Credit Agricole S A boosted its position in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 43.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,496 shares of the real estate investment trust’s stock after buying an additional 33,733 shares during the period. Credit Agricole S A owned about 0.08% of Hudson Pacific Properties worth $3,828,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of HPP. Envestnet Asset Management Inc. raised its stake in shares of Hudson Pacific Properties by 8.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,019 shares of the real estate investment trust’s stock worth $105,000 after buying an additional 239 shares during the period. Strategic Investment Management LLC purchased a new stake in shares of Hudson Pacific Properties during the fourth quarter worth approximately $211,000. Nine Chapters Capital Management LLC purchased a new stake in shares of Hudson Pacific Properties during the first quarter worth approximately $215,000. Advisors Asset Management Inc. raised its stake in shares of 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 worth $234,000 after buying an additional 6,253 shares during the period. Finally, Sprott Inc. purchased a new stake in shares of Hudson Pacific Properties during the first quarter worth approximately $283,000.
Shares of Hudson Pacific Properties, Inc. (HPP) traded up 0.25% during trading on Friday, reaching $35.62. The company’s stock had a trading volume of 1,478,721 shares. Hudson Pacific Properties, Inc. has a 12 month low of $26.99 and a 12 month high of $36.75. The stock’s 50 day moving average price is $33.86 and its 200-day moving average price is $34.68. The firm has a market cap of $5.27 billion, a PE ratio of 97.86 and a beta of 0.80.
Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings data on Thursday, May 4th. The real estate investment trust reported $0.48 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. The firm had revenue of $168.30 million during the quarter, compared to analyst estimates of $173.93 million. Hudson Pacific Properties had a net margin of 8.20% and a return on equity of 1.40%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities analysts predict that Hudson Pacific Properties, Inc. will post $0.33 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Tuesday, June 20th will be paid a $0.25 dividend. The ex-dividend date is Friday, June 16th. This represents a $1.00 annualized dividend and a yield of 2.81%. Hudson Pacific Properties’s dividend payout ratio (DPR) is 285.72%.
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A number of analysts recently issued reports on the company. BidaskClub raised Hudson Pacific Properties from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Morgan Stanley lifted their target price on Hudson Pacific Properties from $38.00 to $39.00 and gave the company an “overweight” rating in a research report on Wednesday, March 1st. Zacks Investment Research downgraded Hudson Pacific Properties from a “buy” rating to a “hold” rating in a research report on Monday, February 27th. Barclays PLC lifted their target price on Hudson Pacific Properties from $39.00 to $40.00 and gave the company an “overweight” rating in a research report on Wednesday, April 19th. Finally, Mizuho downgraded Hudson Pacific Properties from a “buy” rating to a “neutral” rating and set a $35.00 target price on the stock. in a research report on Monday, March 20th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $38.44.
In other Hudson Pacific Properties news, CFO Mark T. Lammas sold 65,963 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $35.51, for a total value of $2,342,346.13. Following the completion of the sale, the chief financial officer now owns 321,780 shares in the company, valued at approximately $11,426,407.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Harout Krikor Diramerian sold 20,000 shares of the stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $34.01, for a total transaction of $680,200.00. Following the completion of the sale, the insider now owns 52,876 shares of the company’s stock, valued at approximately $1,798,312.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 169,549 shares of company stock valued at $5,981,459. Company insiders own 13.35% of the company’s stock.
About Hudson Pacific Properties
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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