Hudson Pacific Properties, Inc. (NYSE:HPP) Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH grew its position in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 6.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 846,324 shares of the real estate investment trust’s stock after purchasing an additional 51,802 shares during the period. Allianz Asset Management GmbH’s holdings in Hudson Pacific Properties were worth $2,497,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Millennium Management LLC lifted its stake in Hudson Pacific Properties by 303.5% during the fourth quarter. Millennium Management LLC now owns 7,384,275 shares of the real estate investment trust’s stock worth $22,374,000 after purchasing an additional 5,554,444 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Hudson Pacific Properties by 113.8% in the fourth quarter. Bank of America Corp DE now owns 1,129,267 shares of the real estate investment trust’s stock valued at $3,422,000 after acquiring an additional 601,074 shares in the last quarter. Helix Partners Management LP acquired a new stake in shares of Hudson Pacific Properties in the fourth quarter valued at $579,000. Renaissance Technologies LLC raised its stake in shares of Hudson Pacific Properties by 9.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,390,009 shares of the real estate investment trust’s stock valued at $4,212,000 after acquiring an additional 117,600 shares in the last quarter. Finally, DigitalBridge Group Inc. acquired a new stake in shares of Hudson Pacific Properties in the fourth quarter valued at $2,199,000. 97.58% of the stock is currently owned by institutional investors and hedge funds.

Hudson Pacific Properties Stock Up 1.4%

Hudson Pacific Properties stock opened at $2.46 on Wednesday. Hudson Pacific Properties, Inc. has a 1-year low of $1.78 and a 1-year high of $6.28. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market cap of $930.81 million, a PE ratio of -0.90 and a beta of 1.56. The stock’s fifty day moving average is $2.48 and its two-hundred day moving average is $2.64.

Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings data 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 14.12% and a negative net margin of 47.56%. The company had revenue of $198.46 million for the quarter, compared to analyst estimates of $199.95 million. On average, sell-side analysts expect that Hudson Pacific Properties, Inc. will post 0.45 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Piper Sandler set a $2.00 price objective on Hudson Pacific Properties and gave the company a “neutral” rating in a research note on Friday, May 23rd. Wells Fargo & Company reduced their price objective 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. BMO Capital Markets reduced their price objective on Hudson Pacific Properties from $4.00 to $3.50 and set an “outperform” rating on the stock in a research note on Friday, June 13th. Wedbush reiterated a “neutral” rating on shares of Hudson Pacific Properties in a research note on Monday, May 5th. Finally, Odeon Capital Group began coverage on Hudson Pacific Properties in a research note on Monday, June 16th. They issued a “buy” rating and a $5.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Hudson Pacific Properties currently has a consensus rating of “Hold” and a consensus target price of $3.22.

Insider Activity

In other news, Director Barry A. Sholem acquired 224,215 shares of Hudson Pacific Properties stock in a transaction that occurred on Thursday, June 12th. The stock was purchased at an average price of $2.23 per share, for a total transaction of $499,999.45. Following the completion of the transaction, the director directly owned 400,743 shares in the company, valued at approximately $893,656.89. This trade represents a 127.01% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ted R. Antenucci acquired 89,686 shares of Hudson Pacific Properties stock in a transaction that occurred on Thursday, June 12th. The stock was purchased at an average price of $2.23 per share, with a total value of $199,999.78. Following the transaction, the director owned 254,934 shares of the company’s stock, valued at $568,502.82. This trade represents a 54.27% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 1,139,007 shares of company stock valued at $2,539,986. Insiders own 3.92% of the company’s stock.

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.