Davis Selected Advisers Has $6.91 Million Position in Hudson Pacific Properties, Inc. (NYSE:HPP)

Davis Selected Advisers raised its stake in Hudson Pacific Properties, Inc. (NYSE:HPP - Free Report) by 88.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,280,963 shares of the real estate investment trust's stock after purchasing an additional 1,067,940 shares during the period. Davis Selected Advisers owned about 1.62% of Hudson Pacific Properties worth $6,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in HPP. Charles Schwab Investment Management Inc. raised its position in Hudson Pacific Properties by 8.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,668,360 shares of the real estate investment trust's stock worth $17,175,000 after acquiring an additional 458,783 shares in the last quarter. Versor Investments LP acquired a new stake in Hudson Pacific Properties during the fourth quarter worth about $97,000. Y Intercept Hong Kong Ltd raised its stake in shares of Hudson Pacific Properties by 197.5% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 368,175 shares of the real estate investment trust's stock valued at $1,116,000 after acquiring an additional 244,410 shares during the period. Union Bancaire Privee UBP SA purchased a new position in Hudson Pacific Properties in the 4th quarter worth approximately $436,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Hudson Pacific Properties during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 97.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HPP. Wells Fargo & Company raised shares of Hudson Pacific Properties from an "equal weight" rating to an "overweight" rating and set a $4.00 price objective on the stock in a research note on Monday. 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 note on Tuesday, January 7th. The Goldman Sachs Group dropped their target price on shares of Hudson Pacific Properties from $3.90 to $3.40 and set a "neutral" rating on the stock in a research report on Tuesday, February 25th. Piper Sandler reduced their price objective on Hudson Pacific Properties from $4.50 to $3.50 and set a "neutral" rating for the company in a research report on Monday, February 24th. Finally, Scotiabank dropped their price target on shares of 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. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Hudson Pacific Properties currently has an average rating of "Hold" and a consensus price target of $4.26.

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Hudson Pacific Properties Stock Performance

NYSE:HPP traded up $0.02 during mid-day trading on Wednesday, reaching $2.73. 2,341,248 shares of the company's stock were exchanged, compared to its average volume of 2,691,786. Hudson Pacific Properties, Inc. has a one year low of $2.39 and a one year high of $6.82. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.26 and a current ratio of 1.26. The business's fifty day simple moving average is $3.00 and its two-hundred day simple moving average is $3.78. The firm has a market capitalization of $385.19 million, a PE ratio of -1.06 and a beta of 1.31.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping 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 business had revenue of $209.67 million for the quarter, compared to the consensus estimate of $207.95 million. Analysts anticipate that Hudson Pacific Properties, Inc. will post 0.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Victor J. Coleman purchased 50,000 shares of Hudson Pacific Properties stock in a transaction that occurred on Wednesday, December 18th. The shares were acquired at an average price of $2.87 per share, for a total transaction of $143,500.00. Following the transaction, the chief executive officer now owns 487,451 shares of the company's stock, valued at approximately $1,398,984.37. The trade was a 11.43 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 2.95% of the company's stock.

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.