Cibc World Markets Corp Invests $39,000 in Hudson Pacific Properties, Inc. (NYSE:HPP)

Cibc World Markets Corp purchased a new stake in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) during the 4th quarter, Holdings Channel.com reports. The fund purchased 12,800 shares of the real estate investment trust’s stock, valued at approximately $39,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Thrivent Financial for Lutherans boosted its position in Hudson Pacific Properties by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 110,760 shares of the real estate investment trust’s stock valued at $529,000 after buying an additional 5,448 shares during the last quarter. Daiwa Securities Group Inc. raised its position in shares of Hudson Pacific Properties by 16.8% during the third quarter. Daiwa Securities Group Inc. now owns 46,527 shares of the real estate investment trust’s stock worth $222,000 after acquiring an additional 6,704 shares during the last quarter. Bridgewater Associates LP lifted its stake in shares of Hudson Pacific Properties by 56.2% during the third quarter. Bridgewater Associates LP now owns 24,590 shares of the real estate investment trust’s stock valued at $118,000 after acquiring an additional 8,844 shares during the period. Stifel Financial Corp bought a new position in Hudson Pacific Properties in the third quarter valued at about $48,000. Finally, Opinicus Capital Inc. acquired a new stake in Hudson Pacific Properties in the fourth quarter worth about $32,000. Institutional investors and hedge funds own 97.58% of the company’s stock.

Hudson Pacific Properties Price Performance

HPP opened at $2.98 on Friday. The stock has a market cap of $420.53 million, a P/E ratio of -1.16 and a beta of 1.31. Hudson Pacific Properties, Inc. has a 12 month low of $2.39 and a 12 month high of $6.69. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. The company has a fifty day simple moving average of $3.02 and a 200 day simple moving average of $3.60.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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. On average, research analysts expect that Hudson Pacific Properties, Inc. will post 0.45 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on HPP shares. Piper Sandler cut 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 research report on Monday, February 24th. 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. Morgan Stanley dropped their target price on shares of Hudson Pacific Properties from $2.40 to $2.25 and set an “underweight” rating for the company in a research report on Tuesday, March 18th. Wells Fargo & Company upgraded Hudson Pacific Properties from an “equal weight” rating to an “overweight” rating and set a $4.00 price target on the stock in a research report on Monday, March 10th. Finally, Mizuho dropped their price objective on Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $3.43.

Hudson Pacific Properties Company 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.