BNP Paribas Arbitrage SA decreased its stake in Hudson Pacific Properties, Inc. (NYSE:HPP) by 43.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,879 shares of the real estate investment trust’s stock after selling 42,214 shares during the period. BNP Paribas Arbitrage SA’s holdings in Hudson Pacific Properties were worth $1,911,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Bank of Montreal Can raised its position in Hudson Pacific Properties by 59.0% during the 1st quarter. Bank of Montreal Can now owns 51,800 shares of the real estate investment trust’s stock worth $1,795,000 after buying an additional 19,224 shares during the last quarter. Profund Advisors LLC grew its stake in shares of Hudson Pacific Properties by 10.7% during the 1st quarter. Profund Advisors LLC now owns 8,933 shares of the real estate investment trust’s stock worth $309,000 after purchasing an additional 863 shares during the period. DUPONT CAPITAL MANAGEMENT Corp grew its stake in shares of Hudson Pacific Properties by 11.1% during the 1st quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 32,257 shares of the real estate investment trust’s stock worth $1,117,000 after purchasing an additional 3,228 shares during the period. Sumitomo Mitsui Asset Management Company LTD acquired a new position in shares of Hudson Pacific Properties during the 1st quarter worth $512,000. Finally, Wells Fargo & Company MN grew its stake in shares of Hudson Pacific Properties by 7.7% during the 1st quarter. Wells Fargo & Company MN now owns 645,950 shares of the real estate investment trust’s stock worth $22,376,000 after purchasing an additional 46,251 shares during the period.
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In other news, Director Jonathan M. Glaser purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was acquired at an average cost of $31.98 per share, with a total value of $159,900.00. Following the acquisition, the director now owns 132,405 shares in the company, valued at approximately $4,234,311.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan M. Glaser purchased 15,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average cost of $31.78 per share, with a total value of $476,700.00. Following the completion of the acquisition, the director now owns 132,405 shares in the company, valued at approximately $4,207,830.90. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 25,000 shares of company stock valued at $797,600. 13.35% of the stock is currently owned by insiders.
Hudson Pacific Properties, Inc. (HPP) traded down 0.71% on Friday, reaching $32.27. 1,729,024 shares of the company traded hands. The firm has a 50 day moving average price of $32.52 and a 200 day moving average price of $33.68. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of 91.68 and a beta of 0.76. Hudson Pacific Properties, Inc. has a 52-week low of $31.53 and a 52-week high of $36.75.
Hudson Pacific Properties (NYSE:HPP) last released its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.01. Hudson Pacific Properties had a return on equity of 1.37% and a net margin of 7.87%. The company had revenue of $166.85 million during the quarter, compared to analysts’ expectations of $175.79 million. During the same period last year, the firm posted $0.43 earnings per share. The business’s revenue was up 15.5% on a year-over-year basis. Equities research analysts predict that Hudson Pacific Properties, Inc. will post $0.29 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Tuesday, September 19th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, September 18th. This represents a $1.00 annualized dividend and a yield of 3.10%. Hudson Pacific Properties’s payout ratio is currently 277.78%.
HPP has been the topic of a number of recent analyst reports. KeyCorp reaffirmed a “buy” rating and set a $39.00 price target on shares of Hudson Pacific Properties in a research note on Friday, August 25th. BidaskClub raised shares of Hudson Pacific Properties from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Barclays PLC increased their price objective on shares of Hudson Pacific Properties from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Tuesday, August 15th. Finally, Morgan Stanley decreased their price target on shares of Hudson Pacific Properties from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Hudson Pacific Properties has a consensus rating of “Buy” and a consensus target price of $38.31.
Hudson Pacific Properties Company Profile
Hudson Pacific Properties, Inc is a real estate investment trust (REIT). The Company operates in two segments: office properties, and media and entertainment properties. The Company is focused on acquiring, repositioning, developing and operating office and media and entertainment properties in submarkets throughout Northern and Southern California and the Pacific Northwest.
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