Anthracite Investment Company Inc. Invests $1.32 Million in Hudson Pacific Properties, Inc. (NYSE:HPP)

Anthracite Investment Company Inc. purchased a new stake in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 276,191 shares of the real estate investment trust’s stock, valued at approximately $1,320,000.

Other institutional investors also recently added to or reduced their stakes in the company. Millennium Management LLC boosted its stake in Hudson Pacific Properties by 282.7% in the second quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock valued at $8,594,000 after acquiring an additional 1,319,869 shares during the last quarter. Scion Asset Management LLC purchased a new position in Hudson Pacific Properties in the second quarter valued at approximately $5,505,000. GSA Capital Partners LLP lifted its stake in Hudson Pacific Properties by 1,822.5% in the third quarter. GSA Capital Partners LLP now owns 760,086 shares of the real estate investment trust’s stock valued at $3,633,000 after purchasing an additional 720,549 shares during the last quarter. Davis Selected Advisers grew its holdings in Hudson Pacific Properties by 78.0% during the second quarter. Davis Selected Advisers now owns 1,224,493 shares of the real estate investment trust’s stock valued at $5,890,000 after purchasing an additional 536,540 shares during the period. Finally, Kennedy Capital Management LLC increased its position in Hudson Pacific Properties by 50.6% in the first quarter. Kennedy Capital Management LLC now owns 1,240,292 shares of the real estate investment trust’s stock worth $8,000,000 after buying an additional 416,591 shares during the last quarter. Institutional investors own 97.58% of the company’s stock.

Insider Activity

In related news, Director Jonathan M. Glaser sold 9,287 shares of Hudson Pacific Properties stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $5.20, for a total transaction of $48,292.40. Following the completion of the transaction, the director now directly owns 3,713 shares of the company’s stock, valued at $19,307.60. This trade represents a 71.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Andy Wattula sold 9,356 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $5.28, for a total transaction of $49,399.68. Following the sale, the chief operating officer now directly owns 61,068 shares in the company, valued at $322,439.04. The trade was a 13.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.95% of the company’s stock.

Hudson Pacific Properties Stock Down 1.2 %

Shares of NYSE:HPP opened at $3.33 on Wednesday. The firm has a market capitalization of $470.30 million, a P/E ratio of -1.59 and a beta of 1.31. 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 has a 50 day moving average price of $4.54 and a 200-day moving average price of $4.91. Hudson Pacific Properties, Inc. has a 52-week low of $3.25 and a 52-week high of $9.85.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. BMO Capital Markets cut Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $8.00 to $6.00 in a research report on Thursday, August 8th. Scotiabank dropped their price objective on shares of Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a report on Monday, August 26th. Bank of America cut their target price on shares of Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a research report on Thursday, August 22nd. The Goldman Sachs Group lowered their price target on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. Finally, Wells Fargo & Company cut their price objective on shares of Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $6.17.

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.