Hudson Pacific Properties, Inc. (NYSE:HPP) Shares Sold by Algert Global LLC

Algert Global LLC lowered its position in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) by 44.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 530,961 shares of the real estate investment trust’s stock after selling 423,081 shares during the quarter. Algert Global LLC’s holdings in Hudson Pacific Properties were worth $2,538,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of HPP. Charles Schwab Investment Management Inc. increased its holdings in shares of Hudson Pacific Properties by 13.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,209,577 shares of the real estate investment trust’s stock valued at $24,902,000 after acquiring an additional 630,932 shares during the last quarter. Intech Investment Management LLC lifted its stake in Hudson Pacific Properties by 88.1% during the third quarter. Intech Investment Management LLC now owns 90,267 shares of the real estate investment trust’s stock worth $431,000 after purchasing an additional 42,276 shares during the last quarter. Anthracite Investment Company Inc. acquired a new position in Hudson Pacific Properties in the third quarter worth $1,320,000. Thrivent Financial for Lutherans increased its stake in Hudson Pacific Properties by 5.2% during the third quarter. Thrivent Financial for Lutherans now owns 110,760 shares of the real estate investment trust’s stock valued at $529,000 after purchasing an additional 5,448 shares during the last quarter. Finally, Metis Global Partners LLC acquired a new stake in shares of Hudson Pacific Properties during the third quarter worth $66,000. Institutional investors and hedge funds own 97.58% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Wells Fargo & Company decreased their price target on shares of Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating for the company in a report on Wednesday, September 11th. Scotiabank decreased their target price on Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating for the company in a research note on Monday, August 26th. The Goldman Sachs Group dropped their price target on Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. Wolfe Research lowered Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, August 14th. Finally, Piper Sandler lowered their price objective on Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating for the company in a research note on Friday, November 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.17.

Insiders Place Their Bets

In related news, CEO Victor J. Coleman acquired 50,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average price of $3.53 per share, for a total transaction of $176,500.00. Following the completion of the purchase, the chief executive officer now directly owns 437,451 shares of the company’s stock, valued at $1,544,202.03. The trade was a 12.90 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Andy Wattula sold 9,356 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $5.28, for a total value of $49,399.68. Following the sale, the chief operating officer now directly owns 61,068 shares in the company, valued at approximately $322,439.04. The trade was a 13.29 % decrease in their position. The disclosure for this sale can be found here. 3.92% of the stock is owned by insiders.

Hudson Pacific Properties Stock Performance

HPP stock opened at $3.62 on Wednesday. The company has a 50-day simple moving average of $4.41 and a 200 day simple moving average of $4.85. The company has a market capitalization of $511.25 million, a P/E ratio of -1.65 and a beta of 1.31. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. Hudson Pacific Properties, Inc. has a fifty-two week low of $3.01 and a fifty-two week high of $9.85.

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.