Hudson Pacific Properties, Inc. (HPP) Shares Bought by Legal & General Group Plc
Legal & General Group Plc boosted its stake in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 9.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 709,514 shares of the real estate investment trust’s stock after buying an additional 63,624 shares during the period. Legal & General Group Plc owned about 0.48% of Hudson Pacific Properties worth $24,258,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its position in Hudson Pacific Properties by 126.8% in the first quarter. PNC Financial Services Group Inc. now owns 3,740 shares of the real estate investment trust’s stock valued at $130,000 after buying an additional 2,091 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new position in Hudson Pacific Properties during the second quarter valued at $168,000. Nine Chapters Capital Management LLC purchased a new position in Hudson Pacific Properties during the first quarter valued at $215,000. Advisors Asset Management Inc. raised its position in Hudson Pacific Properties by 1,278.7% in the first quarter. Advisors Asset Management Inc. now owns 6,742 shares of the real estate investment trust’s stock valued at $234,000 after buying an additional 6,253 shares in the last quarter. Finally, Sprott Inc. purchased a new position in Hudson Pacific Properties during the first quarter valued at $283,000.
Hudson Pacific Properties, Inc. (NYSE:HPP) opened at 33.00 on Friday. The company’s 50-day moving average price is $32.49 and its 200 day moving average price is $33.94. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 93.75 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 issued its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.01. The business had revenue of $166.85 million for the quarter, compared to analyst estimates of $175.79 million. Hudson Pacific Properties had a return on equity of 1.37% and a net margin of 7.87%. The firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.43 EPS. Equities research analysts predict that Hudson Pacific Properties, Inc. will post $0.34 earnings per share for the current year.
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Several equities analysts have recently weighed in on the company. BidaskClub lowered Hudson Pacific Properties from a “hold” rating to a “sell” rating in a research note on Saturday, July 8th. KeyCorp reissued a “buy” rating and set a $39.00 price target on shares of Hudson Pacific Properties in a research report on Friday, August 25th. Finally, Barclays PLC boosted their price target on Hudson Pacific Properties from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $38.69.
In related news, Director Jonathan M. Glaser acquired 15,000 shares of the stock in a transaction dated Friday, August 11th. The shares were acquired at an average price of $31.78 per share, with a total value of $476,700.00. Following the acquisition, the director now owns 132,405 shares in the company, valued at approximately $4,207,830.90. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Victor J. Coleman sold 58,086 shares of the stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $35.50, for a total value of $2,062,053.00. Following the transaction, the chief executive officer now directly owns 936,165 shares in the company, valued at approximately $33,233,857.50. The disclosure for this sale can be found here. In the last three months, insiders have bought 25,000 shares of company stock worth $797,600 and have sold 169,549 shares worth $5,981,459. Corporate insiders own 13.35% of the company’s stock.
Hudson Pacific Properties Company Profile
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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