Advisors Asset Management Inc. Buys New Shares in Hudson Pacific Properties, Inc. $HPP

Advisors Asset Management Inc. purchased a new position in Hudson Pacific Properties, Inc. (NYSE:HPP) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 211,584 shares of the real estate investment trust’s stock, valued at approximately $584,000.

Several other institutional investors have also recently made changes to their positions in HPP. Allspring Global Investments Holdings LLC bought a new stake in Hudson Pacific Properties during the 2nd quarter valued at $729,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Hudson Pacific Properties during the second quarter valued at about $29,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Hudson Pacific Properties by 147.4% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 242,512 shares of the real estate investment trust’s stock worth $664,000 after acquiring an additional 144,500 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Hudson Pacific Properties by 27.9% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 194,556 shares of the real estate investment trust’s stock worth $533,000 after acquiring an additional 42,437 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of Hudson Pacific Properties by 32.0% in the 2nd quarter. Allianz Asset Management GmbH now owns 1,117,300 shares of the real estate investment trust’s stock worth $3,061,000 after acquiring an additional 270,976 shares during the last quarter. Institutional investors and hedge funds own 97.58% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on HPP shares. BTIG Research set a $26.00 target price on Hudson Pacific Properties and gave the company a “buy” rating in a research report on Friday, January 2nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $13.00 target price on shares of Hudson Pacific Properties in a report on Monday, January 5th. The Goldman Sachs Group set a $14.50 price target on shares of Hudson Pacific Properties and gave the company a “neutral” rating in a research report on Thursday, January 29th. Morgan Stanley reaffirmed an “underweight” rating and issued a $8.00 price objective on shares of Hudson Pacific Properties in a research report on Thursday, January 29th. Finally, Zacks Research cut shares of Hudson Pacific Properties from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. Four analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Hudson Pacific Properties has a consensus rating of “Hold” and a consensus price target of $14.64.

Hudson Pacific Properties Stock Up 0.1%

Hudson Pacific Properties stock opened at $6.33 on Thursday. The firm has a 50 day moving average price of $9.47 and a 200-day moving average price of $14.63. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.20. Hudson Pacific Properties, Inc. has a twelve month low of $5.55 and a twelve month high of $23.52. The company has a market capitalization of $343.00 million, a P/E ratio of -0.37 and a beta of 1.49.

Hudson Pacific Properties Profile

Hudson Pacific Properties (NYSE: HPP) is a self-managed real estate investment trust focused on the acquisition, development and management of high-quality office and studio properties. The company’s portfolio spans strategic West Coast markets in the United States and key markets in Canada, providing space for technology, media and creative companies as well as major film and television producers. As an owner and operator of both traditional office buildings and specialized production facilities, Hudson Pacific seeks to deliver stable income through long-term leases and strategic property enhancements.

In its office segment, Hudson Pacific targets markets with strong job growth and limited supply, including Los Angeles, Silicon Valley, San Diego and Seattle, as well as Vancouver, British Columbia.