State of Alaska Department of Revenue Decreases Stake in Hudson Pacific Properties, Inc. (NYSE:HPP)

State of Alaska Department of Revenue lessened its stake in Hudson Pacific Properties, Inc. (NYSE:HPP) by 54.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 65,606 shares of the real estate investment trust’s stock after selling 79,725 shares during the quarter. State of Alaska Department of Revenue’s holdings in Hudson Pacific Properties were worth $198,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HPP. Charles Schwab Investment Management Inc. raised its position in shares of Hudson Pacific Properties by 13.8% during 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 acquiring an additional 630,932 shares in the last quarter. Geode Capital Management LLC increased its position in Hudson Pacific Properties by 4.7% in the third quarter. Geode Capital Management LLC now owns 3,426,417 shares of the real estate investment trust’s stock worth $16,381,000 after buying an additional 154,101 shares during the period. Presima Securities ULC grew its stake in shares of Hudson Pacific Properties by 8.0% in the fourth quarter. Presima Securities ULC now owns 2,504,983 shares of the real estate investment trust’s stock worth $7,590,000 after purchasing an additional 185,699 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Hudson Pacific Properties by 450.9% in the third 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 purchasing an additional 872,538 shares in the last quarter. Finally, GSA Capital Partners LLP grew its stake in shares of Hudson Pacific Properties by 1,822.5% in the third quarter. GSA Capital Partners LLP now owns 760,086 shares of the real estate investment trust’s stock worth $3,633,000 after purchasing an additional 720,549 shares in the last quarter. Hedge funds and other institutional investors own 97.58% of the company’s stock.

Hudson Pacific Properties Price Performance

Hudson Pacific Properties stock opened at $2.78 on Friday. The business has a 50 day simple moving average of $3.01 and a 200 day simple moving average of $4.04. 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 one year low of $2.39 and a one year high of $7.40. The company has a market capitalization of $391.91 million, a PE ratio of -1.33 and a beta of 1.30.

Insider Activity

In related news, CEO Victor J. Coleman acquired 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was acquired at an average cost of $2.87 per share, with a total value of $143,500.00. Following the completion of the purchase, the chief executive officer now directly owns 487,451 shares in the company, valued at approximately $1,398,984.37. This trade represents a 11.43 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Jefferies Financial Group decreased their target price on Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating for the company in a research note on Thursday, January 2nd. Piper Sandler reduced 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. Finally, Mizuho reduced 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. Two investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $5.08.

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.