Sei Investments Co. lowered its stake in Hudson Pacific Properties, Inc. (NYSE:HPP) by 32.5% during the second quarter, Holdings Channel reports. The firm owned 302,880 shares of the real estate investment trust’s stock after selling 145,752 shares during the period. Sei Investments Co.’s holdings in Hudson Pacific Properties were worth $10,355,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of HPP. PNC Financial Services Group Inc. boosted its stake in Hudson Pacific Properties by 126.8% in the first quarter. PNC Financial Services Group Inc. now owns 3,740 shares of the real estate investment trust’s stock worth $130,000 after buying an additional 2,091 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in Hudson Pacific Properties during the second quarter worth $168,000. Nine Chapters Capital Management LLC acquired a new stake in Hudson Pacific Properties during the first quarter worth $215,000. Advisors Asset Management Inc. boosted its stake in Hudson Pacific Properties by 1,278.7% in the first quarter. Advisors Asset Management Inc. now owns 6,742 shares of the real estate investment trust’s stock worth $234,000 after buying an additional 6,253 shares in the last quarter. Finally, Sprott Inc. acquired a new stake in Hudson Pacific Properties during the first quarter worth $283,000.
Shares of Hudson Pacific Properties, Inc. (NYSE:HPP) opened at 32.15 on Friday. The firm has a market capitalization of $4.99 billion, a PE ratio of 91.34 and a beta of 0.75. Hudson Pacific Properties, Inc. has a 1-year low of $31.53 and a 1-year high of $36.75. The stock has a 50 day moving average price of $32.90 and a 200 day moving average price of $34.24.
Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.01. Hudson Pacific Properties had a return on equity of 1.37% and a net margin of 7.87%. The company had revenue of $166.85 million during the quarter, compared to analysts’ expectations of $175.79 million. During the same period in the prior year, the company earned $0.43 EPS. Hudson Pacific Properties’s revenue was up 15.5% compared to the same quarter last year. Equities research analysts anticipate that Hudson Pacific Properties, Inc. will post $0.29 earnings per share for the current fiscal year.
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A number of research firms recently weighed in on HPP. BidaskClub raised Hudson Pacific Properties from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Barclays PLC raised their price target on Hudson Pacific Properties from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $38.44.
In other news, insider Harout Krikor Diramerian sold 20,000 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $34.01, for a total value of $680,200.00. Following the completion of the transaction, the insider now directly owns 52,876 shares in the company, valued at approximately $1,798,312.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alex Vouvalides sold 6,500 shares of the stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $35.16, for a total value of $228,540.00. Following the completion of the transaction, the insider now owns 177,170 shares of the company’s stock, valued at $6,229,297.20. The disclosure for this sale can be found here. Insiders sold a total of 169,549 shares of company stock valued at $5,981,459 over the last quarter. 13.35% of the stock is owned by corporate insiders.
About Hudson Pacific Properties
Hudson Pacific Properties, Inc is a real estate investment trust (REIT). The Company operates in two segments: office properties, and media and entertainment properties. The Company is focused on acquiring, repositioning, developing and operating office and media and entertainment properties in submarkets throughout Northern and Southern California and the Pacific Northwest.
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