Prudential Financial Inc. Sells 1,885,188 Shares of Hudson Pacific Properties, Inc. (NYSE:HPP)

Prudential Financial Inc. cut its stake in shares of Hudson Pacific Properties, Inc. (NYSE:HPP - Free Report) by 62.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,147,455 shares of the real estate investment trust's stock after selling 1,885,188 shares during the period. Prudential Financial Inc. owned about 0.81% of Hudson Pacific Properties worth $3,477,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. KLP Kapitalforvaltning AS purchased a new stake in Hudson Pacific Properties during the fourth quarter valued at $81,000. Sei Investments Co. increased its position in shares of Hudson Pacific Properties by 134.8% during the 4th quarter. Sei Investments Co. now owns 29,979 shares of the real estate investment trust's stock valued at $91,000 after purchasing an additional 17,212 shares during the last quarter. Xponance Inc. purchased a new stake in shares of Hudson Pacific Properties during the 4th quarter valued at about $30,000. Brown University bought a new position in shares of Hudson Pacific Properties in the 4th quarter worth approximately $1,832,000. Finally, Cibc World Markets Corp purchased a new position in shares of Hudson Pacific Properties in the fourth quarter worth approximately $39,000. 97.58% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. BMO Capital Markets raised shares of Hudson Pacific Properties from a "market perform" rating to an "outperform" rating and upped their target price for the company from $4.00 to $5.00 in a report on Friday, March 28th. 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 note on Monday, February 24th. Morgan Stanley cut their price target 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. Mizuho cut their price objective on 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. Finally, Jefferies Financial Group started coverage on shares of Hudson Pacific Properties in a research note on Monday, March 17th. They set a "hold" rating and a $2.70 target price on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Hudson Pacific Properties has a consensus rating of "Hold" and a consensus price target of $3.43.

Hudson Pacific Properties Price Performance

Shares of NYSE:HPP traded down $0.08 on Friday, reaching $2.57. The company's stock had a trading volume of 3,361,613 shares, compared to its average volume of 2,825,958. The company has a market cap of $363.28 million, a P/E ratio of -1.00 and a beta of 1.30. 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 company has a 50-day simple moving average of $2.99 and a 200 day simple moving average of $3.51. Hudson Pacific Properties, Inc. has a 52-week low of $2.39 and a 52-week high of $6.69.

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 company had revenue of $209.67 million during the quarter, compared to the consensus estimate of $207.95 million. As a group, equities research analysts anticipate that Hudson Pacific Properties, Inc. will post 0.45 EPS for the current fiscal year.

Hudson Pacific Properties 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.