Shinko Asset Management Co. Ltd. increased its stake in Hudson Pacific Properties Inc. (NYSE:HPP) by 84.2% during the second quarter, Holdings Channel reports. The fund owned 2,294,991 shares of the real estate investment trust’s stock after buying an additional 1,049,207 shares during the period. Shinko Asset Management Co. Ltd.’s holdings in Hudson Pacific Properties were worth $66,968,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. BlackRock Japan Co. Ltd raised its stake in shares of Hudson Pacific Properties by 1.4% in the first quarter. BlackRock Japan Co. Ltd now owns 3,887 shares of the real estate investment trust’s stock valued at $112,000 after buying an additional 54 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Hudson Pacific Properties by 0.9% in the first quarter. Legal & General Group Plc now owns 143,737 shares of the real estate investment trust’s stock valued at $4,157,000 after buying an additional 1,310 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Hudson Pacific Properties by 17.6% in the first quarter. Squarepoint Ops LLC now owns 12,000 shares of the real estate investment trust’s stock valued at $347,000 after buying an additional 1,800 shares during the last quarter. UBS Group AG raised its stake in shares of Hudson Pacific Properties by 3.5% in the first quarter. UBS Group AG now owns 85,085 shares of the real estate investment trust’s stock valued at $2,461,000 after buying an additional 2,865 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of Hudson Pacific Properties by 10.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 42,800 shares of the real estate investment trust’s stock valued at $1,204,000 after buying an additional 4,000 shares during the last quarter. 86.72% of the stock is owned by institutional investors.

Shares of Hudson Pacific Properties Inc. (NYSE:HPP) traded up 1.35% on Friday, hitting $32.31. 3,366,274 shares of the stock traded hands. The firm’s 50 day moving average is $33.33 and its 200-day moving average is $30.03. Hudson Pacific Properties Inc. has a 12 month low of $22.77 and a 12 month high of $34.38. The company’s market cap is $3.07 billion.

Hudson Pacific Properties (NYSE:HPP) last released its earnings results on Thursday, August 4th. The real estate investment trust reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Hudson Pacific Properties had a return on equity of 0.15% and a net margin of 0.92%. The company earned $154.30 million during the quarter, compared to the consensus estimate of $151.59 million. Equities analysts predict that Hudson Pacific Properties Inc. will post $1.76 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Tuesday, September 20th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Friday, September 16th. Hudson Pacific Properties’s dividend payout ratio (DPR) is currently -1,142.69%.

Several brokerages recently commented on HPP. Robert W. Baird began coverage on shares of Hudson Pacific Properties in a report on Thursday, June 30th. They issued an “outperform” rating and a $38.00 price target for the company. Zacks Investment Research lowered shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and set a $35.00 price target for the company. in a report on Wednesday, July 13th. Mizuho raised shares of Hudson Pacific Properties from a “neutral” rating to a “buy” rating and set a $37.00 price target for the company in a report on Friday, July 22nd. DA Davidson boosted their price target on shares of Hudson Pacific Properties from $37.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Finally, Barclays PLC upped their target price on shares of Hudson Pacific Properties from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday, July 19th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $36.00.

In other Hudson Pacific Properties news, Director Richard B. Fried sold 804,627 shares of the firm’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $30.32, for a total value of $24,396,290.64. Following the completion of the sale, the director now owns 20,559 shares of the company’s stock, valued at $623,348.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 13.35% of the stock is owned by company insiders.

About Hudson Pacific Properties

Hudson Pacific Properties, Inc is a full-service, vertically integrated real estate investment trust (REIT). The Company is focused on owning, operating and acquiring office, and media and entertainment properties in select growth markets primarily in Northern and Southern California, and the Pacific Northwest.

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