Spirit of America Management Corp NY reduced its stake in Hudson Pacific Properties, Inc. (NYSE:HPP) by 2.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 83,400 shares of the real estate investment trust’s stock after selling 2,400 shares during the period. Spirit of America Management Corp NY owned approximately 0.05% of Hudson Pacific Properties worth $2,851,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. Eqis Capital Management Inc. acquired a new stake in shares of Hudson Pacific Properties during the second quarter valued at $307,000. Sprott Inc. raised its position in Hudson Pacific Properties by 11.9% in the second quarter. Sprott Inc. now owns 9,145 shares of the real estate investment trust’s stock valued at $313,000 after buying an additional 975 shares during the period. Bank of Montreal Can raised its position in Hudson Pacific Properties by 31.2% in the second quarter. Bank of Montreal Can now owns 67,954 shares of the real estate investment trust’s stock valued at $2,323,000 after buying an additional 16,154 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Hudson Pacific Properties by 35.9% in the first quarter. Nomura Asset Management Co. Ltd. now owns 106,854 shares of the real estate investment trust’s stock valued at $3,702,000 after buying an additional 28,234 shares during the period. Finally, Nuveen Asset Management LLC raised its position in Hudson Pacific Properties by 281.8% in the first quarter. Nuveen Asset Management LLC now owns 1,968,038 shares of the real estate investment trust’s stock valued at $68,173,000 after buying an additional 1,452,589 shares during the period.
Hudson Pacific Properties, Inc. (NYSE HPP) traded down 1.31% during mid-day trading on Friday, hitting $31.73. 943,793 shares of the stock were exchanged. The company has a 50 day moving average price of $32.81 and a 200 day moving average price of $34.21. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 90.14 and a beta of 0.75. Hudson Pacific Properties, Inc. has a 52-week low of $31.53 and a 52-week high of $36.75.
Hudson Pacific Properties (NYSE:HPP) last released its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.48 earnings per share 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 business had revenue of $166.85 million during the quarter, compared to analyst estimates of $175.79 million. During the same quarter last year, the company posted $0.43 EPS. Hudson Pacific Properties’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, analysts anticipate that Hudson Pacific Properties, Inc. will post $0.29 EPS for the current year.
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Several research analysts recently commented on the stock. BidaskClub lowered shares of Hudson Pacific Properties from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Barclays PLC upped their price target on shares of Hudson Pacific Properties from $39.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, April 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $38.44.
In other Hudson Pacific Properties news, CFO Mark T. Lammas sold 65,963 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $35.51, for a total transaction of $2,342,346.13. Following the completion of the sale, the chief financial officer now directly owns 321,780 shares in the company, valued at approximately $11,426,407.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sanford Dale Shimoda sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $35.55, for a total value of $177,750.00. Following the sale, the executive vice president now owns 93,872 shares of the company’s stock, valued at $3,337,149.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 25,000 shares of company stock valued at $797,600 and have sold 169,549 shares valued at $5,981,459. Company insiders own 13.35% of the company’s stock.
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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