Richard B. Fried Sells 1,165,918 Shares of Hudson Pacific Properties Inc. (HPP) Stock
Hudson Pacific Properties Inc. (NYSE:HPP) Director Richard B. Fried sold 1,165,918 shares of the stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $32.50, for a total value of $37,892,335.00. Following the completion of the transaction, the director now directly owns 20,559 shares of the company’s stock, valued at $668,167.50. The sale was disclosed in a filing with the SEC, which is available through this link.
Shares of Hudson Pacific Properties Inc. (NYSE:HPP) traded down 1.20% during trading on Wednesday, reaching $34.52. The company’s stock had a trading volume of 526,973 shares. The company’s 50-day moving average is $32.96 and its 200-day moving average is $31.62. Hudson Pacific Properties Inc. has a 12 month low of $22.77 and a 12 month high of $34.82. The company’s market capitalization is $3.97 billion.
Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings results on Thursday, November 3rd. The real estate investment trust reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The firm earned $164.60 million during the quarter, compared to analysts’ expectations of $17.50 million. Hudson Pacific Properties had a net margin of 1.51% and a return on equity of 0.25%. On average, analysts forecast that Hudson Pacific Properties Inc. will post $1.77 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in Hudson Pacific Properties by 1.8% in the first quarter. Geode Capital Management LLC now owns 459,007 shares of the real estate investment trust’s stock worth $13,274,000 after buying an additional 8,327 shares during the period. Legal & General Group Plc boosted its position in Hudson Pacific Properties by 0.9% in the first quarter. Legal & General Group Plc now owns 143,737 shares of the real estate investment trust’s stock worth $4,157,000 after buying an additional 1,310 shares during the period. A.R.T. Advisors LLC purchased a new position in Hudson Pacific Properties during the first quarter worth about $916,000. BNP Paribas Arbitrage SA boosted its position in Hudson Pacific Properties by 79,008.9% in the second quarter. BNP Paribas Arbitrage SA now owns 44,301 shares of the real estate investment trust’s stock worth $1,293,000 after buying an additional 44,245 shares during the period. Finally, Howard Capital Management boosted its position in Hudson Pacific Properties by 66.2% in the second quarter. Howard Capital Management now owns 268,927 shares of the real estate investment trust’s stock worth $7,847,000 after buying an additional 107,152 shares during the period.
A number of equities analysts recently issued reports on the company. Zacks Investment Research lowered Hudson Pacific Properties from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Mizuho raised Hudson Pacific Properties from a “neutral” rating to a “buy” rating in a report on Monday, November 7th. DA Davidson increased their price objective on Hudson Pacific Properties from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $38.00 price objective on shares of Hudson Pacific Properties in a report on Friday, August 26th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $36.00.
About Hudson Pacific Properties
Hudson Pacific Properties, Inc is a full-service, vertically integrated real estate investment trust (REIT). The Company is focused on owning, operating and acquiring office, and media and entertainment properties in select growth markets primarily in Northern and Southern California, and the Pacific Northwest.
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