abrdn plc Trims Position in Hudson Pacific Properties, Inc. (NYSE:HPP)

abrdn plc cut its position in Hudson Pacific Properties, Inc. (NYSE:HPP) by 14.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 859,801 shares of the real estate investment trust’s stock after selling 146,847 shares during the period. abrdn plc owned about 0.61% of Hudson Pacific Properties worth $8,005,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of HPP. Financial Gravity Asset Management Inc. increased its stake in shares of Hudson Pacific Properties by 103,925.0% in the third quarter. Financial Gravity Asset Management Inc. now owns 4,161 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 4,157 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Hudson Pacific Properties during the third quarter worth $58,000. Optas LLC bought a new position in shares of Hudson Pacific Properties during the third quarter worth $67,000. Sage Rhino Capital LLC bought a new position in shares of Hudson Pacific Properties during the third quarter worth $67,000. Finally, Paces Ferry Wealth Advisors LLC bought a new position in shares of Hudson Pacific Properties during the third quarter worth $71,000. 97.58% of the stock is owned by hedge funds and other institutional investors.

Hudson Pacific Properties Trading Up 0.7 %

Shares of HPP opened at $5.72 on Friday. Hudson Pacific Properties, Inc. has a twelve month low of $4.05 and a twelve month high of $9.85. The company has a market cap of $807.38 million, a P/E ratio of -4.20, a P/E/G ratio of 0.50 and a beta of 1.30. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 1.31. The company’s fifty day simple moving average is $6.37 and its 200-day simple moving average is $6.86.

Hudson Pacific Properties (NYSE:HPP) last announced its earnings results on Monday, February 12th. The real estate investment trust reported $0.15 earnings per share for the quarter, meeting the consensus estimate of $0.15. Hudson Pacific Properties had a negative net margin of 19.20% and a negative return on equity of 5.74%. The business had revenue of $223.42 million for the quarter, compared to the consensus estimate of $223.93 million. During the same quarter in the prior year, the firm posted $0.49 earnings per share. The business’s revenue for the quarter was down 17.2% on a year-over-year basis. As a group, analysts expect that Hudson Pacific Properties, Inc. will post 1.05 EPS for the current year.

Hudson Pacific Properties Announces Dividend

The business also recently declared a — dividend, which was paid on Thursday, March 28th. Investors of record on Monday, March 18th were paid a $0.05 dividend. The ex-dividend date of this dividend was Friday, March 15th. Hudson Pacific Properties’s dividend payout ratio is presently -14.60%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on HPP shares. The Goldman Sachs Group upped their target price on shares of Hudson Pacific Properties from $7.10 to $10.60 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Morgan Stanley dropped their target price on shares of Hudson Pacific Properties from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Thursday, March 28th. Jefferies Financial Group upgraded shares of Hudson Pacific Properties from a “hold” rating to a “buy” rating and upped their target price for the stock from $6.00 to $12.00 in a research report on Tuesday, January 2nd. Piper Sandler lowered their price objective on shares of Hudson Pacific Properties from $11.00 to $9.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. Finally, Wedbush lowered shares of Hudson Pacific Properties from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $11.00 to $7.50 in a research report on Tuesday, February 20th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $9.05.

Insider Buying and Selling

In related news, Director Barry A. Sholem purchased 40,000 shares of Hudson Pacific Properties stock in a transaction that occurred on Wednesday, February 21st. The shares were bought at an average price of $6.69 per share, with a total value of $267,600.00. Following the purchase, the director now directly owns 70,176 shares of the company’s stock, valued at approximately $469,477.44. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Hudson Pacific Properties news, CIO Drew Gordon sold 10,000 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $7.11, for a total transaction of $71,100.00. Following the transaction, the executive now owns 116,694 shares of the company’s stock, valued at approximately $829,694.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Barry A. Sholem bought 40,000 shares of the business’s stock in a transaction on Wednesday, February 21st. The shares were acquired at an average cost of $6.69 per share, for a total transaction of $267,600.00. Following the transaction, the director now directly owns 70,176 shares in the company, valued at approximately $469,477.44. The disclosure for this purchase can be found here. 2.95% of the stock is currently owned by insiders.

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.