Hudson Pacific Properties, Inc. (NYSE:HPP) Shares Sold by Pinnacle Wealth Planning Services Inc.

Pinnacle Wealth Planning Services Inc. cut its stake in shares of Hudson Pacific Properties, Inc. (NYSE:HPPFree Report) by 38.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 12,755 shares of the real estate investment trust’s stock after selling 8,077 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Hudson Pacific Properties were worth $119,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. FMR LLC grew its holdings in shares of Hudson Pacific Properties by 6,191.3% in the third quarter. FMR LLC now owns 5,393,766 shares of the real estate investment trust’s stock valued at $35,869,000 after purchasing an additional 5,308,032 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Hudson Pacific Properties by 2,367.6% in the third quarter. Deutsche Bank AG now owns 4,280,984 shares of the real estate investment trust’s stock valued at $28,469,000 after purchasing an additional 4,107,498 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Hudson Pacific Properties by 12.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,097,841 shares of the real estate investment trust’s stock valued at $38,151,000 after purchasing an additional 439,331 shares in the last quarter. American Assets Capital Advisers LLC acquired a new position in shares of Hudson Pacific Properties in the third quarter valued at approximately $13,704,000. Finally, Bank of New York Mellon Corp lifted its stake in Hudson Pacific Properties by 1.9% in the third quarter. Bank of New York Mellon Corp now owns 1,476,997 shares of the real estate investment trust’s stock worth $9,822,000 after acquiring an additional 26,993 shares during the last quarter. Institutional investors and hedge funds own 97.58% of the company’s stock.

Hudson Pacific Properties Trading Up 0.9 %

Shares of NYSE:HPP traded up $0.05 during midday trading on Wednesday, reaching $5.88. The company had a trading volume of 560,001 shares, compared to its average volume of 2,544,994. Hudson Pacific Properties, Inc. has a 1-year low of $4.05 and a 1-year high of $9.85. The company has a fifty day simple moving average of $6.09 and a two-hundred day simple moving average of $6.90. The firm has a market cap of $829.96 million, a price-to-earnings ratio of -3.77, a price-to-earnings-growth ratio of 0.51 and a beta of 1.31. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.85 and a current ratio of 1.85.

Hudson Pacific Properties (NYSE:HPPGet Free Report) last posted its quarterly earnings results on Monday, February 12th. The real estate investment trust reported $0.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.15. The company had revenue of $223.42 million during the quarter, compared to the consensus estimate of $223.93 million. Hudson Pacific Properties had a negative return on equity of 6.91% and a negative net margin of 23.48%. The business’s quarterly revenue was down 17.2% on a year-over-year basis. During the same period last year, the business earned $0.49 EPS. Research analysts predict that Hudson Pacific Properties, Inc. will post 0.95 earnings per share for the current year.

Hudson Pacific Properties Announces Dividend

The business also recently disclosed a — dividend, which was paid on Thursday, March 28th. Stockholders of record on Monday, March 18th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, March 15th. Hudson Pacific Properties’s dividend payout ratio is -12.50%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on HPP shares. Wedbush downgraded shares of Hudson Pacific Properties from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $11.00 to $7.50 in a research note on Tuesday, February 20th. The Goldman Sachs Group cut their target price on shares of Hudson Pacific Properties from $9.00 to $7.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Morgan Stanley cut their target price on shares of Hudson Pacific Properties from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Thursday, March 28th. Wolfe Research raised shares of Hudson Pacific Properties from a “peer perform” rating to an “outperform” rating and set a $8.40 price target on the stock in a research note on Monday, March 18th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $7.00 price objective (down from $9.00) on shares of Hudson Pacific Properties in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $8.49.

Check Out Our Latest Research Report on HPP

Insider Buying and Selling at Hudson Pacific Properties

In other news, Director Barry A. Sholem acquired 40,000 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were bought at an average price of $6.69 per share, with a total value of $267,600.00. Following the acquisition, the director now owns 70,176 shares of the company’s stock, valued at $469,477.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Hudson Pacific Properties news, CIO Drew Gordon sold 10,000 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $7.11, for a total value of $71,100.00. Following the completion of the transaction, the executive now directly owns 116,694 shares of the company’s stock, valued at $829,694.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Barry A. Sholem purchased 40,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was purchased at an average price of $6.69 per share, for a total transaction of $267,600.00. Following the completion of the acquisition, the director now owns 70,176 shares of the company’s stock, valued at $469,477.44. The disclosure for this purchase can be found here. Insiders own 3.92% of the company’s stock.

Hudson Pacific Properties Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Hudson Pacific Properties (NYSE:HPP)

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