Hudson Pacific Properties Inc (HPP) Position Decreased by Rhumbline Advisers
Rhumbline Advisers reduced its stake in shares of Hudson Pacific Properties Inc (NYSE:HPP) by 3.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 168,656 shares of the real estate investment trust’s stock after selling 5,941 shares during the quarter. Rhumbline Advisers owned about 0.11% of Hudson Pacific Properties worth $5,975,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Sumitomo Mitsui Asset Management Company LTD bought a new stake in shares of Hudson Pacific Properties during the 2nd quarter valued at about $230,000. LLBH Private Wealth Management LLC acquired a new position in Hudson Pacific Properties during the 2nd quarter worth approximately $260,000. Nisa Investment Advisors LLC acquired a new position in Hudson Pacific Properties during the 2nd quarter worth approximately $277,000. Exane Derivatives raised its stake in Hudson Pacific Properties by 50,825.0% during the 2nd quarter. Exane Derivatives now owns 8,148 shares of the real estate investment trust’s stock worth $289,000 after buying an additional 8,132 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH acquired a new position in Hudson Pacific Properties during the 1st quarter worth approximately $390,000.
In other news, EVP Arthur X. Suazo sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 8th. The stock was sold at an average price of $35.53, for a total value of $355,300.00. Following the completion of the transaction, the executive vice president now directly owns 102,995 shares of the company’s stock, valued at $3,659,412.35. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Sanford Dale Shimoda sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $35.96, for a total value of $179,800.00. Following the completion of the transaction, the executive vice president now directly owns 89,478 shares of the company’s stock, valued at $3,217,628.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,213 shares of company stock valued at $2,373,009. 1.93% of the stock is currently owned by corporate insiders.
Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.37). The company had revenue of $175.17 million during the quarter, compared to analysts’ expectations of $173.98 million. Hudson Pacific Properties had a return on equity of 2.76% and a net margin of 15.29%. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period last year, the company earned $0.48 earnings per share. equities research analysts predict that Hudson Pacific Properties Inc will post 1.87 earnings per share for the current fiscal year.
A number of research analysts recently weighed in on the company. DA Davidson set a $45.00 price target on Hudson Pacific Properties and gave the stock a “buy” rating in a research note on Thursday, May 31st. Robert W. Baird upped their price target on Hudson Pacific Properties from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 30th. Bank of America upped their price target on Hudson Pacific Properties from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, May 25th. Zacks Investment Research raised Hudson Pacific Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, May 8th. Finally, TheStreet raised Hudson Pacific Properties from a “c+” rating to a “b-” rating in a research note on Wednesday, May 23rd. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Hudson Pacific Properties presently has a consensus rating of “Buy” and an average price target of $37.91.
Hudson Pacific Properties Company Profile
Hudson Pacific Properties is a vertically integrated real estate Company focused on acquiring, repositioning, developing and operating high-quality office and state-of-the-art studio properties in select West Coast markets. Hudson Pacific invests across the risk-return spectrum, favoring opportunities where it can employ leasing, capital investment and management expertise to create additional value.
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