Renaissance Technologies LLC boosted its position in shares of Hudson Pacific Properties Inc (NYSE:HPP) by 162.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,105,900 shares of the real estate investment trust’s stock after purchasing an additional 683,900 shares during the period. Renaissance Technologies LLC owned 0.71% of Hudson Pacific Properties worth $39,182,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cbre Clarion Securities LLC grew its holdings in shares of Hudson Pacific Properties by 167.9% during the 2nd quarter. Cbre Clarion Securities LLC now owns 4,568,180 shares of the real estate investment trust’s stock valued at $161,851,000 after acquiring an additional 2,862,705 shares in the last quarter. Heitman Real Estate Securities LLC grew its holdings in shares of Hudson Pacific Properties by 10.9% during the 2nd quarter. Heitman Real Estate Securities LLC now owns 1,550,710 shares of the real estate investment trust’s stock valued at $59,940,000 after acquiring an additional 152,208 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Hudson Pacific Properties by 17.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 19,628 shares of the real estate investment trust’s stock valued at $695,000 after acquiring an additional 2,853 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new position in shares of Hudson Pacific Properties during the 2nd quarter valued at $13,109,000. Finally, Citadel Advisors LLC grew its holdings in shares of Hudson Pacific Properties by 104.1% during the 2nd quarter. Citadel Advisors LLC now owns 1,706,962 shares of the real estate investment trust’s stock valued at $60,478,000 after acquiring an additional 870,665 shares in the last quarter.
HPP has been the topic of several research analyst reports. Robert W. Baird cut shares of Hudson Pacific Properties from an “outperform” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Tuesday, August 21st. TheStreet cut shares of Hudson Pacific Properties from a “b” rating to a “c+” rating in a report on Wednesday, August 8th. DA Davidson set a $45.00 price target on shares of Hudson Pacific Properties and gave the company a “buy” rating in a report on Thursday, May 31st. Bank of America boosted their price target on shares of Hudson Pacific Properties from $39.00 to $40.00 and gave the company a “buy” rating in a report on Friday, May 25th. Finally, Mizuho restated a “hold” rating and set a $34.00 price target on shares of Hudson Pacific Properties in a report on Monday, August 6th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Hudson Pacific Properties currently has an average rating of “Buy” and an average target price of $38.10.
Shares of NYSE:HPP opened at $32.30 on Monday. The firm has a market capitalization of $5.11 billion, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 3.10 and a beta of 0.61. Hudson Pacific Properties Inc has a 1 year low of $28.25 and a 1 year high of $36.06. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.30 and a quick ratio of 1.30.
Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.37). The business had revenue of $175.17 million during the quarter, compared to the consensus estimate of $173.98 million. Hudson Pacific Properties had a return on equity of 2.76% and a net margin of 15.29%. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.48 earnings per share. equities analysts anticipate that Hudson Pacific Properties Inc will post 1.87 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Tuesday, September 18th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Monday, September 17th. Hudson Pacific Properties’s dividend payout ratio is presently 50.25%.
In other Hudson Pacific Properties news, EVP Christopher James Barton sold 20,166 shares of the business’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $33.02, for a total transaction of $665,881.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jonathan M. Glaser bought 6,000 shares of the business’s stock in a transaction on Wednesday, September 5th. The shares were purchased at an average cost of $32.97 per share, with a total value of $197,820.00. The disclosure for this purchase can be found here. Corporate insiders own 1.93% of the company’s stock.
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 value.
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