DekaBank Deutsche Girozentrale Trims Stock Holdings in Hudson Pacific Properties, Inc. (NYSE:HPP)

DekaBank Deutsche Girozentrale lowered its stake in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 20.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,133 shares of the real estate investment trust’s stock after selling 8,430 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Hudson Pacific Properties were worth $159,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. B&I Capital AG lifted its holdings in shares of Hudson Pacific Properties by 23.4% in the second quarter. B&I Capital AG now owns 1,699,283 shares of the real estate investment trust’s stock worth $8,174,000 after buying an additional 322,033 shares in the last quarter. Texas Permanent School Fund Corp boosted its holdings in Hudson Pacific Properties by 28.8% in the 2nd quarter. Texas Permanent School Fund Corp now owns 142,802 shares of the real estate investment trust’s stock valued at $687,000 after purchasing an additional 31,939 shares during the period. Davis Selected Advisers grew its position in shares of Hudson Pacific Properties by 78.0% during the 2nd quarter. Davis Selected Advisers now owns 1,224,493 shares of the real estate investment trust’s stock valued at $5,890,000 after purchasing an additional 536,540 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Hudson Pacific Properties by 37.3% in the second quarter. Victory Capital Management Inc. now owns 110,566 shares of the real estate investment trust’s stock worth $532,000 after purchasing an additional 30,058 shares during the period. Finally, Wolverine Asset Management LLC raised its position in shares of Hudson Pacific Properties by 6.4% in the second quarter. Wolverine Asset Management LLC now owns 404,949 shares of the real estate investment trust’s stock worth $1,948,000 after buying an additional 24,235 shares in the last quarter. 97.58% of the stock is owned by institutional investors.

Hudson Pacific Properties Trading Down 3.4 %

HPP opened at $5.11 on Friday. The business has a 50 day moving average of $5.20 and a 200-day moving average of $5.43. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.41. The stock has a market cap of $721.25 million, a PE ratio of -3.19, a PEG ratio of 0.84 and a beta of 1.31. Hudson Pacific Properties, Inc. has a 52 week low of $4.26 and a 52 week high of $9.85.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings results 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). The firm had revenue of $218.00 million for the quarter, compared to the consensus estimate of $216.08 million. Hudson Pacific Properties had a negative net margin of 25.42% and a negative return on equity of 7.41%. Hudson Pacific Properties’s revenue was down 11.1% on a year-over-year basis. During the same period last year, the business earned $0.24 EPS. Equities research analysts predict that Hudson Pacific Properties, Inc. will post 0.62 earnings per share for the current fiscal year.

Insider Transactions at Hudson Pacific Properties

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Bank of America reduced their target price on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a research report on Thursday, August 22nd. Wolfe Research downgraded shares of Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. BMO Capital Markets lowered shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $8.00 to $6.00 in a report on Thursday, August 8th. Scotiabank dropped their price objective on shares of Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating for the company in a report on Monday, August 26th. Finally, Wells Fargo & Company reduced their target price on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating on the stock in a research note on Wednesday, September 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $6.95.

Hudson Pacific Properties Company Profile

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.