New York State Teachers Retirement System increased its position in shares of Hudson Pacific Properties, Inc. (NYSE:HPP – Get Rating) by 7.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,962 shares of the real estate investment trust’s stock after acquiring an additional 7,633 shares during the quarter. New York State Teachers Retirement System’s holdings in Hudson Pacific Properties were worth $1,171,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Captrust Financial Advisors acquired a new stake in Hudson Pacific Properties during the 2nd quarter worth about $33,000. Point72 Hong Kong Ltd purchased a new position in Hudson Pacific Properties during the second quarter valued at approximately $35,000. CWM LLC increased its stake in Hudson Pacific Properties by 196.8% in the 3rd quarter. CWM LLC now owns 3,520 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 2,334 shares during the period. Dark Forest Capital Management LP purchased a new stake in Hudson Pacific Properties in the 2nd quarter worth approximately $63,000. Finally, Wipfli Financial Advisors LLC purchased a new stake in Hudson Pacific Properties in the 3rd quarter worth approximately $76,000. Hedge funds and other institutional investors own 95.57% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Hudson Pacific Properties to $10.00 in a research note on Wednesday, December 14th. Mizuho cut their price target on Hudson Pacific Properties from $12.00 to $10.00 and set an “underperform” rating for the company in a research note on Wednesday, January 4th. BTIG Research cut Hudson Pacific Properties from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 19th. StockNews.com raised shares of Hudson Pacific Properties from a “sell” rating to a “hold” rating in a research report on Friday, January 13th. Finally, Morgan Stanley decreased their target price on shares of Hudson Pacific Properties from $13.00 to $10.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 23rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $14.64.
Hudson Pacific Properties Stock Performance
Hudson Pacific Properties (NYSE:HPP – Get Rating) last issued its quarterly earnings results on Wednesday, November 2nd. The real estate investment trust reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.63). The business had revenue of $260.35 million during the quarter, compared to analyst estimates of $252.59 million. Hudson Pacific Properties had a negative net margin of 2.79% and a negative return on equity of 0.79%. On average, sell-side analysts anticipate that Hudson Pacific Properties, Inc. will post 2.03 EPS for the current year.
Hudson Pacific Properties Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 29th. Shareholders of record on Monday, December 19th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.84%. The ex-dividend date of this dividend was Friday, December 16th. Hudson Pacific Properties’s dividend payout ratio is currently -400.00%.
About Hudson Pacific Properties
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.
- Get a free copy of the StockNews.com research report on Hudson Pacific Properties (HPP)
- Exxon Mobil Stock: Within Striking Distance Of Buy Point
- High-Dividend-Yielding BHP Sees China Driving ’23 Growth
- Is Airbnb Setting Up To Rally 38%, As Analysts Are Forecasting?
- Does a Price Cut for Tesla Vehicles Mean the Same for TSLA Stock?
- Microsoft Layoffs Signal Layoffs for Other Tech Companies?
Receive News & Ratings for Hudson Pacific Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hudson Pacific Properties and related companies with MarketBeat.com's FREE daily email newsletter.