Squarepoint Ops LLC Cuts Position in Hudson Pacific Properties, Inc. (NYSE:HPP)

Squarepoint Ops LLC lowered its stake in Hudson Pacific Properties, Inc. (NYSE:HPP) by 86.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 18,216 shares of the real estate investment trust’s stock after selling 120,322 shares during the quarter. Squarepoint Ops LLC’s holdings in Hudson Pacific Properties were worth $55,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Tower Research Capital LLC TRC boosted its position in Hudson Pacific Properties by 71.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 18,674 shares of the real estate investment trust’s stock valued at $57,000 after purchasing an additional 7,807 shares during the period. Envestnet Asset Management Inc. boosted its position in Hudson Pacific Properties by 15.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 65,672 shares of the real estate investment trust’s stock valued at $199,000 after purchasing an additional 8,775 shares during the period. GeoWealth Management LLC acquired a new position in Hudson Pacific Properties during the 4th quarter valued at approximately $27,000. ProShare Advisors LLC boosted its position in Hudson Pacific Properties by 34.6% during the 4th quarter. ProShare Advisors LLC now owns 38,521 shares of the real estate investment trust’s stock valued at $117,000 after purchasing an additional 9,905 shares during the period. Finally, Xponance Inc. acquired a new position in Hudson Pacific Properties during the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 97.58% of the company’s stock.

Hudson Pacific Properties Stock Up 6.8%

Shares of HPP opened at $2.45 on Wednesday. The firm has a market capitalization of $345.70 million, a price-to-earnings ratio of -0.95 and a beta of 1.43. 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 business’s fifty day moving average price is $2.17 and its two-hundred day moving average price is $2.76. Hudson Pacific Properties, Inc. has a 52 week low of $1.78 and a 52 week high of $6.29.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings results on Wednesday, May 7th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. Hudson Pacific Properties had a negative return on equity of 12.64% and a negative net margin of 44.01%. The business had revenue of $198.46 million for the quarter, compared to analyst estimates of $199.95 million. On average, analysts predict that Hudson Pacific Properties, Inc. will post 0.45 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have weighed in on the company. BTIG Research set a $8.00 target price on Hudson Pacific Properties and gave the company a “buy” rating in a research note on Tuesday, May 6th. Piper Sandler set a $2.00 target price on Hudson Pacific Properties and gave the company a “neutral” rating in a research note on Friday, May 23rd. BMO Capital Markets raised Hudson Pacific Properties from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $4.00 to $5.00 in a research note on Friday, March 28th. Wells Fargo & Company cut their target price on Hudson Pacific Properties from $4.00 to $3.40 and set an “overweight” rating on the stock in a research note on Monday, May 19th. Finally, Scotiabank cut their price objective on Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating for the company in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hudson Pacific Properties has a consensus rating of “Hold” and a consensus price target of $3.52.

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.