Meeder Asset Management Inc. purchased a new position in shares of Hudson Pacific Properties Inc (NYSE:HPP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,299 shares of the real estate investment trust’s stock, valued at approximately $476,000.
Other institutional investors and hedge funds have also modified their holdings of the company. CIBC Asset Management Inc acquired a new stake in Hudson Pacific Properties in the first quarter valued at approximately $200,000. First Republic Investment Management Inc. acquired a new stake in Hudson Pacific Properties during the first quarter worth approximately $201,000. Fox Run Management L.L.C. acquired a new stake in Hudson Pacific Properties during the second quarter worth approximately $203,000. Sumitomo Mitsui Asset Management Company LTD acquired a new stake in Hudson Pacific Properties during the first quarter worth approximately $209,000. Finally, Rockefeller Capital Management L.P. acquired a new stake in Hudson Pacific Properties during the first quarter worth approximately $210,000.
In other news, CEO Victor J. Coleman sold 38,749 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $33.63, for a total transaction of $1,303,128.87. Following the transaction, the chief executive officer now directly owns 686,901 shares in the company, valued at $23,100,480.63. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jonathan M. Glaser bought 1,000 shares of the stock in a transaction dated Friday, August 16th. The shares were acquired at an average price of $33.27 per share, for a total transaction of $33,270.00. Following the completion of the transaction, the director now owns 127,649 shares of the company’s stock, valued at approximately $4,246,882.23. The disclosure for this purchase can be found here. Company insiders own 1.95% of the company’s stock.
Shares of HPP opened at $33.71 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.89. The firm has a market cap of $5.20 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 2.80 and a beta of 0.67. The company’s 50 day simple moving average is $34.31 and its 200-day simple moving average is $34.12. Hudson Pacific Properties Inc has a 12-month low of $27.12 and a 12-month high of $36.19.
Hudson Pacific Properties (NYSE:HPP) last announced its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.42). The business had revenue of $196.66 million for the quarter, compared to analysts’ expectations of $199.85 million. Hudson Pacific Properties had a return on equity of 0.16% and a net margin of 0.80%. The business’s revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the business posted $0.46 earnings per share. As a group, equities research analysts forecast that Hudson Pacific Properties Inc will post 2 EPS for the current fiscal year.
A number of research firms have weighed in on HPP. Zacks Investment Research cut shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating in a report on Friday, July 5th. TheStreet cut shares of Hudson Pacific Properties from a “b” rating to a “c” rating in a report on Friday, May 3rd. Finally, Robert W. Baird set a $40.00 price objective on shares of Hudson Pacific Properties and gave the stock a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $38.50.
Hudson Pacific Properties Company 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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