Sumitomo Mitsui Trust Group Inc. Boosts Position in Hudson Pacific Properties, Inc. (NYSE:HPP)

Sumitomo Mitsui Trust Group Inc. raised its stake in Hudson Pacific Properties, Inc. (NYSE:HPP) by 12.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 154,433 shares of the real estate investment trust’s stock after acquiring an additional 16,602 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Hudson Pacific Properties were worth $738,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its holdings in shares of Hudson Pacific Properties by 549.1% in the 3rd quarter. Blue Trust Inc. now owns 5,926 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 5,013 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in Hudson Pacific Properties in the third quarter valued at $44,000. Key Client Fiduciary Advisors LLC purchased a new stake in Hudson Pacific Properties in the second quarter valued at $53,000. Regent Peak Wealth Advisors LLC acquired a new position in Hudson Pacific Properties in the third quarter valued at $85,000. Finally, Shell Asset Management Co. purchased a new stake in shares of Hudson Pacific Properties in the 1st quarter valued at about $107,000. Institutional investors and hedge funds own 97.58% of the company’s stock.

Insiders Place Their Bets

In other Hudson Pacific Properties news, Director Jonathan M. Glaser sold 9,287 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $5.20, for a total value 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 approximately $19,307.60. This trade represents a 71.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $5.28, for a total transaction of $49,399.68. Following the sale, the chief operating officer now owns 61,068 shares of the company’s stock, valued at approximately $322,439.04. The trade was a 13.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.92% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on HPP shares. Bank of America dropped their price target on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a research note on Thursday, August 22nd. Scotiabank lowered their target price 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. Wolfe Research downgraded shares of Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. BMO Capital Markets downgraded shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $8.00 to $6.00 in a research report on Thursday, August 8th. Finally, Jefferies Financial Group lowered shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and dropped their price objective for the company from $5.50 to $5.00 in a research note on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Hudson Pacific Properties presently has a consensus rating of “Hold” and an average target price of $6.17.

Hudson Pacific Properties Trading Down 1.2 %

Shares of Hudson Pacific Properties stock opened at $3.33 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. The firm has a market cap of $470.30 million, a price-to-earnings ratio of -1.59 and a beta of 1.31. Hudson Pacific Properties, Inc. has a 52-week low of $3.25 and a 52-week high of $9.85. The company’s 50-day simple moving average is $4.54 and its 200-day simple moving average is $4.91.

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.