Hudson Pacific Properties, Inc. (NYSE:HPP) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its holdings in Hudson Pacific Properties, Inc. (NYSE:HPP) by 30.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 62,865 shares of the real estate investment trust’s stock after selling 27,402 shares during the period. Intech Investment Management LLC’s holdings in Hudson Pacific Properties were worth $190,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in shares of Hudson Pacific Properties by 8.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,668,360 shares of the real estate investment trust’s stock valued at $17,175,000 after purchasing an additional 458,783 shares during the last quarter. Geode Capital Management LLC grew its holdings in 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 buying an additional 154,101 shares during the last quarter. Presima Securities ULC increased its position in Hudson Pacific Properties by 8.0% during 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 buying an additional 185,699 shares in the last quarter. Davis Selected Advisers raised its holdings in shares of Hudson Pacific Properties by 88.0% in the fourth quarter. Davis Selected Advisers now owns 2,280,963 shares of the real estate investment trust’s stock worth $6,911,000 after acquiring an additional 1,067,940 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 valued at $5,096,000 after acquiring an additional 872,538 shares in the last quarter. 97.58% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HPP has been the subject of several analyst reports. Jefferies Financial Group started coverage on shares of Hudson Pacific Properties in a research note on Monday, March 17th. They issued a “hold” rating and a $2.70 target price for the company. The Goldman Sachs Group cut their price objective on shares of Hudson Pacific Properties from $3.90 to $3.40 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. 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. Piper Sandler lowered their target price on shares of 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. Finally, Wells Fargo & Company upgraded Hudson Pacific Properties from an “equal weight” rating to an “overweight” rating and set a $4.00 price objective on the stock in a report on Monday, March 10th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $3.54.

Hudson Pacific Properties Stock Performance

Shares of NYSE:HPP opened at $3.01 on Friday. The business has a 50-day moving average of $3.03 and a two-hundred day moving average of $3.61. The firm has a market capitalization of $424.91 million, a PE ratio of -1.17 and a beta of 1.31. 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 12 month low of $2.39 and a 12 month high of $6.69.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $0.11 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 for the quarter, compared to analyst estimates of $207.95 million. As a group, research analysts forecast that Hudson Pacific Properties, Inc. will post 0.45 earnings per share for the current year.

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.