DekaBank Deutsche Girozentrale Acquires New Stake in Hudson Pacific Properties Inc (HPP)

DekaBank Deutsche Girozentrale acquired a new stake in shares of Hudson Pacific Properties Inc (NYSE:HPP) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 97,254 shares of the real estate investment trust’s stock, valued at approximately $3,267,000. DekaBank Deutsche Girozentrale owned about 0.06% of Hudson Pacific Properties as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Hudson Pacific Properties by 1.5% in the 3rd quarter. BlackRock Inc. now owns 11,186,914 shares of the real estate investment trust’s stock worth $366,036,000 after acquiring an additional 160,698 shares during the last quarter. Cbre Clarion Securities LLC lifted its holdings in shares of Hudson Pacific Properties by 167.9% in the 2nd quarter. Cbre Clarion Securities LLC now owns 4,568,180 shares of the real estate investment trust’s stock worth $161,851,000 after acquiring an additional 2,862,705 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Hudson Pacific Properties by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,450,744 shares of the real estate investment trust’s stock worth $86,830,000 after acquiring an additional 23,317 shares during the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of Hudson Pacific Properties by 27.9% in the 2nd quarter. Glenmede Trust Co. NA now owns 2,103,719 shares of the real estate investment trust’s stock worth $74,535,000 after acquiring an additional 458,568 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Hudson Pacific Properties by 6.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,976,942 shares of the real estate investment trust’s stock worth $70,044,000 after acquiring an additional 127,405 shares during the last quarter.

HPP stock opened at $30.86 on Monday. The stock has a market capitalization of $4.84 billion, a P/E ratio of 15.51, a P/E/G ratio of 2.91 and a beta of 0.67. Hudson Pacific Properties Inc has a 12 month low of $28.25 and a 12 month high of $36.06. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.63.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.36). The company had revenue of $180.70 million during the quarter, compared to analysts’ expectations of $175.92 million. Hudson Pacific Properties had a return on equity of 2.93% and a net margin of 15.99%. The company’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.50 EPS. On average, equities research analysts expect that Hudson Pacific Properties Inc will post 1.85 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Hudson Pacific Properties from a “hold” rating to a “sell” rating in a report on Saturday, October 27th. Bank of America restated a “buy” rating and issued a $37.00 target price (down previously from $41.00) on shares of Hudson Pacific Properties in a report on Friday. Scotiabank assumed coverage on shares of Hudson Pacific Properties in a report on Tuesday, October 16th. They issued an “outperform” rating for the company. Robert W. Baird lowered shares of Hudson Pacific Properties from an “outperform” rating to a “neutral” rating and set a $37.00 target price for the company. in a report on Tuesday, August 21st. Finally, TheStreet downgraded shares of Hudson Pacific Properties from a “b” rating to a “c+” rating in a research note on Wednesday, August 8th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $37.67.

In related news, Director Jonathan M. Glaser purchased 5,000 shares of Hudson Pacific Properties stock in a transaction that occurred on Tuesday, November 27th. The shares were bought at an average price of $29.74 per share, with a total value of $148,700.00. Following the purchase, the director now directly owns 129,468 shares of the company’s stock, valued at approximately $3,850,378.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jonathan M. Glaser purchased 1,957 shares of Hudson Pacific Properties stock in a transaction that occurred on Wednesday, November 7th. The stock was bought at an average cost of $30.11 per share, for a total transaction of $58,925.27. Following the purchase, the director now directly owns 129,468 shares in the company, valued at $3,898,281.48. The disclosure for this purchase can be found here. Insiders purchased a total of 12,957 shares of company stock worth $405,445 in the last ninety days. 1.93% of the stock is currently owned by insiders.

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About Hudson Pacific Properties

Hudson Pacific Properties, Inc is areal estate company. It owns, operates, develops and acquires office, media, and entertainment properties. The company operates through two segments: Office Properties and Media & Entertainment Properties. The Office Properties segment manages office properties located in California and Pacific Northwest.

See Also: Intrinsic Value

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

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