Y Intercept Hong Kong Ltd Raises Position in Hudson Pacific Properties, Inc. (NYSE:HPP)

Y Intercept Hong Kong Ltd increased its holdings in Hudson Pacific Properties, Inc. (NYSE:HPP - Free Report) by 197.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 368,175 shares of the real estate investment trust's stock after buying an additional 244,410 shares during the period. Y Intercept Hong Kong Ltd owned 0.26% of Hudson Pacific Properties worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HPP. Blue Trust Inc. increased its stake in Hudson Pacific Properties by 549.1% in the third quarter. Blue Trust Inc. now owns 5,926 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 5,013 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Hudson Pacific Properties by 6.9% in the third quarter. Louisiana State Employees Retirement System now owns 68,200 shares of the real estate investment trust's stock valued at $326,000 after acquiring an additional 4,400 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Hudson Pacific Properties by 3.9% during the third quarter. State of Alaska Department of Revenue now owns 145,331 shares of the real estate investment trust's stock worth $692,000 after buying an additional 5,398 shares during the last quarter. abrdn plc grew its stake in shares of Hudson Pacific Properties by 10.5% during the third quarter. abrdn plc now owns 28,406 shares of the real estate investment trust's stock worth $136,000 after buying an additional 2,710 shares during the last quarter. Finally, Chicago Partners Investment Group LLC bought a new stake in shares of Hudson Pacific Properties during the third quarter worth $223,000. 97.58% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analyst Weigh In

HPP has been the topic of several analyst reports. Jefferies Financial Group reduced 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 research note on Thursday, January 2nd. Scotiabank reduced their price objective on shares of Hudson Pacific Properties from $4.00 to $3.00 and set a "sector perform" rating on the stock in a research note on Tuesday, February 18th. The Goldman Sachs Group reduced their price objective on shares of Hudson Pacific Properties from $3.90 to $3.40 and set a "neutral" rating on the stock in a research note on Tuesday, February 25th. Mizuho reduced their price objective on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 7th. Finally, Piper Sandler dropped their target price on shares of Hudson Pacific Properties from $4.50 to $3.50 and set a "neutral" rating on the stock in a report on Monday, February 24th. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $4.31.

Hudson Pacific Properties Stock Performance

Shares of NYSE HPP remained flat at $3.29 during trading on Friday. 3,586,086 shares of the stock traded hands, compared to its average volume of 2,798,992. The firm has a fifty day moving average of $3.00 and a two-hundred day moving average of $3.89. Hudson Pacific Properties, Inc. has a 52-week low of $2.39 and a 52-week high of $7.20. The firm has a market cap of $465.05 million, a price-to-earnings ratio of -1.28 and a beta of 1.30. 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 (NYSE:HPP - Get Free Report) last posted its earnings results on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $209.67 million for the quarter, compared to analyst estimates of $207.95 million. On average, analysts predict that Hudson Pacific Properties, Inc. will post 0.45 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Victor J. Coleman bought 50,000 shares of Hudson Pacific Properties stock in a transaction dated Wednesday, December 18th. The stock was purchased at an average cost of $2.87 per share, with a total value of $143,500.00. Following the transaction, the chief executive officer now directly 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.95% of the stock is currently owned by insiders.

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.