Chicago Partners Investment Group LLC Makes New Investment in Hudson Pacific Properties, Inc. (NYSE:HPP)

Chicago Partners Investment Group LLC bought a new stake in Hudson Pacific Properties, Inc. (NYSE:HPP) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 48,519 shares of the real estate investment trust’s stock, valued at approximately $223,000.

Several other institutional investors and hedge funds also recently made changes to their positions in HPP. Millennium Management LLC increased its stake in Hudson Pacific Properties by 282.7% in the 2nd quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock valued at $8,594,000 after buying an additional 1,319,869 shares during the last quarter. Scion Asset Management LLC bought a new stake in Hudson Pacific Properties during the second quarter worth $5,505,000. Davis Selected Advisers lifted its holdings in Hudson Pacific Properties by 78.0% during the second quarter. Davis Selected Advisers now owns 1,224,493 shares of the real estate investment trust’s stock worth $5,890,000 after acquiring an additional 536,540 shares during the period. Kennedy Capital Management LLC boosted its position in Hudson Pacific Properties by 50.6% in the first quarter. Kennedy Capital Management LLC now owns 1,240,292 shares of the real estate investment trust’s stock worth $8,000,000 after purchasing an additional 416,591 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in Hudson Pacific Properties by 1,132.6% in the 2nd quarter. Marshall Wace LLP now owns 363,048 shares of the real estate investment trust’s stock valued at $1,746,000 after purchasing an additional 333,594 shares during the period. Hedge funds and other institutional investors own 97.58% of the company’s stock.

Insider Activity

In related news, COO Andy Wattula sold 9,356 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $5.28, for a total value of $49,399.68. Following the sale, the chief operating officer now owns 61,068 shares in the company, valued at approximately $322,439.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO Andy Wattula sold 9,356 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $5.28, for a total transaction of $49,399.68. Following the completion of the transaction, the chief operating officer now owns 61,068 shares of the company’s stock, valued at approximately $322,439.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan M. Glaser sold 9,287 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $5.20, for a total transaction of $48,292.40. Following the completion of the sale, the director now directly owns 3,713 shares in the company, valued at $19,307.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.92% of the company’s stock.

Analyst Upgrades and Downgrades

HPP has been the subject of several research reports. Morgan Stanley lowered shares of Hudson Pacific Properties from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $6.00 to $4.25 in a research report on Wednesday, July 10th. Scotiabank decreased their price target on shares of Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating for the company in a research note on Monday, August 26th. Wolfe Research downgraded Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Bank of America decreased their target price on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a research report on Thursday, August 22nd. Finally, BMO Capital Markets lowered Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $8.00 to $6.00 in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Hudson Pacific Properties has a consensus rating of “Hold” and an average price target of $6.94.

Hudson Pacific Properties Stock Up 3.8 %

Shares of NYSE HPP opened at $4.41 on Wednesday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.41. The company has a market cap of $622.82 million, a P/E ratio of -2.64 and a beta of 1.31. Hudson Pacific Properties, Inc. has a 52 week low of $4.11 and a 52 week high of $9.85. The business has a 50-day simple moving average of $4.73 and a two-hundred day simple moving average of $5.02.

Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported ($0.33) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.50). Hudson Pacific Properties had a negative net margin of 25.42% and a negative return on equity of 7.41%. The firm had revenue of $218.00 million for the quarter, compared to analysts’ expectations of $216.08 million. During the same period in the prior year, the firm posted $0.24 EPS. Hudson Pacific Properties’s revenue was down 11.1% on a year-over-year basis. Research analysts anticipate that Hudson Pacific Properties, Inc. will post 0.58 earnings per share for the current fiscal year.

Hudson Pacific Properties Profile

Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific's unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space.