Texas Permanent School Fund Corp Boosts Holdings in Hudson Pacific Properties, Inc. (NYSE:HPP)

Texas Permanent School Fund Corp grew its position in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 28.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,802 shares of the real estate investment trust’s stock after purchasing an additional 31,939 shares during the period. Texas Permanent School Fund Corp owned approximately 0.10% of Hudson Pacific Properties worth $687,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Key Client Fiduciary Advisors LLC purchased a new position in Hudson Pacific Properties during the second quarter worth about $53,000. NorthRock Partners LLC bought a new stake in shares of Hudson Pacific Properties during the 1st quarter valued at about $104,000. Shell Asset Management Co. purchased a new position in shares of Hudson Pacific Properties during the first quarter worth about $107,000. GAMMA Investing LLC increased its position in shares of Hudson Pacific Properties by 62.4% in 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 last quarter. Finally, Chicago Partners Investment Group LLC purchased a new stake in Hudson Pacific Properties in the fourth quarter valued at approximately $125,000. Institutional investors own 97.58% of the company’s stock.

Insider Buying and Selling at Hudson Pacific Properties

In other news, Director Jonathan M. Glaser sold 9,287 shares of Hudson Pacific Properties stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $5.20, for a total value of $48,292.40. Following the sale, the director now directly owns 3,713 shares in the company, valued at approximately $19,307.60. The sale was disclosed in a filing with the SEC, which is available through this link. 2.95% of the stock is currently owned by corporate insiders.

Hudson Pacific Properties Stock Down 3.4 %

Shares of Hudson Pacific Properties stock opened at $5.11 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.47 and a current ratio of 1.47. Hudson Pacific Properties, Inc. has a 52-week low of $4.26 and a 52-week high of $9.85. The company’s 50 day moving average price is $5.20 and its 200-day moving average price is $5.43. The stock has a market capitalization of $721.25 million, a price-to-earnings ratio of -3.19, a P/E/G ratio of 0.84 and a beta of 1.31.

Hudson Pacific Properties (NYSE:HPP) last released its quarterly earnings data on Wednesday, August 7th. The real estate investment trust reported ($0.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.50). The firm had revenue of $218.00 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 EPS. Equities research analysts forecast that Hudson Pacific Properties, Inc. will post 0.62 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group decreased their price target on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. BMO Capital Markets downgraded Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $8.00 to $6.00 in a research report on Thursday, August 8th. Morgan Stanley cut Hudson Pacific Properties from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $6.00 to $4.25 in a report on Wednesday, July 10th. Piper Sandler cut Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $7.00 to $6.00 in a report on Thursday, August 8th. Finally, Scotiabank cut their target price on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating for the company in a research note on Monday, August 26th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Hudson Pacific Properties currently has an average rating of “Hold” and an average price target 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.