BlackRock Fund Advisors Buys 1,148,866 Shares of Hudson Pacific Properties, Inc. (HPP)

BlackRock Fund Advisors increased its stake in Hudson Pacific Properties, Inc. (NYSE:HPP) by 60.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,042,392 shares of the real estate investment trust’s stock after buying an additional 1,148,866 shares during the period. BlackRock Fund Advisors owned about 3.20% of Hudson Pacific Properties worth $100,003,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. bought a new position in shares of Hudson Pacific Properties during the third quarter valued at approximately $116,000. BlackRock Japan Co. Ltd increased its position in shares of Hudson Pacific Properties by 14.3% in the second quarter. BlackRock Japan Co. Ltd now owns 4,444 shares of the real estate investment trust’s stock valued at $130,000 after buying an additional 557 shares during the last quarter. Bank of Montreal Can increased its position in shares of Hudson Pacific Properties by 0.8% in the third quarter. Bank of Montreal Can now owns 6,733 shares of the real estate investment trust’s stock valued at $222,000 after buying an additional 51 shares during the last quarter. Aperio Group LLC increased its position in shares of Hudson Pacific Properties by 2.0% in the third quarter. Aperio Group LLC now owns 7,993 shares of the real estate investment trust’s stock valued at $263,000 after buying an additional 154 shares during the last quarter. Finally, M&T Bank Corp increased its position in shares of Hudson Pacific Properties by 12.3% in the third quarter. M&T Bank Corp now owns 8,192 shares of the real estate investment trust’s stock valued at $269,000 after buying an additional 897 shares during the last quarter. 92.09% of the stock is currently owned by hedge funds and other institutional investors.

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

Hudson Pacific Properties, Inc. (NYSE:HPP) opened at 34.70 on Tuesday. The firm’s market capitalization is $3.99 billion. The company’s 50-day moving average price is $34.33 and its 200-day moving average price is $32.90. Hudson Pacific Properties, Inc. has a 1-year low of $22.77 and a 1-year high of $35.89.

Hudson Pacific Properties (NYSE:HPP) last announced its quarterly earnings data on Thursday, November 3rd. The real estate investment trust reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.02. Hudson Pacific Properties had a return on equity of 0.25% and a net margin of 1.51%. The firm had revenue of $164.60 million for the quarter, compared to analysts’ expectations of $17.50 million. Equities research analysts expect that Hudson Pacific Properties, Inc. will post $0.04 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 29th. Stockholders of record on Monday, December 19th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, December 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.31%. Hudson Pacific Properties’s dividend payout ratio (DPR) is currently -7,992.01%.

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Several brokerages have commented on HPP. Wells Fargo & Company reaffirmed a “hold” rating and set a $34.50 target price on shares of Hudson Pacific Properties in a report on Thursday, December 1st. Zacks Investment Research downgraded Hudson Pacific Properties from a “buy” rating to a “hold” rating in a research note on Thursday, October 6th. Mizuho reissued a “buy” rating on shares of Hudson Pacific Properties in a research note on Friday, December 23rd. BTIG Research reissued a “buy” rating and issued a $40.00 price objective (up from $39.00) on shares of Hudson Pacific Properties in a research note on Saturday. Finally, Bank of America Corporation reissued a “positive” rating on shares of Hudson Pacific Properties in a research note on Thursday, September 22nd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $36.25.

In other news, Director Richard B. Fried sold 1,165,918 shares of the firm’s stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $32.50, for a total transaction of $37,892,335.00. Following the transaction, the director now directly owns 20,559 shares of the company’s stock, valued at $668,167.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 13.35% of the company’s stock.

Hudson Pacific Properties Company Profile

Hudson Pacific Properties, Inc is a full-service, vertically integrated real estate investment trust (REIT). The Company is focused on owning, operating and acquiring office, and media and entertainment properties in select growth markets primarily in Northern and Southern California, and the Pacific Northwest.

5 Day Chart for NYSE:HPP

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