Quantinno Capital Management LP raised its stake in shares of Hudson Pacific Properties, Inc. (NYSE:HPP – Free Report) by 347.8% in the 1st quarter, Holdings Channel reports. The firm owned 184,034 shares of the real estate investment trust’s stock after purchasing an additional 142,941 shares during the quarter. Quantinno Capital Management LP’s holdings in Hudson Pacific Properties were worth $1,088,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Evergreen Capital Management LLC bought a new stake in shares of Hudson Pacific Properties in the 2nd quarter valued at about $28,000. Orion Porfolio Solutions LLC bought a new position in shares of Hudson Pacific Properties during the third quarter worth about $28,000. United Capital Financial Advisors LLC bought a new position in shares of Hudson Pacific Properties during the third quarter worth about $30,000. Integrated Wealth Concepts LLC acquired a new position in shares of Hudson Pacific Properties in the third quarter worth approximately $32,000. Finally, US Bancorp DE lifted its stake in shares of Hudson Pacific Properties by 196.2% in the third quarter. US Bancorp DE now owns 12,485 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 8,270 shares during the period. 97.58% of the stock is owned by institutional investors and hedge funds.
Hudson Pacific Properties Stock Performance
Shares of HPP stock opened at $13.90 on Friday. The company has a market cap of $754.57 million, a price-to-earnings ratio of -1.57, a price-to-earnings-growth ratio of 1.06 and a beta of 1.90. Hudson Pacific Properties, Inc. has a 52 week low of $5.26 and a 52 week high of $21.70. The company has a quick ratio of 1.65, a current ratio of 1.11 and a debt-to-equity ratio of 1.33. The firm has a 50 day moving average of $14.87 and a 200-day moving average of $10.56.
Insiders Place Their Bets
In related news, Director Jon E. Bortz purchased 25,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was purchased at an average cost of $13.40 per share, with a total value of $335,000.00. Following the completion of the purchase, the director owned 35,394 shares in the company, valued at approximately $474,279.60. This trade represents a 240.52% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.47% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages recently weighed in on HPP. Piper Sandler raised shares of Hudson Pacific Properties from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $16.00 to $18.00 in a research note on Thursday, August 6th. Mizuho upped their price target on shares of Hudson Pacific Properties from $15.00 to $17.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Cantor Fitzgerald upped their price target on shares of Hudson Pacific Properties from $14.00 to $17.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. BTIG Research reiterated a “buy” rating and set a $26.00 price target on shares of Hudson Pacific Properties in a report on Wednesday, May 6th. Finally, Wall Street Zen lowered Hudson Pacific Properties from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.57.
Read Our Latest Analysis on HPP
About Hudson Pacific Properties
Hudson Pacific Properties (NYSE: HPP) is a self-managed real estate investment trust focused on the acquisition, development and management of high-quality office and studio properties. The company’s portfolio spans strategic West Coast markets in the United States and key markets in Canada, providing space for technology, media and creative companies as well as major film and television producers. As an owner and operator of both traditional office buildings and specialized production facilities, Hudson Pacific seeks to deliver stable income through long-term leases and strategic property enhancements.
In its office segment, Hudson Pacific targets markets with strong job growth and limited supply, including Los Angeles, Silicon Valley, San Diego and Seattle, as well as Vancouver, British Columbia.
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