First Republic Investment Management Inc. Cuts Stake in Hudson Pacific Properties, Inc. (NYSE:HPP)

First Republic Investment Management Inc. lessened its stake in Hudson Pacific Properties, Inc. (NYSE:HPPGet Rating) by 28.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,416 shares of the real estate investment trust’s stock after selling 12,659 shares during the quarter. First Republic Investment Management Inc.’s holdings in Hudson Pacific Properties were worth $801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Point72 Hong Kong Ltd bought a new stake in Hudson Pacific Properties during the 3rd quarter valued at about $47,000. Rockefeller Capital Management L.P. grew its holdings in shares of Hudson Pacific Properties by 20.9% during the third quarter. Rockefeller Capital Management L.P. now owns 4,923 shares of the real estate investment trust’s stock valued at $129,000 after buying an additional 851 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Hudson Pacific Properties during the third quarter valued at approximately $135,000. MML Investors Services LLC raised its holdings in Hudson Pacific Properties by 7.6% in the 3rd quarter. MML Investors Services LLC now owns 10,028 shares of the real estate investment trust’s stock worth $263,000 after acquiring an additional 705 shares during the last quarter. Finally, Capula Management Ltd bought a new position in Hudson Pacific Properties in the 3rd quarter valued at approximately $291,000. Institutional investors own 96.48% of the company’s stock.

Shares of Hudson Pacific Properties stock opened at $20.71 on Friday. The business has a 50-day moving average price of $25.57 and a 200-day moving average price of $25.41. Hudson Pacific Properties, Inc. has a twelve month low of $20.15 and a twelve month high of $30.35. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of -172.57, a PEG ratio of 2.33 and a beta of 0.87. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 1.18.

Hudson Pacific Properties (NYSE:HPPGet Rating) last issued its quarterly earnings data on Wednesday, April 27th. The real estate investment trust reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.63). Hudson Pacific Properties had a negative return on equity of 0.27% and a negative net margin of 1.08%. During the same period in the previous year, the firm earned $0.48 EPS. On average, equities analysts expect that Hudson Pacific Properties, Inc. will post 2.05 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Monday, March 21st were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.83%. Hudson Pacific Properties’s payout ratio is currently -833.26%.

Several research firms have recently weighed in on HPP. Piper Sandler decreased their price objective on shares of Hudson Pacific Properties from $28.00 to $25.00 in a report on Wednesday, May 4th. Mizuho downgraded Hudson Pacific Properties from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $29.00 to $24.50 in a report on Thursday, January 20th. The Goldman Sachs Group lowered their price objective on shares of Hudson Pacific Properties from $32.00 to $28.00 in a research note on Thursday, January 27th. Zacks Investment Research raised shares of Hudson Pacific Properties from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, StockNews.com assumed coverage on Hudson Pacific Properties in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Hudson Pacific Properties has an average rating of “Hold” and a consensus target price of $28.05.

About Hudson Pacific Properties (Get Rating)

Hudson Pacific is a real estate investment trust with a portfolio of office and studio properties totaling nearly 19 million square feet, including land for development. 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.

See Also

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Institutional Ownership by Quarter for Hudson Pacific Properties (NYSE:HPP)

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