Davis Selected Advisers Acquires 1,067,940 Shares of Hudson Pacific Properties, Inc. (NYSE:HPP)

Davis Selected Advisers grew its holdings in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 88.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,280,963 shares of the real estate investment trust’s stock after buying an additional 1,067,940 shares during the quarter. Davis Selected Advisers owned 1.62% of Hudson Pacific Properties worth $6,911,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in HPP. Opinicus Capital Inc. acquired a new position in Hudson Pacific Properties during the 4th quarter valued at about $32,000. Venturi Wealth Management LLC purchased a new position in shares of Hudson Pacific Properties during the third quarter valued at approximately $44,000. Mutual Advisors LLC bought a new stake in Hudson Pacific Properties during the fourth quarter worth $44,000. Sanctuary Advisors LLC purchased a new stake in Hudson Pacific Properties in the 4th quarter valued at $45,000. Finally, Stifel Financial Corp bought a new position in Hudson Pacific Properties during the 3rd quarter valued at $48,000. 97.58% of the stock is owned by institutional investors.

Insider Activity at Hudson Pacific Properties

In other Hudson Pacific Properties news, CEO Victor J. Coleman bought 50,000 shares of the stock in a transaction on Wednesday, December 18th. The shares were acquired at an average price of $2.87 per share, with a total value of $143,500.00. Following the acquisition, the chief executive officer now directly owns 487,451 shares of the company’s stock, valued at $1,398,984.37. The trade was a 11.43 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.95% of the stock is currently owned by corporate insiders.

Hudson Pacific Properties Stock Performance

Shares of HPP opened at $3.16 on Friday. Hudson Pacific Properties, Inc. has a 1 year low of $2.39 and a 1 year high of $7.20. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26. The stock’s fifty day moving average price is $3.01 and its two-hundred day moving average price is $3.85. The firm has a market cap of $445.97 million, a PE ratio of -1.23 and a beta of 1.31.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The business had revenue of $209.67 million for the quarter, compared to analysts’ expectations of $207.95 million. Hudson Pacific Properties had a negative return on equity of 12.64% and a negative net margin of 44.01%. On average, equities research analysts forecast that Hudson Pacific Properties, Inc. will post 0.45 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on HPP. Mizuho reduced their target price on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Scotiabank decreased their price objective on shares of Hudson Pacific Properties from $4.00 to $3.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 18th. Jefferies Financial Group dropped their target price on shares of Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating on the stock in a research report on Thursday, January 2nd. The Goldman Sachs Group decreased their price target on Hudson Pacific Properties from $3.90 to $3.40 and set a “neutral” rating for the company in a research report on Tuesday, February 25th. Finally, Piper Sandler dropped their price target on Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating on the stock in a report on Monday, February 24th. Two analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $4.31.

Hudson Pacific Properties Profile

Hudson Pacific Properties (NYSE: HPP) is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific's unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space.