Mechanics Bank Trust Department Acquires New Shares in Hudson Pacific Properties, Inc. (NYSE:HPP)

Mechanics Bank Trust Department bought a new position in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 19,926 shares of the real estate investment trust’s stock, valued at approximately $60,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of Hudson Pacific Properties by 549.1% during the third quarter. Blue Trust Inc. now owns 5,926 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 5,013 shares during the period. Venturi Wealth Management LLC acquired a new stake in Hudson Pacific Properties during the 3rd quarter worth approximately $44,000. Stifel Financial Corp acquired a new stake in Hudson Pacific Properties during the 3rd quarter worth approximately $48,000. MQS Management LLC acquired a new position in shares of Hudson Pacific Properties in the third quarter valued at approximately $58,000. Finally, Metis Global Partners LLC bought a new stake in shares of Hudson Pacific Properties during the third quarter worth $66,000. 97.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HPP has been the topic of several research reports. Piper Sandler cut their price objective on shares of Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating on the stock in a research report on Friday, November 15th. Mizuho decreased their target price on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, Jefferies Financial Group lowered their price target on Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating and nine have given a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $5.08.

Insider Activity

In other news, CEO Victor J. Coleman acquired 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were acquired at an average cost of $2.87 per share, with a total value of $143,500.00. Following the completion of the purchase, the chief executive officer now directly owns 487,451 shares of the company’s stock, valued at $1,398,984.37. The trade was a 11.43 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.92% of the company’s stock.

Hudson Pacific Properties Stock Up 7.7 %

Shares of NYSE HPP opened at $3.16 on Tuesday. Hudson Pacific Properties, Inc. has a 52 week low of $2.39 and a 52 week high of $9.25. The stock’s fifty day moving average is $3.22 and its 200 day moving average is $4.34. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market capitalization of $445.58 million, a P/E ratio of -1.51 and a beta of 1.30.

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.