Hudson Pacific Properties, Inc. (NYSE:HPP) Shares Purchased by Amalgamated Bank

Amalgamated Bank increased its position in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 10.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,738 shares of the real estate investment trust’s stock after purchasing an additional 3,802 shares during the quarter. Amalgamated Bank’s holdings in Hudson Pacific Properties were worth $200,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. raised its holdings in shares of Hudson Pacific Properties by 549.1% in the third quarter. Blue Trust Inc. now owns 5,926 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 5,013 shares during the last quarter. Key Client Fiduciary Advisors LLC acquired a new position in shares of Hudson Pacific Properties in the second quarter worth $53,000. Regent Peak Wealth Advisors LLC acquired a new position in shares of Hudson Pacific Properties in the third quarter worth $85,000. Shell Asset Management Co. acquired a new position in shares of Hudson Pacific Properties in the first quarter worth $107,000. Finally, Van ECK Associates Corp raised its holdings in shares of Hudson Pacific Properties by 9.9% in the third quarter. Van ECK Associates Corp now owns 26,718 shares of the real estate investment trust’s stock worth $123,000 after acquiring an additional 2,399 shares during the last quarter. 97.58% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Hudson Pacific Properties

In other news, COO Andy Wattula sold 9,356 shares of the company’s stock in a transaction dated 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 owns 61,068 shares of the company’s stock, valued at $322,439.04. This represents a 13.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jonathan M. Glaser sold 9,287 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was 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 of the company’s stock, valued at $19,307.60. The trade was a 71.44 % decrease in their position. The disclosure for this sale can be found here. 2.95% of the stock is owned by company insiders.

Hudson Pacific Properties Price Performance

HPP stock opened at $3.68 on Monday. The stock has a 50-day moving average price of $4.60 and a two-hundred day moving average price of $4.94. Hudson Pacific Properties, Inc. has a 12-month low of $3.66 and a 12-month high of $9.85. The company has a current ratio of 1.26, a quick ratio of 1.47 and a debt-to-equity ratio of 1.47. The company has a market cap of $519.73 million, a PE ratio of -1.76 and a beta of 1.31.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HPP. Wolfe Research cut Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. BMO Capital Markets downgraded 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. Bank of America lowered their price objective 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. Wells Fargo & Company lowered their price objective on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research report on Wednesday, September 11th. Finally, The Goldman Sachs Group lowered their price objective on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Hudson Pacific Properties currently has a consensus rating of “Hold” and an average price target of $6.17.

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.