Renaissance Technologies LLC Acquires 117,600 Shares of Hudson Pacific Properties, Inc. (NYSE:HPP)

Renaissance Technologies LLC lifted its stake in shares of Hudson Pacific Properties, Inc. (NYSE:HPP - Free Report) by 9.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,390,009 shares of the real estate investment trust's stock after purchasing an additional 117,600 shares during the quarter. Renaissance Technologies LLC owned about 0.98% of Hudson Pacific Properties worth $4,212,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Stifel Financial Corp acquired a new stake in shares of Hudson Pacific Properties in the third quarter valued at $48,000. Barclays PLC lifted its holdings in Hudson Pacific Properties by 120.9% in the 3rd quarter. Barclays PLC now owns 244,222 shares of the real estate investment trust's stock valued at $1,168,000 after acquiring an additional 133,673 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Hudson Pacific Properties by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 3,426,417 shares of the real estate investment trust's stock valued at $16,381,000 after purchasing an additional 154,101 shares in the last quarter. Green Alpha Advisors LLC grew 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 purchasing an additional 228,079 shares during the last quarter. Finally, Mechanics Bank Trust Department bought a new stake in shares of Hudson Pacific Properties in the 4th quarter worth approximately $60,000. 97.58% of the stock is currently owned by institutional investors and hedge funds.

Hudson Pacific Properties Stock Performance

HPP stock remained flat at $2.24 during mid-day trading on Thursday. 2,147,758 shares of the company's stock traded hands, compared to its average volume of 2,873,493. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26. Hudson Pacific Properties, Inc. has a 52-week low of $2.00 and a 52-week high of $6.29. The stock has a market capitalization of $316.63 million, a price-to-earnings ratio of -0.87 and a beta of 1.30. The stock's 50 day moving average is $2.75 and its two-hundred day moving average is $3.27.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on HPP shares. Wells Fargo & Company upgraded shares of Hudson Pacific Properties from an "equal weight" rating to an "overweight" rating and set a $4.00 target price for the company in a report on Monday, March 10th. Scotiabank reduced their target price on shares of Hudson Pacific Properties from $4.00 to $3.00 and set a "sector perform" rating for the company in a research note on Tuesday, February 18th. Mizuho decreased their target price on Hudson Pacific Properties from $5.00 to $3.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. BMO Capital Markets raised shares of Hudson Pacific Properties from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $4.00 to $5.00 in a research report on Friday, March 28th. Finally, Jefferies Financial Group began coverage on shares of Hudson Pacific Properties in a report on Monday, March 17th. They set a "hold" rating and a $2.70 price target for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $3.14.

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.