Hudson Pacific Properties, Inc. (NYSE:HPP) Shares Sold by Hazelview Securities Inc.

Hazelview Securities Inc. trimmed its position in Hudson Pacific Properties, Inc. (NYSE:HPP) by 33.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,048,400 shares of the real estate investment trust’s stock after selling 533,000 shares during the quarter. Hudson Pacific Properties comprises 1.3% of Hazelview Securities Inc.’s investment portfolio, making the stock its 24th biggest position. Hazelview Securities Inc. owned 0.74% of Hudson Pacific Properties worth $6,657,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Financial Gravity Asset Management Inc. raised its holdings in Hudson Pacific Properties by 103,925.0% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 4,161 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 4,157 shares during the period. Tower Research Capital LLC TRC grew its stake in Hudson Pacific Properties by 42.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 7,688 shares of the real estate investment trust’s stock worth $72,000 after purchasing an additional 2,286 shares in the last quarter. Versor Investments LP purchased a new stake in Hudson Pacific Properties during the 4th quarter worth about $99,000. First Trust Direct Indexing L.P. acquired a new stake in Hudson Pacific Properties in the 4th quarter valued at about $102,000. Finally, Spirit of America Management Corp NY purchased a new position in shares of Hudson Pacific Properties in the 4th quarter valued at about $102,000. Hedge funds and other institutional investors own 97.58% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Victor J. Coleman sold 100,000 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $5.18, for a total transaction of $518,000.00. Following the transaction, the chief executive officer now directly owns 387,451 shares in the company, valued at approximately $2,006,996.18. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders bought 13,420 shares of company stock worth $59,912. 2.95% of the stock is owned by insiders.

Hudson Pacific Properties Price Performance

HPP stock traded up $0.04 on Wednesday, hitting $4.76. The company’s stock had a trading volume of 1,597,261 shares, compared to its average volume of 2,431,739. The firm has a 50 day moving average of $5.21 and a two-hundred day moving average of $6.73. Hudson Pacific Properties, Inc. has a 1 year low of $4.05 and a 1 year high of $9.85. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 1.38.

Hudson Pacific Properties (NYSE:HPP) last released its quarterly earnings results on Wednesday, May 1st. The real estate investment trust reported ($0.37) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.53). Hudson Pacific Properties had a negative net margin of 23.48% and a negative return on equity of 6.91%. The business had revenue of $214.02 million during the quarter, compared to analysts’ expectations of $220.61 million. Research analysts expect that Hudson Pacific Properties, Inc. will post 0.9 earnings per share for the current fiscal year.

Hudson Pacific Properties Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Monday, June 17th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 annualized dividend and a yield of 4.20%. Hudson Pacific Properties’s dividend payout ratio (DPR) is -12.50%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wolfe Research raised shares of Hudson Pacific Properties from a “peer perform” rating to an “outperform” rating and set a $8.40 target price on the stock in a report on Monday, March 18th. The Goldman Sachs Group lowered their target price on shares of Hudson Pacific Properties from $9.00 to $7.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. Morgan Stanley cut their price target on Hudson Pacific Properties from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $7.00 price objective (down previously from $9.00) on shares of Hudson Pacific Properties in a report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $8.49.

Hudson Pacific Properties 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.