Cadence Capital Management LLC Invests $385,000 in Hudson Pacific Properties, Inc. (HPP) Stock

Cadence Capital Management LLC acquired a new stake in Hudson Pacific Properties, Inc. (NYSE:HPP) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,481 shares of the real estate investment trust’s stock, valued at approximately $385,000.

A number of other hedge funds have also made changes to their positions in HPP. Honeywell International Inc. boosted its position in shares of Hudson Pacific Properties by 27.8% during the third quarter. Honeywell International Inc. now owns 64,220 shares of the real estate investment trust’s stock worth $2,153,000 after purchasing an additional 13,950 shares in the last quarter. State of Wisconsin Investment Board bought a new position in shares of Hudson Pacific Properties during the second quarter worth $1,064,000. State Board of Administration of Florida Retirement System boosted its position in shares of Hudson Pacific Properties by 4.2% during the third quarter. State Board of Administration of Florida Retirement System now owns 118,636 shares of the real estate investment trust’s stock worth $3,978,000 after purchasing an additional 4,740 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of Hudson Pacific Properties by 13.7% during the second quarter. UBS Asset Management Americas Inc. now owns 471,746 shares of the real estate investment trust’s stock worth $16,129,000 after acquiring an additional 56,778 shares during the period. Finally, Royal Bank of Canada raised its holdings in shares of Hudson Pacific Properties by 60.7% during the second quarter. Royal Bank of Canada now owns 9,386 shares of the real estate investment trust’s stock worth $321,000 after acquiring an additional 3,544 shares during the period. 99.66% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts recently commented on HPP shares. KeyCorp restated a “buy” rating and set a $39.00 price objective on shares of Hudson Pacific Properties in a report on Friday, August 25th. Goldman Sachs Group started coverage on shares of Hudson Pacific Properties in a report on Tuesday, September 19th. They set a “buy” rating and a $39.00 price objective on the stock. Zacks Investment Research upgraded shares of Hudson Pacific Properties from a “sell” rating to a “hold” rating in a report on Monday, November 6th. Barclays raised their price objective on shares of Hudson Pacific Properties from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. Finally, Morgan Stanley dropped their price objective on shares of Hudson Pacific Properties from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. Hudson Pacific Properties has an average rating of “Hold” and a consensus price target of $38.33.

In other news, insider Richard B. Fried sold 17,417 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $34.66, for a total transaction of $603,673.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Sanford Dale Shimoda sold 2,800 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $35.68, for a total transaction of $99,904.00. Following the transaction, the executive vice president now owns 83,072 shares in the company, valued at $2,964,008.96. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Shares of Hudson Pacific Properties, Inc. (NYSE HPP) traded down $0.09 during mid-day trading on Thursday, reaching $34.59. 599,700 shares of the company’s stock traded hands, compared to its average volume of 1,180,156. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.61. Hudson Pacific Properties, Inc. has a 12-month low of $31.52 and a 12-month high of $36.75. The firm has a market cap of $5,412.19, a price-to-earnings ratio of 18.06, a P/E/G ratio of 3.01 and a beta of 0.78.

Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. Hudson Pacific Properties had a net margin of 8.98% and a return on equity of 1.58%. The firm had revenue of $190.02 million for the quarter, compared to analyst estimates of $183.37 million. During the same period in the previous year, the business earned $0.46 EPS. The company’s revenue was up 15.5% compared to the same quarter last year. equities analysts expect that Hudson Pacific Properties, Inc. will post 1.95 earnings per share for the current fiscal year.

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Hudson Pacific Properties Profile

Hudson Pacific Properties, Inc is a real estate investment trust (REIT). The Company operates in two segments: office properties, and media and entertainment properties. The Company is focused on acquiring, repositioning, developing and operating office and media and entertainment properties in submarkets throughout Northern and Southern California and the Pacific Northwest.

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Institutional Ownership by Quarter for Hudson Pacific Properties (NYSE:HPP)

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