Hudson Pacific Properties, Inc. (NYSE:HPP) Shares Bought by BlackRock Inc.

BlackRock Inc. lifted its holdings in Hudson Pacific Properties, Inc. (NYSE:HPP – Get Rating) by 31.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 22,812,665 shares of the real estate investment trust’s stock after acquiring an additional 5,516,360 shares during the quarter. BlackRock Inc. owned approximately 0.16% of Hudson Pacific Properties worth $249,799,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Captrust Financial Advisors acquired a new position in shares of Hudson Pacific Properties in the second quarter worth about $33,000. Point72 Hong Kong Ltd acquired a new position in Hudson Pacific Properties in the 2nd quarter worth approximately $35,000. CWM LLC grew its position in Hudson Pacific Properties by 196.8% during the 3rd quarter. CWM LLC now owns 3,520 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 2,334 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Hudson Pacific Properties by 404.6% during the 3rd quarter. Quadrant Capital Group LLC now owns 5,515 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 4,422 shares during the period. Finally, Dark Forest Capital Management LP purchased a new stake in shares of Hudson Pacific Properties in the second quarter valued at $63,000. 95.57% of the stock is currently owned by institutional investors.

Hudson Pacific Properties Stock Down 2.8 %

HPP opened at $7.75 on Tuesday. The firm has a market cap of $1.09 billion, a P/E ratio of -19.87 and a beta of 1.11. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.21 and a current ratio of 2.21. The business has a 50 day moving average price of $10.01 and a 200 day moving average price of $10.78. Hudson Pacific Properties, Inc. has a twelve month low of $7.59 and a twelve month high of $28.66.

Hudson Pacific Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Stockholders of record on Monday, March 20th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.90%. The ex-dividend date of this dividend is Friday, March 17th. Hudson Pacific Properties’s payout ratio is -256.40%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Mizuho dropped their price target on Hudson Pacific Properties from $12.00 to $10.00 and set an “underperform” rating on the stock in a research report on Wednesday, January 4th. Morgan Stanley reduced their price target 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. Wells Fargo & Company cut their target price on shares of Hudson Pacific Properties to $10.00 in a research report on Wednesday, December 14th. Robert W. Baird upgraded shares of Hudson Pacific Properties from a “neutral” rating to an “outperform” rating and lowered their price target for the company from $13.00 to $12.00 in a report on Thursday, January 5th. Finally, StockNews.com upgraded Hudson Pacific Properties from a “sell” rating to a “hold” rating in a report on Friday, February 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $14.64.

Hudson Pacific Properties Company Profile

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Hudson Pacific Properties, Inc is a real estate company, which acquires, repositions, develops, and operates sustainable office and state of-the-art studio properties in high-barrier-to-entry submarkets in California, the Pacific Northwest, Western Canada, and Greater London, United Kingdom. It operates through the Office Properties and Studio Properties segments.