Credit Suisse AG cut its holdings in shares of Hudson Pacific Properties Inc (NYSE:HPP) by 22.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 346,263 shares of the real estate investment trust’s stock after selling 97,519 shares during the period. Credit Suisse AG owned 0.22% of Hudson Pacific Properties worth $11,330,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the business. Canada Pension Plan Investment Board lifted its position in Hudson Pacific Properties by 54.4% during the 3rd quarter. Canada Pension Plan Investment Board now owns 122,100 shares of the real estate investment trust’s stock valued at $3,995,000 after purchasing an additional 43,000 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in Hudson Pacific Properties during the 3rd quarter valued at about $3,267,000. Ontario Teachers Pension Plan Board lifted its position in Hudson Pacific Properties by 45.1% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 536,985 shares of the real estate investment trust’s stock valued at $17,570,000 after purchasing an additional 166,985 shares during the period. BlackRock Inc. lifted its position in Hudson Pacific Properties by 1.5% during the 3rd quarter. BlackRock Inc. now owns 11,186,914 shares of the real estate investment trust’s stock valued at $366,036,000 after purchasing an additional 160,698 shares during the period. Finally, CI Investments Inc. lifted its position in Hudson Pacific Properties by 0.4% during the 3rd quarter. CI Investments Inc. now owns 1,525,800 shares of the real estate investment trust’s stock valued at $49,924,000 after purchasing an additional 5,600 shares during the period.
In other Hudson Pacific Properties news, Director Jonathan M. Glaser bought 5,000 shares of the stock in a transaction that occurred on Tuesday, November 27th. The stock was acquired at an average cost of $29.74 per share, with a total value of $148,700.00. Following the purchase, the director now owns 129,468 shares in the company, valued at $3,850,378.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher James Barton sold 20,166 shares of the stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $33.02, for a total value of $665,881.32. The disclosure for this sale can be found here. Insiders purchased a total of 8,957 shares of company stock worth $269,245 over the last quarter. 1.93% of the stock is currently owned by corporate insiders.
Shares of NYSE:HPP opened at $31.48 on Friday. The company has a market capitalization of $4.84 billion, a P/E ratio of 15.82, a PEG ratio of 3.05 and a beta of 0.67. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.07 and a current ratio of 1.07. Hudson Pacific Properties Inc has a fifty-two week low of $28.25 and a fifty-two week high of $36.06.
Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.36). The firm had revenue of $180.70 million during the quarter, compared to analyst estimates of $175.92 million. Hudson Pacific Properties had a net margin of 15.99% and a return on equity of 2.93%. The business’s revenue was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 earnings per share. On average, analysts forecast that Hudson Pacific Properties Inc will post 1.86 EPS for the current fiscal year.
A number of research analysts have issued reports on HPP shares. Bank of America restated a “buy” rating and set a $37.00 target price (down from $41.00) on shares of Hudson Pacific Properties in a research report on Friday, November 30th. Zacks Investment Research upgraded shares of Hudson Pacific Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, November 28th. Robert W. Baird downgraded shares of Hudson Pacific Properties from an “outperform” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research report on Tuesday, August 21st. Finally, Scotiabank assumed coverage on shares of Hudson Pacific Properties in a research report on Tuesday, October 16th. They issued an “outperform” rating on the stock. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Hudson Pacific Properties has a consensus rating of “Buy” and a consensus target price of $37.67.
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Hudson Pacific Properties Company Profile
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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