Venturi Wealth Management LLC Makes New Investment in Hudson Pacific Properties, Inc. (NYSE:HPP)

Venturi Wealth Management LLC purchased a new stake in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 9,292 shares of the real estate investment trust’s stock, valued at approximately $44,000.

Several other institutional investors have also made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its stake in Hudson Pacific Properties by 225.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 168,807 shares of the real estate investment trust’s stock valued at $1,123,000 after acquiring an additional 116,945 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Hudson Pacific Properties by 282.7% in the 2nd quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock valued at $8,594,000 after purchasing an additional 1,319,869 shares during the last quarter. Wolverine Asset Management LLC boosted its holdings in Hudson Pacific Properties by 42.3% in the third quarter. Wolverine Asset Management LLC now owns 576,373 shares of the real estate investment trust’s stock worth $2,755,000 after purchasing an additional 171,424 shares in the last quarter. Scion Asset Management LLC acquired a new position in Hudson Pacific Properties during the second quarter worth $5,505,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Hudson Pacific Properties by 405.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 309,272 shares of the real estate investment trust’s stock worth $1,995,000 after buying an additional 248,117 shares during the last quarter. 97.58% of the stock is currently owned by institutional investors and hedge funds.

Hudson Pacific Properties Stock Down 7.3 %

NYSE HPP opened at $3.68 on Friday. Hudson Pacific Properties, Inc. has a twelve month low of $3.66 and a twelve month high of $9.85. The stock has a market cap of $519.73 million, a PE ratio of -1.76 and a beta of 1.31. The firm has a 50-day simple moving average of $4.60 and a 200 day simple moving average of $4.95. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.47 and a current ratio of 1.26.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HPP. Scotiabank cut their price objective on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research note on Monday, August 26th. Wells Fargo & Company reduced their price objective on shares of Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a research note on Wednesday, September 11th. The Goldman Sachs Group lowered their target price on shares of 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. Piper Sandler decreased their price target on shares of Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a report on Friday. Finally, Bank of America dropped their price objective on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a research note on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.17.

Insider Buying and Selling at Hudson Pacific Properties

In other news, Director Jonathan M. Glaser sold 9,287 shares of Hudson Pacific Properties 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 sale, the director now directly owns 3,713 shares in the company, valued at approximately $19,307.60. The trade was a 71.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Andy Wattula sold 9,356 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were 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 in the company, valued at approximately $322,439.04. The trade was a 13.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.95% of the company’s stock.

Hudson Pacific Properties Company Profile

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.