Bridgewater Associates LP Raises Stake in Hudson Pacific Properties, Inc. (NYSE:HPP)

Bridgewater Associates LP raised its position in Hudson Pacific Properties, Inc. (NYSE:HPP) by 56.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,590 shares of the real estate investment trust’s stock after purchasing an additional 8,844 shares during the period. Bridgewater Associates LP’s holdings in Hudson Pacific Properties were worth $118,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of HPP. Charles Schwab Investment Management Inc. increased its holdings in Hudson Pacific Properties by 13.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,209,577 shares of the real estate investment trust’s stock valued at $24,902,000 after buying an additional 630,932 shares during the last quarter. Millennium Management LLC raised its position in shares of Hudson Pacific Properties by 282.7% during the 2nd quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock worth $8,594,000 after acquiring an additional 1,319,869 shares in the last quarter. B&I Capital AG lifted its stake in Hudson Pacific Properties by 23.4% during the second quarter. B&I Capital AG now owns 1,699,283 shares of the real estate investment trust’s stock worth $8,174,000 after purchasing an additional 322,033 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Hudson Pacific Properties by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 1,290,803 shares of the real estate investment trust’s stock valued at $6,209,000 after purchasing an additional 43,728 shares in the last quarter. Finally, Davis Selected Advisers raised 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 purchasing an additional 536,540 shares in the last quarter. 97.58% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on HPP shares. BMO Capital Markets downgraded shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $8.00 to $6.00 in a research 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 report on Wednesday, September 11th. Scotiabank decreased their target price on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating for the company in a research report on Monday, August 26th. Bank of America dropped their price target on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a research note on Thursday, August 22nd. Finally, Jefferies Financial Group cut Hudson Pacific Properties from a “buy” rating to a “hold” rating and reduced their price objective for the company from $5.50 to $5.00 in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Hudson Pacific Properties has an average rating of “Hold” and a consensus price target of $6.17.

Hudson Pacific Properties Price Performance

Hudson Pacific Properties stock opened at $3.71 on Wednesday. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26. The business has a 50 day simple moving average of $4.26 and a 200-day simple moving average of $4.77. Hudson Pacific Properties, Inc. has a 12 month low of $3.01 and a 12 month high of $9.85. The stock has a market capitalization of $523.26 million, a PE ratio of -1.77 and a beta of 1.27.

Insiders Place Their Bets

In other Hudson Pacific Properties news, COO Andy Wattula sold 9,356 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $5.28, for a total transaction of $49,399.68. Following the transaction, the chief operating officer now owns 61,068 shares in the company, valued at approximately $322,439.04. The trade was a 13.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Victor J. Coleman purchased 50,000 shares of Hudson Pacific Properties stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $3.53 per share, with a total value of $176,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 437,451 shares in the company, valued at approximately $1,544,202.03. This trade represents a 12.90 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.92% of the stock is owned by insiders.

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.