Nomura Asset Management Co. Ltd. lessened its stake in Hudson Pacific Properties Inc (NYSE:HPP) by 12.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 95,394 shares of the real estate investment trust’s stock after selling 12,960 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.06% of Hudson Pacific Properties worth $3,199,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Schwab Charles Investment Management Inc. raised its holdings in Hudson Pacific Properties by 9.1% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,599,938 shares of the real estate investment trust’s stock worth $53,646,000 after purchasing an additional 133,990 shares during the period. State Board of Administration of Florida Retirement System grew its position in shares of Hudson Pacific Properties by 4.2% in the third quarter. State Board of Administration of Florida Retirement System now owns 118,636 shares of the real estate investment trust’s stock valued at $3,978,000 after purchasing an additional 4,740 shares in the last quarter. Honeywell International Inc. grew its position in shares of Hudson Pacific Properties by 27.8% in the third quarter. Honeywell International Inc. now owns 64,220 shares of the real estate investment trust’s stock valued at $2,153,000 after purchasing an additional 13,950 shares in the last quarter. State of Wisconsin Investment Board purchased a new stake in shares of Hudson Pacific Properties in the second quarter valued at approximately $1,064,000. Finally, Commonwealth Bank of Australia grew its position in shares of Hudson Pacific Properties by 3.1% in the third quarter. Commonwealth Bank of Australia now owns 1,330,204 shares of the real estate investment trust’s stock valued at $44,599,000 after purchasing an additional 40,288 shares in the last quarter. 99.47% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently weighed in on HPP shares. Goldman Sachs Group started coverage on Hudson Pacific Properties in a research report on Tuesday, September 19th. They issued a “buy” rating and a $39.00 price objective for the company. KeyCorp reiterated a “buy” rating on shares of Hudson Pacific Properties in a research report on Tuesday, September 26th. Finally, Zacks Investment Research upgraded Hudson Pacific Properties from a “sell” rating to a “hold” rating in a research note on Monday, November 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $38.33.
Hudson Pacific Properties Inc (NYSE:HPP) traded down $0.34 during midday trading on Tuesday, hitting $33.91. The company had a trading volume of 573,453 shares, compared to its average volume of 635,250. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.32. Hudson Pacific Properties Inc has a 52-week low of $31.52 and a 52-week high of $36.75. The stock has a market capitalization of $5,320.00, a price-to-earnings ratio of 86.95, a P/E/G ratio of 2.89 and a beta of 0.78.
Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.50 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.50. The firm had revenue of $190.02 million during the quarter, compared to the consensus estimate of $183.37 million. Hudson Pacific Properties had a net margin of 8.98% and a return on equity of 1.58%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.46 earnings per share. equities analysts forecast that Hudson Pacific Properties Inc will post 1.96 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Monday, December 18th were given a dividend of $0.25 per share. The ex-dividend date was Friday, December 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.95%. Hudson Pacific Properties’s payout ratio is 256.41%.
In related news, insider Richard B. Fried sold 17,417 shares of Hudson Pacific Properties stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $34.66, for a total transaction of $603,673.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sanford Dale Shimoda sold 2,800 shares of Hudson Pacific Properties stock in a transaction that occurred 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 sale, the executive vice president now directly owns 83,072 shares of the company’s stock, valued at $2,964,008.96. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.
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Hudson Pacific Properties Profile
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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