Hudson Pacific Properties, Inc. (NYSE:HPP) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its stake in Hudson Pacific Properties, Inc. (NYSE:HPP) by 60.3% during the third quarter, Holdings Channel reports. The firm owned 370,434 shares of the real estate investment trust’s stock after selling 563,624 shares during the period. JPMorgan Chase & Co.’s holdings in Hudson Pacific Properties were worth $1,771,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Van ECK Associates Corp boosted its holdings in shares of Hudson Pacific Properties by 9.9% in the 3rd quarter. Van ECK Associates Corp now owns 26,718 shares of the real estate investment trust’s stock valued at $123,000 after purchasing an additional 2,399 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Hudson Pacific Properties by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 83,572 shares of the real estate investment trust’s stock valued at $402,000 after purchasing an additional 2,408 shares during the last quarter. abrdn plc boosted its holdings in shares of Hudson Pacific Properties by 10.5% in the 3rd quarter. abrdn plc now owns 28,406 shares of the real estate investment trust’s stock valued at $136,000 after purchasing an additional 2,710 shares during the last quarter. Amalgamated Bank lifted its holdings in shares of Hudson Pacific Properties by 10.0% during the 3rd quarter. Amalgamated Bank now owns 41,738 shares of the real estate investment trust’s stock valued at $200,000 after acquiring an additional 3,802 shares in the last quarter. Finally, Everence Capital Management Inc. lifted its holdings in shares of Hudson Pacific Properties by 17.4% during the 3rd quarter. Everence Capital Management Inc. now owns 27,430 shares of the real estate investment trust’s stock valued at $131,000 after acquiring an additional 4,070 shares in the last quarter. Institutional investors and hedge funds own 97.58% of the company’s stock.

Hudson Pacific Properties Stock Performance

Hudson Pacific Properties stock opened at $3.14 on Thursday. The firm’s fifty day moving average price is $3.18 and its 200 day moving average price is $4.32. The company has a market capitalization of $442.76 million, a price-to-earnings ratio of -1.50 and a beta of 1.30. Hudson Pacific Properties, Inc. has a 12-month low of $2.39 and a 12-month high of $9.25. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26.

Insider Transactions at Hudson Pacific Properties

In related news, CEO Victor J. Coleman bought 50,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was bought at an average price of $2.87 per share, with a total value of $143,500.00. Following the transaction, the chief executive officer now owns 487,451 shares of the company’s stock, valued at approximately $1,398,984.37. This trade represents a 11.43 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on HPP shares. Mizuho reduced their target price on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Piper Sandler reduced their target price on shares of Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating on the stock in a report on Friday, November 15th. Finally, Jefferies Financial Group reduced their target price on shares of Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Two equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Hudson Pacific Properties has an average rating of “Hold” and an average target price of $5.08.

Hudson Pacific Properties Profile

Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific's unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space.