State Board of Administration of Florida Retirement System boosted its position in Hudson Pacific Properties Inc (NYSE:HPP) by 0.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,761 shares of the real estate investment trust’s stock after purchasing an additional 600 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Hudson Pacific Properties were worth $5,258,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of HPP. We Are One Seven LLC acquired a new stake in shares of Hudson Pacific Properties in the fourth quarter valued at about $112,000. First Republic Investment Management Inc. acquired a new stake in shares of Hudson Pacific Properties in the first quarter valued at about $201,000. Comerica Bank acquired a new stake in shares of Hudson Pacific Properties in the fourth quarter valued at about $233,000. Nisa Investment Advisors LLC increased its stake in shares of Hudson Pacific Properties by 2,262.9% in the first quarter. Nisa Investment Advisors LLC now owns 7,325 shares of the real estate investment trust’s stock valued at $252,000 after buying an additional 7,015 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Hudson Pacific Properties in the first quarter valued at about $395,000.
Several brokerages have recently weighed in on HPP. TheStreet cut Hudson Pacific Properties from a “b” rating to a “c” rating in a research note on Friday, May 3rd. Zacks Investment Research cut Hudson Pacific Properties from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Goldman Sachs Group raised Hudson Pacific Properties from a “neutral” rating to a “buy” rating and increased their price target for the company from $37.00 to $40.00 in a research note on Monday, March 11th. Finally, Sandler O’Neill raised Hudson Pacific Properties from a “hold” rating to a “buy” rating in a research note on Friday, February 15th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $38.67.
Shares of NYSE:HPP opened at $34.15 on Thursday. The company has a market capitalization of $5.26 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 2.64 and a beta of 0.72. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.17 and a current ratio of 1.17. Hudson Pacific Properties Inc has a 52-week low of $27.12 and a 52-week high of $36.06.
Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. The business had revenue of $197.39 million for the quarter, compared to analyst estimates of $194.62 million. Hudson Pacific Properties had a return on equity of 0.33% and a net margin of 1.68%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.45 earnings per share. Equities research analysts anticipate that Hudson Pacific Properties Inc will post 2 earnings per share for the current year.
In other Hudson Pacific Properties news, EVP Christopher James Barton sold 27,756 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $34.67, for a total value of $962,300.52. Following the transaction, the executive vice president now owns 89,609 shares in the company, valued at $3,106,744.03. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Alex Vouvalides sold 43,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $35.10, for a total value of $1,509,300.00. Following the completion of the transaction, the insider now owns 130,940 shares in the company, valued at approximately $4,595,994. The disclosure for this sale can be found here. In the last quarter, insiders sold 127,591 shares of company stock worth $4,427,861. Corporate insiders own 1.95% of the company’s stock.
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Hudson Pacific Properties Profile
Hudson Pacific Properties is a visionary real estate investment trust that owns and operates more than 17 million square feet of marquee office and studio properties. Focused on premier West Coast epicenters of innovation, media and technology, its anchor tenants include Fortune 500 and leading growth companies such as Netflix, Google, Square, Uber, NFL Enterprises and more.
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