PNC Financial Services Group Inc. Sells 2,415 Shares of Hudson Pacific Properties, Inc. (NYSE:HPP)

PNC Financial Services Group Inc. decreased its holdings in Hudson Pacific Properties, Inc. (NYSE:HPP) by 7.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 31,663 shares of the real estate investment trust’s stock after selling 2,415 shares during the period. PNC Financial Services Group Inc.’s holdings in Hudson Pacific Properties were worth $295,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of HPP. Financial Gravity Asset Management Inc. grew its position in Hudson Pacific Properties by 103,925.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 4,161 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 4,157 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Hudson Pacific Properties by 42.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,688 shares of the real estate investment trust’s stock valued at $72,000 after purchasing an additional 2,286 shares during the last quarter. Versor Investments LP acquired a new position in Hudson Pacific Properties during the 4th quarter worth approximately $99,000. Spirit of America Management Corp NY bought a new position in Hudson Pacific Properties in the 4th quarter valued at approximately $102,000. Finally, GAMMA Investing LLC acquired a new stake in Hudson Pacific Properties in the fourth quarter valued at approximately $102,000. Institutional investors and hedge funds own 97.58% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wolfe Research upgraded shares of Hudson Pacific Properties from a “peer perform” rating to an “outperform” rating and set a $8.40 price target for the company in a report on Monday, March 18th. The Goldman Sachs Group lowered their target price on Hudson Pacific Properties from $9.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Piper Sandler reissued an “overweight” rating and set a $7.00 price target on shares of Hudson Pacific Properties in a research note on Thursday. Finally, Morgan Stanley lowered their price objective on Hudson Pacific Properties from $7.00 to $6.00 and set an “equal weight” rating for the company in a research note on Thursday, March 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $8.49.

Hudson Pacific Properties Trading Up 0.2 %

HPP opened at $4.81 on Monday. Hudson Pacific Properties, Inc. has a twelve month low of $4.05 and a twelve month high of $9.85. The company has a fifty day moving average of $5.14 and a 200-day moving average of $6.67. The stock has a market cap of $678.93 million, a PE ratio of -3.01, a price-to-earnings-growth ratio of 0.62 and a beta of 1.30. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.38.

Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.53). Hudson Pacific Properties had a negative return on equity of 6.91% and a negative net margin of 23.48%. The business had revenue of $214.02 million for the quarter, compared to analyst estimates of $220.61 million. On average, sell-side analysts predict that Hudson Pacific Properties, Inc. will post 0.86 EPS for the current year.

Hudson Pacific Properties Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Monday, June 17th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.20 annualized dividend and a dividend yield of 4.16%. Hudson Pacific Properties’s dividend payout ratio is currently -12.50%.

Insider Transactions at Hudson Pacific Properties

In related news, CEO Victor J. Coleman sold 100,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $5.18, for a total value of $518,000.00. Following the completion of the sale, the chief executive officer now directly owns 387,451 shares of the company’s stock, valued at approximately $2,006,996.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased 13,420 shares of company stock valued at $59,912 in the last 90 days. 2.95% of the stock is currently owned by corporate insiders.

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.