Prudential Financial Inc. Lowers Stock Holdings in Hudson Pacific Properties, Inc. (NYSE:HPP)

Prudential Financial Inc. reduced its holdings in Hudson Pacific Properties, Inc. (NYSE:HPP) by 62.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,147,455 shares of the real estate investment trust’s stock after selling 1,885,188 shares during the period. Prudential Financial Inc. owned about 0.81% of Hudson Pacific Properties worth $3,477,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in HPP. Xponance Inc. acquired a new stake in Hudson Pacific Properties in the 4th quarter valued at $30,000. Opinicus Capital Inc. acquired a new stake in shares of Hudson Pacific Properties in the fourth quarter valued at about $32,000. Cibc World Markets Corp purchased a new stake in shares of Hudson Pacific Properties during the fourth quarter worth about $39,000. Mutual Advisors LLC acquired a new position in shares of Hudson Pacific Properties during the 4th quarter worth about $44,000. Finally, Sanctuary Advisors LLC acquired a new position in shares of Hudson Pacific Properties during the 4th quarter worth about $45,000. 97.58% of the stock is currently owned by hedge funds and other institutional investors.

Hudson Pacific Properties Price Performance

Shares of HPP stock opened at $2.93 on Wednesday. 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 company has a market capitalization of $413.46 million, a PE ratio of -1.14 and a beta of 1.31. The firm’s 50-day moving average is $3.02 and its two-hundred day moving average is $3.56. Hudson Pacific Properties, Inc. has a 12 month low of $2.39 and a 12 month high of $6.69.

Hudson Pacific Properties (NYSE:HPP) last released its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm had revenue of $209.67 million for the quarter, compared to analyst estimates of $207.95 million. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. Analysts predict that Hudson Pacific Properties, Inc. will post 0.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on HPP. Morgan Stanley cut their price objective on Hudson Pacific Properties from $2.40 to $2.25 and set an “underweight” rating for the company in a research note on Tuesday, March 18th. The Goldman Sachs Group dropped 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. Wells Fargo & Company upgraded Hudson Pacific Properties from an “equal weight” rating to an “overweight” rating and set a $4.00 price objective on the stock in a report on Monday, March 10th. Jefferies Financial Group started coverage on shares of Hudson Pacific Properties in a report on Monday, March 17th. They set a “hold” rating and a $2.70 target price for the company. Finally, Piper Sandler decreased their price target on shares of Hudson Pacific Properties from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Monday, February 24th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $3.43.

Hudson Pacific Properties Company 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.