Long Pond Capital LP Reduces Stock Holdings in Hudson Pacific Properties Inc (NYSE:HPP)
Long Pond Capital LP lowered its stake in shares of Hudson Pacific Properties Inc (NYSE:HPP) by 16.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,234,514 shares of the real estate investment trust’s stock after selling 1,015,160 shares during the period. Hudson Pacific Properties accounts for 5.2% of Long Pond Capital LP’s holdings, making the stock its 6th biggest position. Long Pond Capital LP owned about 3.38% of Hudson Pacific Properties worth $174,152,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in shares of Hudson Pacific Properties by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 1,943,883 shares of the real estate investment trust’s stock worth $56,489,000 after acquiring an additional 102,653 shares during the last quarter. First Republic Investment Management Inc. acquired a new position in shares of Hudson Pacific Properties during the 1st quarter worth approximately $201,000. Janus Henderson Group PLC acquired a new position in shares of Hudson Pacific Properties during the 1st quarter worth approximately $925,000. State Board of Administration of Florida Retirement System increased its holdings in shares of Hudson Pacific Properties by 0.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 152,761 shares of the real estate investment trust’s stock worth $5,258,000 after acquiring an additional 600 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in shares of Hudson Pacific Properties by 6.8% during the 1st quarter. California Public Employees Retirement System now owns 382,972 shares of the real estate investment trust’s stock worth $13,182,000 after acquiring an additional 24,448 shares during the last quarter.
HPP stock opened at $34.55 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $5.24 billion, a PE ratio of 18.58, a PEG ratio of 2.71 and a beta of 0.68. Hudson Pacific Properties Inc has a 1-year low of $27.12 and a 1-year high of $36.19. The business’s 50 day simple moving average is $34.04 and its 200 day simple moving average is $34.17.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 20th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date of this dividend is Thursday, September 19th. Hudson Pacific Properties’s dividend payout ratio is 53.76%.
In other news, Director Jonathan M. Glaser acquired 1,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were purchased at an average cost of $33.27 per share, with a total value of $33,270.00. Following the acquisition, the director now directly owns 127,649 shares in the company, valued at approximately $4,246,882.23. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Victor J. Coleman sold 38,749 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $33.63, for a total value of $1,303,128.87. Following the completion of the transaction, the chief executive officer now directly owns 686,901 shares in the company, valued at $23,100,480.63. The disclosure for this sale can be found here. Corporate insiders own 1.95% of the company’s stock.
A number of research analysts recently weighed in on HPP shares. Robert W. Baird set a $40.00 target price on Hudson Pacific Properties and gave the stock a “buy” rating in a report on Wednesday, August 21st. Zacks Investment Research lowered Hudson Pacific Properties from a “buy” rating to a “hold” rating in a report on Friday, July 5th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $38.50.
About Hudson Pacific Properties
Hudson Pacific Properties is a visionary real estate investment trust that owns and operates more than 17 million square feet of marquee office and studio properties. 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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