Prudential Financial Inc. Acquires 431,834 Shares of Hudson Pacific Properties Inc (HPP)

Prudential Financial Inc. grew its holdings in shares of Hudson Pacific Properties Inc (NYSE:HPP) by 21.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,487,091 shares of the real estate investment trust’s stock after purchasing an additional 431,834 shares during the quarter. Prudential Financial Inc. owned approximately 1.59% of Hudson Pacific Properties worth $83,392,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Public Employees Retirement System of Ohio raised its position in shares of Hudson Pacific Properties by 14.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 278,603 shares of the real estate investment trust’s stock worth $9,342,000 after buying an additional 35,805 shares during the period. Davis Selected Advisers raised its position in shares of Hudson Pacific Properties by 34.5% in the 3rd quarter. Davis Selected Advisers now owns 333,134 shares of the real estate investment trust’s stock worth $11,170,000 after buying an additional 85,535 shares during the period. Eii Capital Management Inc. purchased a new position in shares of Hudson Pacific Properties in the 3rd quarter worth $1,361,000. California Public Employees Retirement System raised its position in shares of Hudson Pacific Properties by 4.2% in the 3rd quarter. California Public Employees Retirement System now owns 322,393 shares of the real estate investment trust’s stock worth $10,810,000 after buying an additional 13,093 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. raised its position in shares of Hudson Pacific Properties by 2.1% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 75,904 shares of the real estate investment trust’s stock worth $2,545,000 after buying an additional 1,582 shares during the period. 99.48% of the stock is currently owned by institutional investors.

In related news, EVP Sanford Dale Shimoda sold 2,800 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $35.68, for a total transaction of $99,904.00. Following the sale, the executive vice president now owns 83,072 shares of the company’s stock, valued at $2,964,008.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Richard B. Fried sold 17,417 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $34.66, for a total value of $603,673.22. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.

HPP has been the subject of several recent research reports. Zacks Investment Research upgraded Hudson Pacific Properties from a “sell” rating to a “hold” rating in a report on Monday, November 6th. Goldman Sachs Group downgraded Hudson Pacific Properties from a “buy” rating to a “neutral” rating in a report on Monday, November 20th. Finally, KeyCorp reiterated a “buy” rating on shares of Hudson Pacific Properties in a report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $38.00.

Hudson Pacific Properties Inc (NYSE HPP) opened at $33.34 on Thursday. The company has a market capitalization of $5,221.79, a PE ratio of 81.32, a P/E/G ratio of 2.69 and a beta of 0.79. Hudson Pacific Properties Inc has a 52 week low of $31.52 and a 52 week high of $36.75. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.61.

Hudson Pacific Properties (NYSE:HPP) last posted its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.50 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.50. Hudson Pacific Properties had a return on equity of 1.58% and a net margin of 8.98%. The business had revenue of $190.02 million during the quarter, compared to the consensus estimate of $183.37 million. During the same period last year, the firm earned $0.46 earnings per share. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. analysts anticipate that Hudson Pacific Properties Inc will post 1.96 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Monday, December 18th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, December 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.00%. Hudson Pacific Properties’s dividend payout ratio (DPR) is presently 243.90%.

TRADEMARK VIOLATION NOTICE: This article was first posted by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this article on another publication, it was copied illegally and reposted in violation of US and international copyright laws. The original version of this article can be read at https://stocknewstimes.com/2018/01/11/hudson-pacific-properties-inc-hpp-position-raised-by-prudential-financial-inc.html.

Hudson Pacific Properties Profile

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.

Institutional Ownership by Quarter for Hudson Pacific Properties (NYSE:HPP)

Receive News & Ratings for Hudson Pacific Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hudson Pacific Properties and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply