Davis Selected Advisers Increases Stock Holdings in Hudson Pacific Properties, Inc. (NYSE:HPP)

Davis Selected Advisers boosted its position in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 88.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,280,963 shares of the real estate investment trust’s stock after purchasing an additional 1,067,940 shares during the period. Davis Selected Advisers’ holdings in Hudson Pacific Properties were worth $6,911,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of HPP. Charles Schwab Investment Management Inc. boosted its holdings in Hudson Pacific Properties by 8.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,668,360 shares of the real estate investment trust’s stock valued at $17,175,000 after purchasing an additional 458,783 shares during the period. Versor Investments LP bought a new stake in Hudson Pacific Properties during the fourth quarter valued at $97,000. Y Intercept Hong Kong Ltd grew its position in Hudson Pacific Properties by 197.5% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 368,175 shares of the real estate investment trust’s stock worth $1,116,000 after buying an additional 244,410 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in Hudson Pacific Properties in the 4th quarter worth about $436,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Hudson Pacific Properties in the 4th quarter valued at about $45,000. Institutional investors own 97.58% of the company’s stock.

Hudson Pacific Properties Stock Up 4.5 %

Shares of NYSE:HPP opened at $3.16 on Friday. The stock has a market capitalization of $445.97 million, a P/E ratio of -1.23 and a beta of 1.31. The stock’s 50-day moving average price is $3.01 and its 200-day moving average price is $3.85. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.47. Hudson Pacific Properties, Inc. has a 12-month low of $2.39 and a 12-month high of $7.20.

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 (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. 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 $209.67 million for the quarter, compared to analyst estimates of $207.95 million. On average, equities analysts anticipate that Hudson Pacific Properties, Inc. will post 0.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

HPP has been the subject of several recent analyst reports. Mizuho cut their price objective on Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Piper Sandler decreased their price target on shares of Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Monday, February 24th. Scotiabank dropped their price objective on shares of 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. Jefferies Financial Group reduced their target price on Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating on the stock in a research note on Thursday, January 2nd. Finally, The Goldman Sachs Group lowered 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. Two research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.31.

Insiders Place Their Bets

In other Hudson Pacific Properties news, CEO Victor J. Coleman bought 50,000 shares of Hudson Pacific Properties stock in a transaction dated Wednesday, December 18th. The shares were purchased at an average cost of $2.87 per share, with a total value of $143,500.00. Following the completion of the purchase, the chief executive officer now owns 487,451 shares of the company’s stock, valued at approximately $1,398,984.37. This represents a 11.43 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.95% 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.