Rhumbline Advisers Sells 4,052 Shares of Hudson Pacific Properties, Inc. (NYSE:HPP)

Rhumbline Advisers lessened its holdings in Hudson Pacific Properties, Inc. (NYSE:HPP) by 0.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 444,584 shares of the real estate investment trust’s stock after selling 4,052 shares during the quarter. Rhumbline Advisers owned approximately 0.31% of Hudson Pacific Properties worth $2,138,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of HPP. Key Client Fiduciary Advisors LLC acquired a new position in Hudson Pacific Properties in the second quarter valued at approximately $53,000. Chicago Partners Investment Group LLC acquired a new position in shares of Hudson Pacific Properties in the 4th quarter valued at $125,000. NorthRock Partners LLC acquired a new position in shares of Hudson Pacific Properties in the 1st quarter valued at $104,000. Shell Asset Management Co. bought a new position in shares of Hudson Pacific Properties in the 1st quarter worth $107,000. Finally, GAMMA Investing LLC grew its stake in shares of Hudson Pacific Properties by 62.4% during the first quarter. GAMMA Investing LLC now owns 17,864 shares of the real estate investment trust’s stock worth $115,000 after purchasing an additional 6,862 shares during the period. Institutional investors own 97.58% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on HPP shares. The Goldman Sachs Group cut their target price on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. BMO Capital Markets downgraded shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and cut their price target for the company from $8.00 to $6.00 in a research report on Thursday, August 8th. Bank of America decreased their price objective on shares of Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a report on Thursday, August 22nd. Piper Sandler lowered shares of Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $7.00 to $6.00 in a report on Thursday, August 8th. Finally, Wells Fargo & Company decreased their price target on shares of Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a report on Wednesday, September 11th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.95.

Insiders Place Their Bets

In other Hudson Pacific Properties news, Director Jonathan M. Glaser sold 9,287 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $5.20, for a total transaction of $48,292.40. Following the sale, the director now directly owns 3,713 shares of the company’s stock, valued at approximately $19,307.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.95% of the company’s stock.

Hudson Pacific Properties Price Performance

Shares of NYSE HPP opened at $5.29 on Friday. The company has a fifty day moving average price of $5.21 and a 200 day moving average price of $5.45. The firm has a market cap of $746.66 million, a PE ratio of -3.31, a PEG ratio of 0.84 and a beta of 1.31. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.41. Hudson Pacific Properties, Inc. has a 1-year low of $4.26 and a 1-year high of $9.85.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported ($0.33) earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.50). Hudson Pacific Properties had a negative return on equity of 7.41% and a negative net margin of 25.42%. The firm had revenue of $218.00 million for the quarter, compared to analyst estimates of $216.08 million. During the same period in the prior year, the company earned $0.24 earnings per share. The firm’s quarterly revenue was down 11.1% on a year-over-year basis. Research analysts predict that Hudson Pacific Properties, Inc. will post 0.62 earnings per share for the current fiscal year.

About Hudson Pacific Properties

Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific's unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space.