Hudson Pacific Properties, Inc. (NYSE:HPP) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lessened its holdings in Hudson Pacific Properties, Inc. (NYSE:HPP) by 31.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 198,614 shares of the real estate investment trust’s stock after selling 90,184 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.14% of Hudson Pacific Properties worth $600,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Stifel Financial Corp acquired a new position in Hudson Pacific Properties during the third quarter valued at $48,000. Barclays PLC raised its stake in shares of Hudson Pacific Properties by 120.9% during the 3rd quarter. Barclays PLC now owns 244,222 shares of the real estate investment trust’s stock valued at $1,168,000 after buying an additional 133,673 shares during the last quarter. Green Alpha Advisors LLC lifted its holdings in shares of Hudson Pacific Properties by 77.7% in the 4th quarter. Green Alpha Advisors LLC now owns 521,592 shares of the real estate investment trust’s stock valued at $1,580,000 after buying an additional 228,079 shares during the period. Mechanics Bank Trust Department purchased a new stake in shares of Hudson Pacific Properties in the fourth quarter worth about $60,000. Finally, Mutual Advisors LLC acquired a new stake in Hudson Pacific Properties during the fourth quarter worth about $44,000. 97.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on HPP shares. Piper Sandler dropped their price objective on shares of Hudson Pacific Properties from $3.50 to $2.50 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley reiterated an “underweight” rating and issued a $1.75 price objective on shares of Hudson Pacific Properties in a research report on Tuesday, April 15th. Scotiabank dropped their target price on Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 18th. The Goldman Sachs Group reduced their price target on Hudson Pacific Properties from $3.40 to $2.30 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company raised 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 research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $3.14.

Hudson Pacific Properties Trading Down 7.8 %

Shares of HPP stock opened at $2.07 on Wednesday. Hudson Pacific Properties, Inc. has a fifty-two week low of $2.00 and a fifty-two week high of $6.29. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.26 and a current ratio of 1.26. The stock’s fifty day moving average is $2.69 and its two-hundred day moving average is $3.20. The firm has a market capitalization of $291.89 million, a P/E ratio of -0.80 and a beta of 1.30.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. The firm had revenue of $209.67 million for the quarter, compared to the consensus estimate of $207.95 million. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. Research analysts expect that Hudson Pacific Properties, Inc. will post 0.45 earnings per share for the current fiscal year.

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.