Bank of New York Mellon Corp Sells 476,437 Shares of Hudson Pacific Properties, Inc. (NYSE:HPP)

Bank of New York Mellon Corp lowered its stake in shares of Hudson Pacific Properties, Inc. (NYSE:HPP - Free Report) by 44.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 about 0.42% of Hudson Pacific Properties worth $1,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of HPP. Green Alpha Advisors LLC increased its stake in shares of Hudson Pacific Properties by 77.7% in the 4th quarter. Green Alpha Advisors LLC now owns 521,592 shares of the real estate investment trust's stock worth $1,580,000 after acquiring an additional 228,079 shares in the last quarter. Stifel Financial Corp bought a new position in shares of Hudson Pacific Properties during the third quarter valued at approximately $48,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Hudson Pacific Properties by 450.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,066,056 shares of the real estate investment trust's stock valued at $5,096,000 after purchasing an additional 872,538 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of Hudson Pacific Properties in the 4th quarter worth approximately $436,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Hudson Pacific Properties by 13.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,209,577 shares of the real estate investment trust's stock worth $24,902,000 after buying an additional 630,932 shares during the last quarter. 97.58% of the stock is owned by institutional investors.

Hudson Pacific Properties Stock Performance

NYSE HPP traded down $0.08 on Wednesday, hitting $2.85. 2,103,061 shares of the company traded hands, compared to its average volume of 2,718,215. The business's 50 day moving average price is $3.03 and its 200-day moving average price is $3.62. Hudson Pacific Properties, Inc. has a 52-week low of $2.39 and a 52-week high of $6.69. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $402.15 million, a price-to-earnings ratio of -1.11 and a beta of 1.31.

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

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Jefferies Financial Group began coverage on shares of Hudson Pacific Properties in a research report on Monday, March 17th. They set a "hold" rating and a $2.70 price objective on the stock. Morgan Stanley reduced their target price on Hudson Pacific Properties from $2.40 to $2.25 and set an "underweight" rating for the company in a report on Tuesday, March 18th. Piper Sandler dropped their price objective on Hudson Pacific Properties from $4.50 to $3.50 and set a "neutral" rating on the stock in a research report on Monday, February 24th. Scotiabank lowered their target price on shares of Hudson Pacific Properties from $4.00 to $3.00 and set a "sector perform" rating on the stock in a research note on Tuesday, February 18th. Finally, The Goldman Sachs Group reduced their price target on shares of 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus 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.