Wolverine Asset Management LLC Buys 171,424 Shares of Hudson Pacific Properties, Inc. (NYSE:HPP)

Wolverine Asset Management LLC lifted its stake in shares of Hudson Pacific Properties, Inc. (NYSE:HPP - Free Report) by 42.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 576,373 shares of the real estate investment trust's stock after buying an additional 171,424 shares during the period. Wolverine Asset Management LLC owned approximately 0.41% of Hudson Pacific Properties worth $2,755,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Blue Trust Inc. lifted its stake in Hudson Pacific Properties by 549.1% during the third quarter. Blue Trust Inc. now owns 5,926 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 5,013 shares in the last quarter. Key Client Fiduciary Advisors LLC purchased a new stake in shares of Hudson Pacific Properties in the second quarter worth approximately $53,000. Regent Peak Wealth Advisors LLC purchased a new position in shares of Hudson Pacific Properties in the 3rd quarter valued at about $85,000. NorthRock Partners LLC purchased a new position in Hudson Pacific Properties in the first quarter valued at approximately $104,000. Finally, Shell Asset Management Co. acquired a new position in shares of Hudson Pacific Properties in the 1st quarter valued at about $107,000. 97.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HPP has been the subject of a number of analyst reports. Piper Sandler cut Hudson Pacific Properties from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $7.00 to $6.00 in a research note on Thursday, August 8th. The Goldman Sachs Group cut their price objective on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a "neutral" rating for the company in a research report on Wednesday, August 14th. Scotiabank decreased 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 report on Monday, August 26th. Wolfe Research downgraded Hudson Pacific Properties from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, August 14th. Finally, Bank of America dropped their target price on Hudson Pacific Properties from $4.50 to $4.00 and set an "underperform" rating for the company in a research report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $6.30.

Insider Buying and Selling

In related news, Director Jonathan M. Glaser sold 9,287 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $5.20, for a total transaction of $48,292.40. Following the sale, the director now directly owns 3,713 shares of the company's stock, valued at approximately $19,307.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Jonathan M. Glaser sold 9,287 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $5.20, for a total transaction of $48,292.40. Following the transaction, the director now directly owns 3,713 shares in the company, valued at $19,307.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Andy Wattula sold 9,356 shares of the business's 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 in the company, valued at approximately $322,439.04. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.95% of the stock is currently owned by insiders.

Hudson Pacific Properties Stock Performance

Shares of NYSE HPP traded down $0.40 during trading on Tuesday, reaching $4.04. The stock had a trading volume of 4,570,958 shares, compared to its average volume of 2,379,651. The firm's 50 day moving average price is $4.68 and its two-hundred day moving average price is $4.99. The stock has a market cap of $570.58 million, a PE ratio of -2.66 and a beta of 1.31. 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 one year low of $4.04 and a one year high of $9.85.

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.