California Public Employees Retirement System Increases Position in Hudson Pacific Properties Inc (HPP)

California Public Employees Retirement System increased its stake in Hudson Pacific Properties Inc (NYSE:HPP) by 4.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 322,393 shares of the real estate investment trust’s stock after acquiring an additional 13,093 shares during the period. California Public Employees Retirement System owned about 0.21% of Hudson Pacific Properties worth $10,810,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. grew its position in Hudson Pacific Properties by 9.1% in the third quarter. Schwab Charles Investment Management Inc. now owns 1,599,938 shares of the real estate investment trust’s stock worth $53,646,000 after acquiring an additional 133,990 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in Hudson Pacific Properties by 4.2% during the third quarter. State Board of Administration of Florida Retirement System now owns 118,636 shares of the real estate investment trust’s stock valued at $3,978,000 after buying an additional 4,740 shares during the period. Honeywell International Inc. boosted its position in Hudson Pacific Properties by 27.8% during the third quarter. Honeywell International Inc. now owns 64,220 shares of the real estate investment trust’s stock valued at $2,153,000 after buying an additional 13,950 shares during the period. State of Wisconsin Investment Board purchased a new stake in Hudson Pacific Properties during the second quarter valued at about $1,064,000. Finally, Commonwealth Bank of Australia boosted its position in Hudson Pacific Properties by 3.1% during the third quarter. Commonwealth Bank of Australia now owns 1,330,204 shares of the real estate investment trust’s stock valued at $44,599,000 after buying an additional 40,288 shares during the period. Institutional investors own 99.47% of the company’s stock.

HPP has been the subject of several analyst reports. KeyCorp restated a “buy” rating on shares of Hudson Pacific Properties in a research report on Tuesday, September 26th. Goldman Sachs Group initiated coverage on shares of Hudson Pacific Properties in a research report on Tuesday, September 19th. They set a “buy” rating and a $39.00 price target for the company. Zacks Investment Research upgraded shares of Hudson Pacific Properties from a “sell” rating to a “hold” rating in a research report on Monday, November 6th. Finally, Morgan Stanley cut their price target on shares of Hudson Pacific Properties from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $38.33.

Shares of Hudson Pacific Properties Inc (HPP) opened at $33.91 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.32. Hudson Pacific Properties Inc has a 1 year low of $31.52 and a 1 year high of $36.75. The stock has a market cap of $5,260.00, a PE ratio of 86.95, a price-to-earnings-growth ratio of 2.82 and a beta of 0.78.

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

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Monday, December 18th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Friday, December 15th. Hudson Pacific Properties’s dividend payout ratio (DPR) is 256.41%.

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

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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.

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

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