Long Pond Capital LP cut its position in Hudson Pacific Properties Inc (NYSE:HPP) by 16.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,234,514 shares of the real estate investment trust’s stock after selling 1,015,160 shares during the quarter. Hudson Pacific Properties accounts for about 5.2% of Long Pond Capital LP’s holdings, making the stock its 6th biggest holding. Long Pond Capital LP’s holdings in Hudson Pacific Properties were worth $174,152,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. raised its position in Hudson Pacific Properties by 9.3% in the first quarter. BlackRock Inc. now owns 12,393,998 shares of the real estate investment trust’s stock valued at $426,601,000 after purchasing an additional 1,055,300 shares during the last quarter. PGGM Investments raised its position in Hudson Pacific Properties by 1,520.9% in the second quarter. PGGM Investments now owns 10,485,038 shares of the real estate investment trust’s stock valued at $348,837,000 after purchasing an additional 9,838,178 shares during the last quarter. Principal Financial Group Inc. raised its position in Hudson Pacific Properties by 9.3% in the first quarter. Principal Financial Group Inc. now owns 4,566,831 shares of the real estate investment trust’s stock valued at $157,190,000 after purchasing an additional 388,392 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Hudson Pacific Properties by 3.1% in the second quarter. Charles Schwab Investment Management Inc. now owns 2,327,875 shares of the real estate investment trust’s stock valued at $77,449,000 after purchasing an additional 69,261 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Hudson Pacific Properties by 5.8% in the second quarter. Renaissance Technologies LLC now owns 2,019,400 shares of the real estate investment trust’s stock valued at $67,185,000 after purchasing an additional 111,300 shares during the last quarter.
HPP has been the subject of several research reports. Robert W. Baird set a $40.00 target price on Hudson Pacific Properties and gave the company a “buy” rating in a research report on Wednesday, August 21st. Zacks Investment Research downgraded Hudson Pacific Properties from a “buy” rating to a “hold” rating in a research report on Friday, July 5th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Hudson Pacific Properties currently has a consensus rating of “Buy” and an average price target of $38.50.
Shares of HPP stock opened at $34.55 on Friday. The stock has a market cap of $5.24 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 2.71 and a beta of 0.68. The stock has a 50-day moving average of $34.04 and a 200-day moving average of $34.17. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.89. Hudson Pacific Properties Inc has a 1-year low of $27.12 and a 1-year high of $36.19.
Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.42). The company had revenue of $196.66 million during the quarter, compared to analyst estimates of $199.85 million. Hudson Pacific Properties had a net margin of 0.80% and a return on equity of 0.16%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 EPS. Sell-side analysts forecast that Hudson Pacific Properties Inc will post 2 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $1.00 annualized dividend and a dividend yield of 2.89%. Hudson Pacific Properties’s payout ratio is 53.76%.
In other news, CEO Victor J. Coleman sold 38,749 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $33.63, for a total value of $1,303,128.87. Following the completion of the sale, the chief executive officer now owns 686,901 shares of the company’s stock, valued at $23,100,480.63. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jonathan M. Glaser purchased 1,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was bought at an average cost of $33.27 per share, with a total value of $33,270.00. Following the purchase, the director now owns 127,649 shares of the company’s stock, valued at approximately $4,246,882.23. The disclosure for this purchase can be found here. Corporate insiders own 1.95% of the company’s stock.
About Hudson Pacific Properties
Hudson Pacific Properties is a visionary real estate investment trust that owns and operates more than 17 million square feet of marquee office and studio properties. Focused on premier West Coast epicenters of innovation, media and technology, its anchor tenants include Fortune 500 and leading growth companies such as Netflix, Google, Square, Uber, NFL Enterprises and more.
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