Wells Fargo & Company MN grew its stake in shares of Hudson Pacific Properties Inc (NYSE:HPP) by 11.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 781,739 shares of the real estate investment trust’s stock after acquiring an additional 82,807 shares during the quarter. Wells Fargo & Company MN owned about 0.50% of Hudson Pacific Properties worth $26,774,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. boosted its position in shares of Hudson Pacific Properties by 9.1% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,599,938 shares of the real estate investment trust’s stock valued at $53,646,000 after purchasing an additional 133,990 shares in the last quarter. Prudential Financial Inc. boosted its holdings in Hudson Pacific Properties by 21.0% in the third quarter. Prudential Financial Inc. now owns 2,487,091 shares of the real estate investment trust’s stock worth $83,392,000 after acquiring an additional 431,834 shares in the last quarter. Forsta AP Fonden bought a new position in Hudson Pacific Properties in the fourth quarter worth approximately $1,356,000. State Board of Administration of Florida Retirement System boosted its holdings in Hudson Pacific Properties by 4.2% in the third quarter. State Board of Administration of Florida Retirement System now owns 118,636 shares of the real estate investment trust’s stock worth $3,978,000 after acquiring an additional 4,740 shares in the last quarter. Finally, Keeley Teton Advisors LLC bought a new position in Hudson Pacific Properties in the third quarter worth approximately $703,000.
Hudson Pacific Properties Inc (HPP) remained flat at $$32.47 on Wednesday. The stock had a trading volume of 621,741 shares, compared to its average volume of 1,117,527. Hudson Pacific Properties Inc has a one year low of $28.25 and a one year high of $36.14. The stock has a market cap of $5,106.17, a PE ratio of 73.80, a P/E/G ratio of 2.77 and a beta of 0.68. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.62.
Hudson Pacific Properties (NYSE:HPP) last released its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.02. The business had revenue of $189.33 million for the quarter, compared to analysts’ expectations of $189.63 million. Hudson Pacific Properties had a return on equity of 1.81% and a net margin of 10.14%. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.46 EPS. research analysts predict that Hudson Pacific Properties Inc will post 1.91 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Monday, March 19th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, March 16th. This represents a $1.00 annualized dividend and a dividend yield of 3.08%. Hudson Pacific Properties’s payout ratio is 227.28%.
A number of research analysts have recently weighed in on HPP shares. Wells Fargo & Co upgraded Hudson Pacific Properties from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a report on Friday, February 23rd. Sandler O’Neill reaffirmed a “hold” rating and set a $33.00 price target on shares of Hudson Pacific Properties in a research report on Friday, February 23rd. Zacks Investment Research cut Hudson Pacific Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, January 17th. Citigroup started coverage on Hudson Pacific Properties in a research report on Tuesday, February 27th. They issued a “buy” rating and a $37.00 price target for the company. Finally, Goldman Sachs Group lowered Hudson Pacific Properties from a “buy” rating to a “neutral” rating in a research note on Monday, November 20th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. Hudson Pacific Properties presently has an average rating of “Hold” and a consensus target price of $36.88.
WARNING: “Wells Fargo & Company MN Grows Holdings in Hudson Pacific Properties Inc (NYSE:HPP)” was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this story on another domain, it was stolen and reposted in violation of US and international trademark & copyright legislation. The legal version of this story can be accessed at https://ledgergazette.com/2018/03/14/wells-fargo-company-mn-raises-position-in-hudson-pacific-properties-inc-hpp.html.
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.
Receive News & Ratings for Hudson Pacific Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hudson Pacific Properties and related companies with MarketBeat.com's FREE daily email newsletter.