Louisiana State Employees Retirement System Has $326,000 Stake in Hudson Pacific Properties, Inc. (NYSE:HPP)

Louisiana State Employees Retirement System increased its stake in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 6.9% during the 3rd quarter, Holdings Channel reports. The fund owned 68,200 shares of the real estate investment trust’s stock after acquiring an additional 4,400 shares during the period. Louisiana State Employees Retirement System’s holdings in Hudson Pacific Properties were worth $326,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. BNP Paribas Financial Markets lifted its stake in shares of Hudson Pacific Properties by 95.7% in the first quarter. BNP Paribas Financial Markets now owns 158,549 shares of the real estate investment trust’s stock valued at $1,023,000 after buying an additional 77,553 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in Hudson Pacific Properties in the 1st quarter valued at about $510,000. Daiwa Securities Group Inc. increased its holdings in Hudson Pacific Properties by 8.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 41,396 shares of the real estate investment trust’s stock worth $267,000 after purchasing an additional 3,081 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Hudson Pacific Properties by 17.0% in the first quarter. Jennison Associates LLC now owns 141,425 shares of the real estate investment trust’s stock worth $912,000 after purchasing an additional 20,589 shares during the last quarter. Finally, Texas Permanent School Fund Corp boosted its position in shares of Hudson Pacific Properties by 2.0% during the first quarter. Texas Permanent School Fund Corp now owns 110,863 shares of the real estate investment trust’s stock valued at $715,000 after buying an additional 2,164 shares during the last quarter. 97.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Analyst Ratings Changes

A number of research firms have issued reports on HPP. Piper Sandler downgraded shares of Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $7.00 to $6.00 in a report on Thursday, August 8th. Wells Fargo & Company cut their target price on 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. BMO Capital Markets downgraded Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $8.00 to $6.00 in a research report on Thursday, August 8th. The Goldman Sachs Group cut their price objective on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.94.

Hudson Pacific Properties Stock Performance

Shares of HPP stock opened at $4.52 on Thursday. Hudson Pacific Properties, Inc. has a 12 month low of $4.11 and a 12 month high of $9.85. The stock has a market capitalization of $637.65 million, a P/E ratio of -2.70 and a beta of 1.31. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.41. The firm’s 50 day moving average is $4.71 and its 200 day moving average is $5.02.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly 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). Hudson Pacific Properties had a negative net margin of 25.42% and a negative return on equity of 7.41%. The company had revenue of $218.00 million during the quarter, compared to analysts’ expectations of $216.08 million. During the same quarter last year, the firm posted $0.24 earnings per share. Hudson Pacific Properties’s revenue for the quarter was down 11.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Hudson Pacific Properties, Inc. will post 0.58 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.