The Manufacturers Life Insurance Company Buys 2,408 Shares of Hudson Pacific Properties, Inc. (NYSE:HPP)

The Manufacturers Life Insurance Company grew its holdings in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 3.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,572 shares of the real estate investment trust’s stock after purchasing an additional 2,408 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.06% of Hudson Pacific Properties worth $402,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Millennium Management LLC raised its stake in Hudson Pacific Properties by 282.7% in the second quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock valued at $8,594,000 after purchasing an additional 1,319,869 shares in the last quarter. Davis Selected Advisers boosted its holdings in Hudson Pacific Properties by 78.0% in the second quarter. Davis Selected Advisers now owns 1,224,493 shares of the real estate investment trust’s stock valued at $5,890,000 after acquiring an additional 536,540 shares in the last quarter. Kennedy Capital Management LLC lifted its position in Hudson Pacific Properties by 50.6% during the first quarter. Kennedy Capital Management LLC now owns 1,240,292 shares of the real estate investment trust’s stock valued at $8,000,000 after buying an additional 416,591 shares during the period. Marshall Wace LLP lifted its position in Hudson Pacific Properties by 1,132.6% during the second quarter. Marshall Wace LLP now owns 363,048 shares of the real estate investment trust’s stock valued at $1,746,000 after buying an additional 333,594 shares during the period. Finally, B&I Capital AG lifted its position in Hudson Pacific Properties by 23.4% during the second quarter. B&I Capital AG now owns 1,699,283 shares of the real estate investment trust’s stock valued at $8,174,000 after buying an additional 322,033 shares during the period. Institutional investors own 97.58% of the company’s stock.

Hudson Pacific Properties Stock Performance

Shares of Hudson Pacific Properties stock opened at $4.67 on Thursday. The stock’s fifty day moving average price is $4.87 and its 200-day moving average price is $5.19. Hudson Pacific Properties, Inc. has a 12 month low of $4.26 and a 12 month high of $9.85. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 1.41. The firm has a market cap of $659.15 million, a P/E ratio of -2.92 and a beta of 1.31.

Hudson Pacific Properties (NYSE:HPP) last issued 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 business had revenue of $218.00 million during the quarter, compared to analyst estimates of $216.08 million. Hudson Pacific Properties had a negative return on equity of 7.41% and a negative net margin of 25.42%. Hudson Pacific Properties’s revenue was down 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 EPS. On average, equities research analysts expect that Hudson Pacific Properties, Inc. will post 0.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Andy Wattula sold 9,356 shares of Hudson Pacific Properties stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $5.28, for a total transaction of $49,399.68. Following the completion of the sale, the chief operating officer now owns 61,068 shares of the company’s stock, valued at $322,439.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Jonathan M. Glaser sold 9,287 shares of the business’s 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 completion of the sale, the director now directly owns 3,713 shares in the company, valued at $19,307.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Andy Wattula sold 9,356 shares of the business’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 owns 61,068 shares of the company’s stock, valued at $322,439.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.95% of the company’s stock.

Wall Street Analyst Weigh In

HPP has been the subject of several recent analyst reports. Wolfe Research lowered Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Bank of America dropped their price target on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a research note on Thursday, August 22nd. Piper Sandler downgraded Hudson Pacific Properties from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $7.00 to $6.00 in a research note on Thursday, August 8th. Wells Fargo & Company decreased their price objective on Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating on the stock in a report on Wednesday, September 11th. Finally, BMO Capital Markets lowered Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and decreased their price target for the company 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 assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $6.95.

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.