JPMorgan Chase & Co. Reduces Stock Position in Hudson Pacific Properties, Inc. (NYSE:HPP)

JPMorgan Chase & Co. lessened its holdings in Hudson Pacific Properties, Inc. (NYSE:HPP) by 60.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 370,434 shares of the real estate investment trust’s stock after selling 563,624 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.26% of Hudson Pacific Properties worth $1,771,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of HPP. Blue Trust Inc. increased its holdings in Hudson Pacific Properties by 549.1% in the third quarter. Blue Trust Inc. now owns 5,926 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 5,013 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in Hudson Pacific Properties in the third quarter valued at $44,000. Stifel Financial Corp acquired a new position in Hudson Pacific Properties in the third quarter valued at $48,000. MQS Management LLC acquired a new position in Hudson Pacific Properties in the third quarter valued at $58,000. Finally, Metis Global Partners LLC acquired a new position in Hudson Pacific Properties in the third quarter valued at $66,000. Hedge funds and other institutional investors own 97.58% of the company’s stock.

Analyst Upgrades and Downgrades

HPP has been the subject of several research analyst reports. Jefferies Financial Group decreased their price objective on shares of Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Piper Sandler reduced their price objective on shares of Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a research report on Friday, November 15th. Finally, Mizuho reduced their price objective on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.08.

Insider Buying and Selling

In other news, CEO Victor J. Coleman bought 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were purchased 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. The trade was a 12.90 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.92% of the stock is owned by company insiders.

Hudson Pacific Properties Trading Down 1.1 %

Shares of HPP opened at $3.14 on Thursday. 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 firm has a 50 day simple moving average of $3.18 and a 200-day simple moving average of $4.32. Hudson Pacific Properties, Inc. has a 1-year low of $2.39 and a 1-year high of $9.25. The stock has a market cap of $442.76 million, a price-to-earnings ratio of -1.50 and a beta of 1.30.

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.