Van ECK Associates Corp Raises Position in Hudson Pacific Properties, Inc. (NYSE:HPP)

Van ECK Associates Corp boosted its stake in Hudson Pacific Properties, Inc. (NYSE:HPP) by 9.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,718 shares of the real estate investment trust’s stock after buying an additional 2,399 shares during the period. Van ECK Associates Corp’s holdings in Hudson Pacific Properties were worth $123,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. lifted its holdings in Hudson Pacific Properties by 549.1% in the third quarter. Blue Trust Inc. now owns 5,926 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 5,013 shares during the period. Key Client Fiduciary Advisors LLC bought a new position in shares of Hudson Pacific Properties during the second quarter valued at approximately $53,000. Regent Peak Wealth Advisors LLC bought a new position in shares of Hudson Pacific Properties during the third quarter valued at approximately $85,000. Shell Asset Management Co. bought a new position in shares of Hudson Pacific Properties during the first quarter valued at approximately $107,000. Finally, Everence Capital Management Inc. increased its stake in shares of Hudson Pacific Properties by 17.4% during the third quarter. Everence Capital Management Inc. now owns 27,430 shares of the real estate investment trust’s stock valued at $131,000 after purchasing an additional 4,070 shares in the last quarter. 97.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HPP. Piper Sandler downgraded shares of Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $7.00 to $6.00 in a research note on Thursday, August 8th. Wolfe Research downgraded shares of Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Jefferies Financial Group downgraded shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and decreased their target price for the company from $5.50 to $5.00 in a research note on Tuesday. Bank of America decreased their target price on shares of Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a research note on Thursday, August 22nd. Finally, The Goldman Sachs Group reduced their price target on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.30.

Insiders Place Their Bets

In other Hudson Pacific Properties news, 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 value of $49,399.68. Following the completion of 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Hudson Pacific Properties news, Director Jonathan M. Glaser sold 9,287 shares of Hudson Pacific Properties 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 sale, the director now owns 3,713 shares of the company’s stock, valued at approximately $19,307.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $5.28, for a total transaction of $49,399.68. Following the completion of the sale, the chief operating officer now directly owns 61,068 shares of the company’s stock, valued at approximately $322,439.04. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.95% of the stock is currently owned by insiders.

Hudson Pacific Properties Trading Up 4.6 %

NYSE:HPP opened at $4.23 on Thursday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.41. Hudson Pacific Properties, Inc. has a 12 month low of $4.04 and a 12 month high of $9.85. The company has a market cap of $596.70 million, a PE ratio of -2.02 and a beta of 1.31. The company has a 50 day simple moving average of $4.64 and a two-hundred day simple moving average of $4.97.

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.