Hudson Pacific Properties, Inc. (NYSE:HPP) Shares Bought by abrdn plc

abrdn plc grew its position in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 10.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,406 shares of the real estate investment trust’s stock after buying an additional 2,710 shares during the quarter. abrdn plc’s holdings in Hudson Pacific Properties were worth $136,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets raised its holdings in Hudson Pacific Properties by 95.7% during the first quarter. BNP Paribas Financial Markets now owns 158,549 shares of the real estate investment trust’s stock worth $1,023,000 after purchasing an additional 77,553 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Hudson Pacific Properties in the 1st quarter valued at approximately $510,000. Daiwa Securities Group Inc. boosted its stake in shares of Hudson Pacific Properties by 8.0% in the first quarter. Daiwa Securities Group Inc. now owns 41,396 shares of the real estate investment trust’s stock valued at $267,000 after buying an additional 3,081 shares in the last quarter. Jennison Associates LLC grew its holdings in Hudson Pacific Properties by 17.0% during the first quarter. Jennison Associates LLC now owns 141,425 shares of the real estate investment trust’s stock worth $912,000 after acquiring an additional 20,589 shares during the period. Finally, Texas Permanent School Fund Corp raised its position in Hudson Pacific Properties by 2.0% in the first quarter. Texas Permanent School Fund Corp now owns 110,863 shares of the real estate investment trust’s stock worth $715,000 after acquiring an additional 2,164 shares in the last quarter. Institutional investors and hedge funds own 97.58% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jonathan M. Glaser sold 9,287 shares of the business’s stock in a transaction that occurred on 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 owns 3,713 shares of the company’s stock, valued at $19,307.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Hudson Pacific Properties news, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $5.28, for a total value of $49,399.68. Following the completion of the sale, the chief operating officer now owns 61,068 shares in the company, valued at $322,439.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jonathan M. Glaser sold 9,287 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $5.20, for a total transaction of $48,292.40. Following the transaction, the director now directly owns 3,713 shares of the company’s stock, valued at approximately $19,307.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.92% of the stock is owned by corporate insiders.

Hudson Pacific Properties Price Performance

Shares of NYSE:HPP opened at $4.41 on Wednesday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.47 and a current ratio of 1.47. The business’s fifty day moving average price is $4.75 and its two-hundred day moving average price is $5.03. The stock has a market cap of $622.82 million, a PE ratio of -2.64 and a beta of 1.31. Hudson Pacific Properties, Inc. has a one year low of $4.11 and a one year high of $9.85.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.50). The company had revenue of $218.00 million for the quarter, compared to analysts’ expectations of $216.08 million. Hudson Pacific Properties had a negative return on equity of 7.41% and a negative net margin of 25.42%. The company’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.24 EPS. On average, analysts forecast that Hudson Pacific Properties, Inc. will post 0.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on HPP. Bank of America decreased their target price on shares of Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a research report on Thursday, August 22nd. Piper Sandler downgraded shares of Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $7.00 to $6.00 in a report on Thursday, August 8th. Wolfe Research cut shares of Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. The Goldman Sachs Group decreased their price target on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. Finally, Morgan Stanley downgraded Hudson Pacific Properties from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $6.00 to $4.25 in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Hudson Pacific Properties presently has a consensus rating of “Hold” and an average target price of $6.94.

About Hudson Pacific Properties

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.