Thrivent Financial for Lutherans Sells 3,713 Shares of Hudson Pacific Properties, Inc. (NYSE:HPP)

Thrivent Financial for Lutherans lessened its stake in Hudson Pacific Properties, Inc. (NYSE:HPP – Get Rating) by 2.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 166,118 shares of the real estate investment trust’s stock after selling 3,713 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Hudson Pacific Properties were worth $1,616,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Hudson Pacific Properties by 31.9% during the 3rd quarter. BlackRock Inc. now owns 22,812,665 shares of the real estate investment trust’s stock valued at $249,799,000 after purchasing an additional 5,516,360 shares during the last quarter. Vanguard Group Inc. grew its holdings in Hudson Pacific Properties by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 22,183,249 shares of the real estate investment trust’s stock valued at $615,584,000 after buying an additional 160,204 shares in the last quarter. State Street Corp grew its holdings in Hudson Pacific Properties by 12.0% during the 1st quarter. State Street Corp now owns 8,287,870 shares of the real estate investment trust’s stock valued at $229,988,000 after buying an additional 885,181 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Hudson Pacific Properties by 12.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 4,298,007 shares of the real estate investment trust’s stock valued at $63,782,000 after buying an additional 469,341 shares in the last quarter. Finally, PGGM Investments purchased a new position in shares of Hudson Pacific Properties in the third quarter valued at $40,154,000. Hedge funds and other institutional investors own 95.57% of the company’s stock.

Insider Transactions at Hudson Pacific Properties

In other news, CIO Drew Gordon purchased 25,000 shares of the company’s stock in a transaction that occurred on Monday, March 27th. The shares were purchased at an average price of $5.96 per share, for a total transaction of $149,000.00. Following the purchase, the executive now directly owns 116,958 shares of the company’s stock, valued at approximately $697,069.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CIO Drew Gordon bought 25,000 shares of the stock in a transaction on Monday, March 27th. The shares were bought at an average cost of $5.96 per share, for a total transaction of $149,000.00. Following the purchase, the executive now owns 116,958 shares of the company’s stock, valued at approximately $697,069.68. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Arthur X. Suazo bought 10,000 shares of the stock in a transaction on Tuesday, March 28th. The stock was bought at an average price of $5.86 per share, for a total transaction of $58,600.00. Following the completion of the purchase, the executive vice president now directly owns 87,102 shares in the company, valued at approximately $510,417.72. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 38,975 shares of company stock valued at $232,523. Corporate insiders own 2.95% of the company’s stock.

Hudson Pacific Properties Price Performance

Shares of NYSE HPP opened at $4.56 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.80 and a current ratio of 1.80. Hudson Pacific Properties, Inc. has a fifty-two week low of $4.08 and a fifty-two week high of $20.34. The firm has a market capitalization of $642.50 million, a PE ratio of -11.40 and a beta of 1.09. The stock’s 50-day simple moving average is $5.75 and its 200-day simple moving average is $8.70.

Hudson Pacific Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 30th. Stockholders of record on Monday, March 20th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 21.93%. The ex-dividend date was Friday, March 17th. Hudson Pacific Properties’s dividend payout ratio (DPR) is presently -249.99%.

Analysts Set New Price Targets

HPP has been the subject of several recent analyst reports. BMO Capital Markets dropped their price objective on shares of Hudson Pacific Properties from $8.00 to $7.00 and set a “market perform” rating for the company in a research note on Monday, April 10th. Wells Fargo & Company dropped their price objective on shares of Hudson Pacific Properties from $10.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, March 16th. Morgan Stanley decreased their price objective on Hudson Pacific Properties from $10.00 to $6.00 and set an “equal weight” rating for the company in a report on Friday, March 31st. The Goldman Sachs Group started coverage on Hudson Pacific Properties in a report on Tuesday, March 21st. They issued a “sell” rating and a $5.50 price objective for the company. Finally, StockNews.com initiated coverage on Hudson Pacific Properties in a report on Thursday. They issued a “sell” rating for the company. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $10.63.

About Hudson Pacific Properties

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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.