Hudson Pacific Properties, Inc. (NYSE:HPP) Position Lowered by Jennison Associates LLC

Jennison Associates LLC decreased its stake in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 120,836 shares of the real estate investment trust’s stock after selling 2,482 shares during the period. Jennison Associates LLC owned about 0.09% of Hudson Pacific Properties worth $1,125,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of HPP. FMR LLC lifted its position in shares of Hudson Pacific Properties by 6,191.3% during the third quarter. FMR LLC now owns 5,393,766 shares of the real estate investment trust’s stock worth $35,869,000 after purchasing an additional 5,308,032 shares during the last quarter. Deutsche Bank AG raised its stake in Hudson Pacific Properties by 2,367.6% during the third quarter. Deutsche Bank AG now owns 4,280,984 shares of the real estate investment trust’s stock worth $28,469,000 after acquiring an additional 4,107,498 shares during the period. American Assets Capital Advisers LLC acquired a new stake in Hudson Pacific Properties during the third quarter worth about $13,704,000. American Century Companies Inc. acquired a new stake in Hudson Pacific Properties during the third quarter worth about $9,313,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Hudson Pacific Properties during the third quarter worth about $7,315,000. Institutional investors own 97.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HPP. Wolfe Research upgraded shares of Hudson Pacific Properties from a “peer perform” rating to an “outperform” rating and set a $8.40 price objective on the stock in a research note on Monday, March 18th. Morgan Stanley dropped their price objective on shares of Hudson Pacific Properties from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th. Wedbush lowered shares of Hudson Pacific Properties from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $11.00 to $7.50 in a research note on Tuesday, February 20th. Piper Sandler dropped their price target on shares of Hudson Pacific Properties from $11.00 to $9.00 and set an “overweight” rating on the stock in a research note on Friday, March 22nd. Finally, Jefferies Financial Group upgraded shares of Hudson Pacific Properties from a “hold” rating to a “buy” rating and raised their price target for the company from $6.00 to $12.00 in a research note on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Hudson Pacific Properties has an average rating of “Hold” and a consensus price target of $9.05.

Insider Activity

In other Hudson Pacific Properties news, Director Barry A. Sholem bought 40,000 shares of Hudson Pacific Properties stock in a transaction that occurred on Wednesday, February 21st. The stock was purchased at an average cost of $6.69 per share, for a total transaction of $267,600.00. Following the completion of the acquisition, the director now owns 70,176 shares of the company’s stock, valued at approximately $469,477.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Hudson Pacific Properties news, Director Barry A. Sholem bought 40,000 shares of Hudson Pacific Properties stock in a transaction that occurred on Wednesday, February 21st. The stock was purchased at an average cost of $6.69 per share, for a total transaction of $267,600.00. Following the completion of the acquisition, the director now owns 70,176 shares of the company’s stock, valued at approximately $469,477.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CIO Drew Gordon sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $7.11, for a total transaction of $71,100.00. Following the sale, the executive now owns 116,694 shares of the company’s stock, valued at $829,694.34. The disclosure for this sale can be found here. Insiders own 2.95% of the company’s stock.

Hudson Pacific Properties Trading Up 0.7 %

Hudson Pacific Properties stock opened at $5.72 on Friday. The firm has a 50 day simple moving average of $6.34 and a 200-day simple moving average of $6.86. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market capitalization of $807.38 million, a PE ratio of -4.18, a price-to-earnings-growth ratio of 0.48 and a beta of 1.30. Hudson Pacific Properties, Inc. has a 12-month low of $4.05 and a 12-month high of $9.85.

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

Hudson Pacific Properties Announces Dividend

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

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.