Bank of New York Mellon Corp Trims Stock Holdings in Hudson Pacific Properties, Inc. (NYSE:HPP)

Bank of New York Mellon Corp lowered its holdings in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 44.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 591,962 shares of the real estate investment trust’s stock after selling 476,437 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.42% of Hudson Pacific Properties worth $1,794,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Y Intercept Hong Kong Ltd grew its position in shares of Hudson Pacific Properties by 197.5% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 368,175 shares of the real estate investment trust’s stock worth $1,116,000 after purchasing an additional 244,410 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Hudson Pacific Properties during the fourth quarter worth about $436,000. Sanctuary Advisors LLC purchased a new stake in shares of Hudson Pacific Properties during the fourth quarter worth about $45,000. Asset Management One Co. Ltd. grew its position in shares of Hudson Pacific Properties by 9.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 206,656 shares of the real estate investment trust’s stock worth $614,000 after purchasing an additional 18,279 shares in the last quarter. Finally, Opinicus Capital Inc. purchased a new stake in shares of Hudson Pacific Properties during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 97.58% of the company’s stock.

Hudson Pacific Properties Price Performance

NYSE:HPP opened at $2.93 on Friday. The firm has a market capitalization of $413.46 million, a price-to-earnings ratio of -1.14 and a beta of 1.31. Hudson Pacific Properties, Inc. has a 1 year low of $2.39 and a 1 year high of $6.69. The business has a 50 day simple moving average of $3.02 and a 200-day simple moving average of $3.66. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. The business had revenue of $209.67 million during the quarter, compared to analyst estimates of $207.95 million. Hudson Pacific Properties had a negative return on equity of 12.64% and a negative net margin of 44.01%. Equities analysts forecast that Hudson Pacific Properties, Inc. will post 0.45 EPS for the current year.

Analyst Upgrades and Downgrades

HPP has been the subject of several research analyst reports. Scotiabank cut their target price on Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 18th. Morgan Stanley dropped their price target on Hudson Pacific Properties from $2.40 to $2.25 and set an “underweight” rating for the company in a research note on Tuesday, March 18th. The Goldman Sachs Group dropped their price target on Hudson Pacific Properties from $3.90 to $3.40 and set a “neutral” rating for the company in a research note on Tuesday, February 25th. Jefferies Financial Group initiated coverage on Hudson Pacific Properties in a research note on Monday, March 17th. They set a “hold” rating and a $2.70 price target for the company. Finally, Wells Fargo & Company raised Hudson Pacific Properties from an “equal weight” rating to an “overweight” rating and set a $4.00 price target for the company in a research note on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $3.54.

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.