JPMorgan Chase & Co. reduced its stake in Hudson Pacific Properties, Inc. (NYSE:HPP - Free Report) by 60.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 370,434 shares of the real estate investment trust's stock after selling 563,624 shares during the quarter. JPMorgan Chase & Co. owned about 0.26% of Hudson Pacific Properties worth $1,771,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC lifted its position in shares of Hudson Pacific Properties by 282.7% in the 2nd quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust's stock worth $8,594,000 after purchasing an additional 1,319,869 shares during the period. Scion Asset Management LLC acquired a new position in Hudson Pacific Properties in the second quarter valued at $5,505,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Hudson Pacific Properties by 450.9% during the 3rd 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 worth $5,096,000 after acquiring an additional 872,538 shares during the period. GSA Capital Partners LLP grew its holdings in Hudson Pacific Properties by 1,822.5% during the 3rd quarter. GSA Capital Partners LLP now owns 760,086 shares of the real estate investment trust's stock worth $3,633,000 after acquiring an additional 720,549 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted 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 valued at $24,902,000 after purchasing an additional 630,932 shares during the period. 97.58% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
HPP has been the subject of a number of research analyst reports. Piper Sandler lowered their target price on Hudson Pacific Properties from $5.00 to $4.50 and set a "neutral" rating for the company in a report on Friday, November 15th. Jefferies Financial Group dropped their price objective on shares of Hudson Pacific Properties from $3.70 to $3.00 and set a "hold" rating on the stock in a report on Thursday, January 2nd. Finally, Mizuho cut their price target on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $5.08.
Read Our Latest Report on HPP
Hudson Pacific Properties Stock Up 0.2 %
Shares of Hudson Pacific Properties stock traded up $0.01 on Thursday, reaching $3.15. The company's stock had a trading volume of 2,448,302 shares, compared to its average volume of 3,033,756. The company has a market capitalization of $444.17 million, a price-to-earnings ratio of -1.50 and a beta of 1.30. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. Hudson Pacific Properties, Inc. has a 52 week low of $2.39 and a 52 week high of $9.06. The firm's fifty day simple moving average is $3.18 and its two-hundred day simple moving average is $4.32.
Insider Buying and Selling at Hudson Pacific Properties
In related news, CEO Victor J. Coleman bought 50,000 shares of the firm's stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $3.53 per share, for a total transaction of $176,500.00. Following the purchase, the chief executive officer now owns 437,451 shares in the company, valued at approximately $1,544,202.03. This represents a 12.90 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.95% of the company's stock.
Hudson Pacific Properties Profile
(
Free Report)
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.
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