Janney Montgomery Scott LLC Decreases Stock Position in Hudson Pacific Properties, Inc. (NYSE:HPP)
Janney Montgomery Scott LLC decreased its holdings in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 1.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 74,232 shares of the real estate investment trust’s stock after selling 1,165 shares during the period. Janney Montgomery Scott LLC’s holdings in Hudson Pacific Properties were worth $1,628,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently bought and sold shares of HPP. WASHINGTON TRUST Co purchased a new position in shares of Hudson Pacific Properties in the 2nd quarter valued at approximately $30,000. Advisor Group Holdings Inc. purchased a new position in shares of Hudson Pacific Properties in the first quarter worth $51,000. Kore Private Wealth LLC acquired a new stake in shares of Hudson Pacific Properties during the second quarter worth $75,000. Rowland Carmichael Advisors Inc. ADV purchased a new stake in shares of Hudson Pacific Properties during the second quarter valued at $202,000. Finally, Vestmark Advisory Solutions Inc. increased its position in shares of Hudson Pacific Properties by 5.6% in the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 9,496 shares of the real estate investment trust’s stock valued at $208,000 after acquiring an additional 507 shares during the period.
Several analysts have weighed in on HPP shares. TheStreet downgraded Hudson Pacific Properties from a “c” rating to a “d+” rating in a research note on Friday, October 30th. Wells Fargo & Company cut their price target on shares of Hudson Pacific Properties from $32.00 to $25.50 and set an “overweight” rating on the stock in a report on Wednesday, September 23rd. Zacks Investment Research cut shares of Hudson Pacific Properties from a “hold” rating to a “sell” rating in a research note on Thursday, October 29th. Mizuho cut shares of Hudson Pacific Properties from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $28.00 to $22.00 in a report on Monday, October 19th. Finally, ValuEngine downgraded shares of Hudson Pacific Properties from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $26.44.
Hudson Pacific Properties (NYSE:HPP) last posted its earnings results on Thursday, October 29th. The real estate investment trust reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.48). The business had revenue of $196.29 million for the quarter, compared to analyst estimates of $191.95 million. Hudson Pacific Properties had a net margin of 2.76% and a return on equity of 0.61%. Hudson Pacific Properties’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the business earned $0.51 earnings per share. Research analysts predict that Hudson Pacific Properties, Inc. will post 1.89 earnings per share for the current fiscal year.
In other news, Director Jonathan M. Glaser sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 11th. The stock was sold at an average price of $24.13, for a total transaction of $180,975.00. Following the completion of the transaction, the director now directly owns 124,904 shares of the company’s stock, valued at approximately $3,013,933.52. The sale was disclosed in a filing with the SEC, which is available at this link. 2.37% of the stock is owned by insiders.
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.
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