Allianz Asset Management GmbH grew its holdings in Hudson Pacific Properties Inc (NYSE:HPP) by 25.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 585,262 shares of the real estate investment trust’s stock after buying an additional 120,000 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.37% of Hudson Pacific Properties worth $19,150,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HPP. Qube Research & Technologies Ltd bought a new position in shares of Hudson Pacific Properties in the 2nd quarter worth approximately $113,000. CIBC Asset Management Inc bought a new position in shares of Hudson Pacific Properties in the 2nd quarter worth approximately $206,000. First Republic Investment Management Inc. bought a new position in shares of Hudson Pacific Properties in the 2nd quarter worth approximately $212,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Hudson Pacific Properties in the 2nd quarter worth approximately $230,000. Finally, Federated Investors Inc. PA bought a new position in shares of Hudson Pacific Properties in the 2nd quarter worth approximately $233,000.
In related news, Director Jonathan M. Glaser acquired 5,000 shares of Hudson Pacific Properties stock in a transaction that occurred on Tuesday, November 27th. The stock was bought at an average price of $29.74 per share, with a total value of $148,700.00. Following the transaction, the director now directly owns 129,468 shares in the company, valued at $3,850,378.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christopher James Barton sold 20,166 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were 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. In the last ninety days, insiders have purchased 8,957 shares of company stock valued at $269,245. 1.93% of the stock is owned by corporate insiders.
Shares of NYSE:HPP opened at $31.48 on Friday. Hudson Pacific Properties Inc has a 52-week low of $28.25 and a 52-week high of $36.06. The company has a market capitalization of $4.84 billion, a PE 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 current ratio of 1.07 and a quick ratio of 1.07.
Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.36). Hudson Pacific Properties had a net margin of 15.99% and a return on equity of 2.93%. The company had revenue of $180.70 million for the quarter, compared to the consensus estimate of $175.92 million. During the same period last year, the business earned $0.50 EPS. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. Equities research analysts forecast that Hudson Pacific Properties Inc will post 1.86 EPS for the current year.
Several brokerages have recently issued reports on HPP. Zacks Investment Research raised Hudson Pacific Properties from a “sell” rating to a “hold” rating in a research report on Wednesday. Bank of America reissued a “buy” rating and issued a $37.00 target price (down previously from $41.00) on shares of Hudson Pacific Properties in a research report on Friday, November 30th. Scotiabank began coverage on Hudson Pacific Properties in a research report on Tuesday, October 16th. They issued an “outperform” rating for the company. Finally, Robert W. Baird lowered Hudson Pacific Properties from an “outperform” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Tuesday, August 21st. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $37.67.
Hudson Pacific Properties 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.
Recommended Story: Book Value Per Share in Stock Trading
Receive News & Ratings for Hudson Pacific Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hudson Pacific Properties and related companies with MarketBeat.com's FREE daily email newsletter.