Macquarie Group Ltd. raised its holdings in Hudson Pacific Properties, Inc. (NYSE:HPP) by 28.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 155,200 shares of the real estate investment trust’s stock after acquiring an additional 34,700 shares during the period. Macquarie Group Ltd. owned about 0.10% of Hudson Pacific Properties worth $5,204,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. Public Employees Retirement Association of Colorado bought a new stake in shares of Hudson Pacific Properties during the second quarter worth about $168,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Hudson Pacific Properties during the second quarter worth about $214,000. Advisors Asset Management Inc. grew its holdings in shares of Hudson Pacific Properties by 33.2% during the second quarter. Advisors Asset Management Inc. now owns 8,980 shares of the real estate investment trust’s stock worth $307,000 after purchasing an additional 2,238 shares during the last quarter. Ramsey Quantitative Systems bought a new stake in shares of Hudson Pacific Properties during the second quarter worth about $310,000. Finally, Royal Bank of Canada grew its holdings in shares of Hudson Pacific Properties by 60.7% during the second quarter. Royal Bank of Canada now owns 9,386 shares of the real estate investment trust’s stock worth $321,000 after purchasing an additional 3,544 shares during the last quarter. Hedge funds and other institutional investors own 99.66% of the company’s stock.
Hudson Pacific Properties, Inc. (NYSE:HPP) opened at $34.74 on Monday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $5,421.55, a P/E ratio of 18.09, a P/E/G ratio of 2.93 and a beta of 0.78. Hudson Pacific Properties, Inc. has a 12 month low of $31.52 and a 12 month high of $36.75.
Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.50. Hudson Pacific Properties had a return on equity of 1.58% and a net margin of 8.98%. The firm had revenue of $190.02 million for the quarter, compared to analyst estimates of $183.37 million. During the same period in the previous year, the firm earned $0.46 earnings per share. The company’s revenue was up 15.5% compared to the same quarter last year. analysts predict that Hudson Pacific Properties, Inc. will post 1.96 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Monday, December 18th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend is Friday, December 15th. Hudson Pacific Properties’s dividend payout ratio (DPR) is presently 243.90%.
In other Hudson Pacific Properties news, EVP Sanford Dale Shimoda sold 2,800 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $35.68, for a total value of $99,904.00. Following the transaction, the executive vice president now directly owns 83,072 shares of the company’s stock, valued at $2,964,008.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Richard B. Fried sold 17,417 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $34.66, for a total value of $603,673.22. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.
Several research firms have recently weighed in on HPP. Goldman Sachs Group cut Hudson Pacific Properties from a “buy” rating to a “neutral” rating in a report on Monday, November 20th. Zacks Investment Research raised Hudson Pacific Properties from a “sell” rating to a “hold” rating in a research note on Monday, November 6th. BidaskClub raised Hudson Pacific Properties from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 17th. Morgan Stanley cut their price objective on 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. Finally, KeyCorp reaffirmed a “buy” rating on shares of Hudson Pacific Properties in a research note on Tuesday, September 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $38.33.
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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