Venturi Wealth Management LLC Takes $44,000 Position in Hudson Pacific Properties, Inc. (NYSE:HPP)

Venturi Wealth Management LLC acquired a new position in Hudson Pacific Properties, Inc. (NYSE:HPP) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 9,292 shares of the real estate investment trust’s stock, valued at approximately $44,000.

Several other hedge funds have also recently bought and sold shares of the company. Millennium Management LLC increased its stake in shares of Hudson Pacific Properties by 282.7% in the second quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock valued at $8,594,000 after purchasing an additional 1,319,869 shares during the period. Scion Asset Management LLC bought a new stake in Hudson Pacific Properties during the 2nd quarter valued at $5,505,000. Davis Selected Advisers boosted its position in Hudson Pacific Properties by 78.0% during the 2nd 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 grew its stake in shares of 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 in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Hudson Pacific Properties by 1,132.6% during the second 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 in the last quarter. 97.58% of the stock is currently owned by institutional investors.

Hudson Pacific Properties Stock Performance

Shares of HPP opened at $3.68 on Friday. The company has a 50-day moving average of $4.60 and a two-hundred day moving average of $4.95. The stock has a market cap of $519.73 million, a price-to-earnings ratio of -1.76 and a beta of 1.31. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.47. Hudson Pacific Properties, Inc. has a one year low of $3.66 and a one year high of $9.85.

Insider Buying and Selling

In related news, Director Jonathan M. Glaser sold 9,287 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $5.20, for a total transaction of $48,292.40. Following the transaction, the director now directly owns 3,713 shares of the company’s stock, valued at approximately $19,307.60. The trade was a 71.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $5.28, for a total value of $49,399.68. Following the transaction, the chief operating officer now directly owns 61,068 shares in the company, valued at approximately $322,439.04. This trade represents a 13.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.95% of the company’s stock.

Analyst Ratings Changes

HPP has been the topic of several research analyst reports. Wells Fargo & Company lowered their target price on shares of Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating on the stock in a research note on Wednesday, September 11th. Scotiabank dropped their target price on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Monday, August 26th. Piper Sandler decreased their price target on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a research note on Friday. Jefferies Financial Group downgraded Hudson Pacific Properties from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $5.50 to $5.00 in a research note on Tuesday. Finally, Wolfe Research cut Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.17.

Hudson Pacific Properties Company 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.