Intech Investment Management LLC Buys New Shares in Hudson Pacific Properties, Inc. (NYSE:HPP)

Intech Investment Management LLC purchased a new position in Hudson Pacific Properties, Inc. (NYSE:HPP) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 47,991 shares of the real estate investment trust’s stock, valued at approximately $231,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Key Client Fiduciary Advisors LLC bought a new position in shares of Hudson Pacific Properties in the second quarter worth about $53,000. NorthRock Partners LLC bought a new position in Hudson Pacific Properties in the 1st quarter worth approximately $104,000. Shell Asset Management Co. bought a new position in Hudson Pacific Properties in the 1st quarter worth approximately $107,000. GAMMA Investing LLC grew its holdings in Hudson Pacific Properties by 62.4% during the 1st quarter. GAMMA Investing LLC now owns 17,864 shares of the real estate investment trust’s stock valued at $115,000 after buying an additional 6,862 shares in the last quarter. Finally, Chicago Partners Investment Group LLC bought a new stake in shares of Hudson Pacific Properties during the fourth quarter valued at approximately $125,000. 97.58% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on HPP. Piper Sandler lowered shares of Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $7.00 to $6.00 in a research report on Thursday, August 8th. BMO Capital Markets lowered Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $8.00 to $6.00 in a research report on Thursday, August 8th. Morgan Stanley downgraded Hudson Pacific Properties from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $6.00 to $4.25 in a research report on Wednesday, July 10th. Wells Fargo & Company cut their price target on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a report on Wednesday, September 11th. Finally, The Goldman Sachs Group decreased their price objective on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Hudson Pacific Properties has a consensus rating of “Hold” and a consensus price target of $6.95.

Insider Buying and Selling

In other Hudson Pacific Properties news, COO Andy Wattula sold 9,356 shares of the company’s 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 completion of the sale, the chief operating officer now directly owns 61,068 shares in the company, valued at approximately $322,439.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, COO Andy Wattula sold 9,356 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $5.28, for a total value of $49,399.68. Following the completion of the sale, the chief operating officer now owns 61,068 shares of the company’s stock, valued at approximately $322,439.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jonathan M. Glaser sold 9,287 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 3,713 shares of the company’s stock, valued at approximately $19,307.60. The disclosure for this sale can be found here. 2.95% of the stock is owned by insiders.

Hudson Pacific Properties Price Performance

Shares of HPP stock opened at $4.69 on Friday. The stock has a 50 day moving average price of $5.14 and a 200 day moving average price of $5.36. Hudson Pacific Properties, Inc. has a 52-week low of $4.26 and a 52-week high of $9.85. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.47 and a current ratio of 1.47. The firm has a market capitalization of $661.97 million, a P/E ratio of -2.93, a P/E/G ratio of 0.88 and a beta of 1.31.

Hudson Pacific Properties (NYSE:HPP) last released its earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.33) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.50). The business had revenue of $218.00 million for the quarter, compared to the consensus estimate of $216.08 million. Hudson Pacific Properties had a negative return on equity of 7.41% and a negative net margin of 25.42%. The firm’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.24 earnings per share. As a group, sell-side analysts predict that Hudson Pacific Properties, Inc. will post 0.62 earnings per share for the current year.

About Hudson Pacific Properties

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.