Pictet Asset Management Holding SA Sells 23,232 Shares of Hudson Pacific Properties, Inc. (NYSE:HPP)

Pictet Asset Management Holding SA decreased its holdings in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 60.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,131 shares of the real estate investment trust’s stock after selling 23,232 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Hudson Pacific Properties were worth $46,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Xponance Inc. acquired a new stake in Hudson Pacific Properties during the 4th quarter worth $30,000. Stifel Financial Corp acquired a new stake in shares of Hudson Pacific Properties during the third quarter worth $48,000. Opinicus Capital Inc. bought a new stake in Hudson Pacific Properties in the fourth quarter valued at about $32,000. Cibc World Markets Corp acquired a new position in Hudson Pacific Properties in the fourth quarter valued at about $39,000. Finally, Sanctuary Advisors LLC bought a new position in Hudson Pacific Properties during the fourth quarter worth about $45,000. 97.58% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on HPP shares. BMO Capital Markets raised Hudson Pacific Properties from a “market perform” rating to an “outperform” rating and upped their price target for the company from $4.00 to $5.00 in a research note on Friday, March 28th. Wells Fargo & Company raised shares of 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. Piper Sandler decreased their target price on 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. The Goldman Sachs Group dropped their price target on Hudson Pacific Properties from $3.90 to $3.40 and set a “neutral” rating on the stock in a research report on Tuesday, February 25th. Finally, Mizuho decreased their price objective 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. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hudson Pacific Properties presently has a consensus rating of “Hold” and an average target price of $3.43.

Hudson Pacific Properties Price Performance

NYSE HPP opened at $2.17 on Friday. The firm’s 50 day moving average is $2.87 and its 200-day moving average is $3.39. 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 market capitalization of $306.17 million, a PE ratio of -0.84 and a beta of 1.30. Hudson Pacific Properties, Inc. has a 12-month low of $2.00 and a 12-month high of $6.33.

Hudson Pacific Properties (NYSE:HPP) last issued 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. The firm had revenue of $209.67 million for the quarter, compared to analyst estimates of $207.95 million. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. Equities research analysts anticipate that Hudson Pacific Properties, Inc. will post 0.45 earnings per share for the current fiscal 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.