Westpac Banking Corp trimmed its stake in shares of Hudson Pacific Properties Inc (NYSE:HPP) by 17.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 453,238 shares of the real estate investment trust’s stock after selling 94,295 shares during the quarter. Westpac Banking Corp owned about 0.29% of Hudson Pacific Properties worth $15,523,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in HPP. Comerica Bank raised its position in shares of Hudson Pacific Properties by 37.5% during the 2nd quarter. Comerica Bank now owns 11,464 shares of the real estate investment trust’s stock worth $367,000 after purchasing an additional 3,124 shares during the period. TIAA CREF Investment Management LLC increased its position in Hudson Pacific Properties by 27.3% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 691,880 shares of the real estate investment trust’s stock valued at $23,655,000 after acquiring an additional 148,295 shares during the period. Amalgamated Bank increased its position in Hudson Pacific Properties by 97.9% in the 2nd quarter. Amalgamated Bank now owns 28,105 shares of the real estate investment trust’s stock valued at $961,000 after acquiring an additional 13,905 shares during the period. Laurion Capital Management LP acquired a new stake in Hudson Pacific Properties in the 2nd quarter valued at approximately $1,822,000. Finally, Thrivent Financial For Lutherans increased its position in Hudson Pacific Properties by 6.9% in the 2nd quarter. Thrivent Financial For Lutherans now owns 112,719 shares of the real estate investment trust’s stock valued at $3,853,000 after acquiring an additional 7,300 shares during the period. Institutional investors and hedge funds own 99.67% of the company’s stock.
Shares of Hudson Pacific Properties Inc (NYSE:HPP) opened at $32.46 on Thursday. Hudson Pacific Properties Inc has a 1 year low of $31.52 and a 1 year high of $36.75. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.32 and a quick ratio of 1.32. The company has a market capitalization of $5,101.63, a P/E ratio of 79.17, a P/E/G ratio of 2.67 and a beta of 0.79.
Hudson Pacific Properties (NYSE:HPP) last posted its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. The firm had revenue of $190.02 million for the quarter, compared to analysts’ expectations of $183.37 million. Hudson Pacific Properties had a return on equity of 1.58% and a net margin of 8.98%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same period last year, the firm earned $0.46 EPS. equities analysts anticipate that Hudson Pacific Properties Inc will post 1.96 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Monday, December 18th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend was Friday, December 15th. Hudson Pacific Properties’s payout ratio is currently 243.90%.
Several research firms recently commented on HPP. Zacks Investment Research cut Hudson Pacific Properties from a “hold” rating to a “sell” rating in a research report on Wednesday. KeyCorp restated a “buy” rating on shares of Hudson Pacific Properties in a research report on Tuesday, September 26th. Sandler O’Neill cut Hudson Pacific Properties from a “buy” rating to a “hold” rating and set a $36.00 target price on the stock. in a research report on Friday, January 12th. Finally, Goldman Sachs Group cut Hudson Pacific Properties from a “buy” rating to a “neutral” rating in a research report on Monday, November 20th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Hudson Pacific Properties presently has an average rating of “Hold” and a consensus price target of $37.67.
In other Hudson Pacific Properties news, EVP Sanford Dale Shimoda sold 2,800 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $35.68, for a total transaction of $99,904.00. Following the completion of the transaction, the executive vice president now directly owns 83,072 shares of the company’s stock, valued at approximately $2,964,008.96. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Richard B. Fried sold 17,417 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $34.66, for a total value of $603,673.22. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.
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About Hudson Pacific Properties
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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