Prudential Financial Inc. Lowers Stake in Hudson Pacific Properties, Inc. (NYSE:HPP)

Prudential Financial Inc. lessened its stake in Hudson Pacific Properties, Inc. (NYSE:HPP) by 62.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,147,455 shares of the real estate investment trust’s stock after selling 1,885,188 shares during the period. Prudential Financial Inc.’s holdings in Hudson Pacific Properties were worth $3,477,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its holdings in shares of Hudson Pacific Properties by 5.2% in the 3rd quarter. Thrivent Financial for Lutherans now owns 110,760 shares of the real estate investment trust’s stock valued at $529,000 after buying an additional 5,448 shares during the period. Bridgewater Associates LP grew its position in Hudson Pacific Properties by 56.2% in the 3rd quarter. Bridgewater Associates LP now owns 24,590 shares of the real estate investment trust’s stock valued at $118,000 after acquiring an additional 8,844 shares in the last quarter. Xponance Inc. purchased a new stake in Hudson Pacific Properties during the fourth quarter worth about $30,000. Stifel Financial Corp acquired a new stake in shares of Hudson Pacific Properties during the third quarter worth about $48,000. Finally, Opinicus Capital Inc. purchased a new position in shares of Hudson Pacific Properties in the fourth quarter valued at approximately $32,000. 97.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HPP. Mizuho reduced their target price on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Piper Sandler reduced their price objective on Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Monday, February 24th. Scotiabank lowered their target price on Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 18th. Morgan Stanley reduced their price target on Hudson Pacific Properties from $2.40 to $2.25 and set an “underweight” rating on the stock in a research report on Tuesday, March 18th. Finally, BMO Capital Markets raised Hudson Pacific Properties from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $4.00 to $5.00 in a research report on Friday, March 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Hudson Pacific Properties currently has an average rating of “Hold” and an average price target of $3.43.

Hudson Pacific Properties Price Performance

HPP stock opened at $2.93 on Wednesday. The business has a 50 day moving average price of $3.02 and a 200 day moving average price of $3.56. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. The stock has a market cap of $413.46 million, a price-to-earnings ratio of -1.14 and a beta of 1.31. Hudson Pacific Properties, Inc. has a fifty-two week low of $2.39 and a fifty-two week high of $6.69.

Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings data 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 business had revenue of $209.67 million during 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%. Equities research analysts anticipate 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.