Janney Montgomery Scott LLC reduced its holdings in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,232 shares of the real estate investment trust’s stock after selling 1,165 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Hudson Pacific Properties were worth $1,628,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also added to or reduced their stakes in HPP. WASHINGTON TRUST Co bought a new stake in Hudson Pacific Properties in the 2nd quarter worth about $30,000. Advisor Group Holdings Inc. bought a new stake in shares of Hudson Pacific Properties in the first quarter worth approximately $51,000. Kore Private Wealth LLC purchased a new position in shares of Hudson Pacific Properties during the second quarter valued at approximately $75,000. Rowland Carmichael Advisors Inc. ADV bought a new position in Hudson Pacific Properties during the second quarter valued at approximately $202,000. Finally, Vestmark Advisory Solutions Inc. boosted its holdings in Hudson Pacific Properties by 5.6% in the third quarter. Vestmark Advisory Solutions Inc. now owns 9,496 shares of the real estate investment trust’s stock worth $208,000 after purchasing an additional 507 shares during the last quarter.
Shares of HPP stock opened at $26.23 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.28 and a quick ratio of 0.91. Hudson Pacific Properties, Inc. has a one year low of $16.14 and a one year high of $38.81. The company’s fifty day moving average price is $21.95 and its 200-day moving average price is $23.37. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of 187.36, a PEG ratio of 2.44 and a beta of 0.78.
Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings results on Thursday, October 29th. The real estate investment trust reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.48). The business had revenue of $196.29 million for the quarter, compared to the consensus estimate of $191.95 million. Hudson Pacific Properties had a net margin of 2.76% and a return on equity of 0.61%. Hudson Pacific Properties’s revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.51 earnings per share. Equities research analysts expect that Hudson Pacific Properties, Inc. will post 1.89 earnings per share for the current fiscal year.
Several equities analysts have recently weighed in on HPP shares. ValuEngine cut Hudson Pacific Properties from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. TheStreet downgraded Hudson Pacific Properties from a “c” rating to a “d+” rating in a research note on Friday, October 30th. Bank of America increased their price objective on shares of Hudson Pacific Properties from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, November 16th. Wells Fargo & Company cut their target price on shares of Hudson Pacific Properties from $32.00 to $25.50 and set an “overweight” rating for the company in a research report on Wednesday, September 23rd. Finally, Zacks Investment Research downgraded shares of Hudson Pacific Properties from a “hold” rating to a “sell” rating in a research report on Thursday, October 29th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $26.44.
In other news, Director Jonathan M. Glaser sold 7,500 shares of the business’s stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $24.13, for a total value of $180,975.00. Following the transaction, the director now owns 124,904 shares of the company’s stock, valued at $3,013,933.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.37% of the company’s stock.
About Hudson Pacific Properties
Hudson Pacific is a real estate investment trust with a portfolio of office and studio properties totaling nearly 19 million square feet, including land for development. 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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