Hudson Pacific Properties, Inc. (NYSE:HPP) Shares Bought by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its position in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 5.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,760 shares of the real estate investment trust’s stock after acquiring an additional 5,448 shares during the quarter. Thrivent Financial for Lutherans owned about 0.08% of Hudson Pacific Properties worth $529,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its stake in Hudson Pacific Properties by 9.9% during the third quarter. Van ECK Associates Corp now owns 26,718 shares of the real estate investment trust’s stock worth $123,000 after acquiring an additional 2,399 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Hudson Pacific Properties by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 83,572 shares of the real estate investment trust’s stock valued at $402,000 after buying an additional 2,408 shares in the last quarter. abrdn plc grew its stake in shares of Hudson Pacific Properties by 10.5% in the third quarter. abrdn plc now owns 28,406 shares of the real estate investment trust’s stock valued at $136,000 after buying an additional 2,710 shares in the last quarter. Amalgamated Bank grew its stake in shares of Hudson Pacific Properties by 10.0% in the third quarter. Amalgamated Bank now owns 41,738 shares of the real estate investment trust’s stock valued at $200,000 after buying an additional 3,802 shares in the last quarter. Finally, Everence Capital Management Inc. grew its stake in shares of Hudson Pacific Properties by 17.4% in the third quarter. Everence Capital Management Inc. now owns 27,430 shares of the real estate investment trust’s stock valued at $131,000 after buying an additional 4,070 shares in the last quarter. 97.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Hudson Pacific Properties

In related news, COO Andy Wattula sold 9,356 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $5.28, for a total value of $49,399.68. Following the sale, the chief operating officer now directly owns 61,068 shares in the company, valued at $322,439.04. This trade represents a 13.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Victor J. Coleman bought 50,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was acquired at an average price of $3.53 per share, for a total transaction of $176,500.00. Following the completion of the transaction, the chief executive officer now owns 437,451 shares in the company, valued at $1,544,202.03. This trade represents a 12.90 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.92% of the stock is owned by insiders.

Hudson Pacific Properties Stock Up 2.8 %

HPP opened at $3.81 on Thursday. Hudson Pacific Properties, Inc. has a 12 month low of $3.01 and a 12 month high of $9.85. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market cap of $537.38 million, a P/E ratio of -1.82 and a beta of 1.27. The stock’s 50 day moving average price is $4.24 and its 200 day moving average price is $4.77.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Piper Sandler reduced their price target on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a report on Friday, November 15th. Scotiabank reduced their target price on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Monday, August 26th. Bank of America reduced their target price on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a report on Thursday, August 22nd. Jefferies Financial Group downgraded Hudson Pacific Properties from a “buy” rating to a “hold” rating and reduced their target price for the stock from $5.50 to $5.00 in a report on Tuesday, November 12th. Finally, BMO Capital Markets downgraded Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $8.00 to $6.00 in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $6.17.

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.