NorthRock Partners LLC Takes $259,000 Position in Hudson Pacific Properties, Inc. (NYSE:HPP)

NorthRock Partners LLC bought a new stake in Hudson Pacific Properties, Inc. (NYSE:HPP) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 54,220 shares of the real estate investment trust’s stock, valued at approximately $259,000.

A number of other institutional investors have also modified their holdings of the business. Texas Permanent School Fund Corp increased its holdings in shares of Hudson Pacific Properties by 2.0% in the 1st quarter. Texas Permanent School Fund Corp now owns 110,863 shares of the real estate investment trust’s stock valued at $715,000 after acquiring an additional 2,164 shares during the period. Van ECK Associates Corp grew its position in Hudson Pacific Properties by 9.9% in the 3rd quarter. Van ECK Associates Corp now owns 26,718 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 2,399 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Hudson Pacific Properties by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,572 shares of the real estate investment trust’s stock valued at $402,000 after buying an additional 2,408 shares during the last quarter. abrdn plc grew its position in Hudson Pacific Properties by 10.5% in the 3rd quarter. abrdn plc now owns 28,406 shares of the real estate investment trust’s stock valued at $136,000 after buying an additional 2,710 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Hudson Pacific Properties by 8.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 41,396 shares of the real estate investment trust’s stock valued at $267,000 after buying an additional 3,081 shares during the last quarter. 97.58% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Hudson Pacific Properties

In other news, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction 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 completion of the transaction, the chief operating officer now owns 61,068 shares of the company’s stock, valued at $322,439.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO Andy Wattula sold 9,356 shares of the business’s stock in a transaction dated 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 owns 61,068 shares of the company’s stock, valued at approximately $322,439.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan M. Glaser sold 9,287 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were 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 $19,307.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.92% of the company’s stock.

Hudson Pacific Properties Trading Up 2.4 %

NYSE:HPP opened at $4.52 on Thursday. The company has a market capitalization of $637.65 million, a PE ratio of -2.70 and a beta of 1.31. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.41. Hudson Pacific Properties, Inc. has a 52-week low of $4.11 and a 52-week high of $9.85. The stock has a fifty day simple moving average of $4.71 and a 200-day simple moving average of $5.02.

Hudson Pacific Properties (NYSE:HPP) last released its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.50). The firm had revenue of $218.00 million for the quarter, compared to analyst estimates 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 company’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same period last year, the firm earned $0.24 EPS. On average, equities research analysts expect that Hudson Pacific Properties, Inc. will post 0.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. BMO Capital Markets lowered shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $8.00 to $6.00 in a research report on Thursday, August 8th. Scotiabank lowered their price objective on shares of Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Monday, August 26th. Piper Sandler lowered shares of Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $7.00 to $6.00 in a research report on Thursday, August 8th. Morgan Stanley lowered shares of 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. Finally, Bank of America decreased their target price on shares of Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a research report on Thursday, August 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.94.

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.