Bank of New York Mellon Corp Sells 476,437 Shares of Hudson Pacific Properties, Inc. (NYSE:HPP)

Bank of New York Mellon Corp reduced its holdings in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 44.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 591,962 shares of the real estate investment trust’s stock after selling 476,437 shares during the period. Bank of New York Mellon Corp’s holdings in Hudson Pacific Properties were worth $1,794,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of HPP. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Hudson Pacific Properties by 450.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,066,056 shares of the real estate investment trust’s stock worth $5,096,000 after purchasing an additional 872,538 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Hudson Pacific Properties by 13.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,209,577 shares of the real estate investment trust’s stock worth $24,902,000 after purchasing an additional 630,932 shares during the period. Y Intercept Hong Kong Ltd increased its holdings in Hudson Pacific Properties by 197.5% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 368,175 shares of the real estate investment trust’s stock worth $1,116,000 after purchasing an additional 244,410 shares during the period. Green Alpha Advisors LLC increased its holdings in Hudson Pacific Properties by 77.7% during the 4th quarter. Green Alpha Advisors LLC now owns 521,592 shares of the real estate investment trust’s stock worth $1,580,000 after purchasing an additional 228,079 shares during the period. Finally, Fourthstone LLC purchased a new position in Hudson Pacific Properties during the 3rd quarter worth $1,049,000. 97.58% of the stock is owned by institutional investors.

Hudson Pacific Properties Trading Down 2.5 %

Shares of NYSE:HPP opened at $2.93 on Friday. Hudson Pacific Properties, Inc. has a 12-month low of $2.39 and a 12-month high of $6.69. The business’s fifty day simple moving average is $3.02 and its 200-day simple moving average is $3.66. The company has a market capitalization of $413.46 million, a PE ratio of -1.14 and a beta of 1.31. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.47.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $209.67 million during the quarter, compared to analysts’ expectations of $207.95 million. Hudson Pacific Properties had a negative return on equity of 12.64% and a negative net margin of 44.01%. As a group, equities research analysts predict that Hudson Pacific Properties, Inc. will post 0.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. The Goldman Sachs Group reduced their price objective on Hudson Pacific Properties from $3.90 to $3.40 and set a “neutral” rating on the stock in a report on Tuesday, February 25th. Mizuho reduced their price objective on Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Morgan Stanley reduced their price objective on Hudson Pacific Properties from $2.40 to $2.25 and set an “underweight” rating on the stock in a report on Tuesday, March 18th. Wells Fargo & Company upgraded Hudson Pacific Properties from an “equal weight” rating to an “overweight” rating and set a $4.00 price objective on the stock in a report on Monday, March 10th. Finally, Piper Sandler cut their price target on Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Hudson Pacific Properties presently has a consensus rating of “Hold” and a consensus price target of $3.54.

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.