Verition Fund Management LLC Sells 176,998 Shares of Hudson Pacific Properties, Inc. (NYSE:HPP)

Verition Fund Management LLC decreased its stake in Hudson Pacific Properties, Inc. (NYSE:HPP) by 16.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 881,290 shares of the real estate investment trust’s stock after selling 176,998 shares during the period. Verition Fund Management LLC owned 0.62% of Hudson Pacific Properties worth $4,213,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in Hudson Pacific Properties by 13.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,209,577 shares of the real estate investment trust’s stock worth $24,902,000 after acquiring an additional 630,932 shares during the period. Millennium Management LLC raised its position in Hudson Pacific Properties by 282.7% in the second quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock worth $8,594,000 after acquiring an additional 1,319,869 shares during the period. B&I Capital AG raised its position in Hudson Pacific Properties by 23.4% in the second quarter. B&I Capital AG now owns 1,699,283 shares of the real estate investment trust’s stock worth $8,174,000 after acquiring an additional 322,033 shares during the period. Bank of New York Mellon Corp raised its position in Hudson Pacific Properties by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 1,290,803 shares of the real estate investment trust’s stock worth $6,209,000 after acquiring an additional 43,728 shares during the period. Finally, Davis Selected Advisers raised its position in Hudson Pacific Properties by 78.0% in the second quarter. Davis Selected Advisers now owns 1,224,493 shares of the real estate investment trust’s stock worth $5,890,000 after acquiring an additional 536,540 shares during the period. Institutional investors own 97.58% of the company’s stock.

Hudson Pacific Properties Stock Performance

Hudson Pacific Properties stock opened at $3.71 on Wednesday. The firm’s 50 day simple moving average is $4.26 and its 200 day simple moving average is $4.77. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $523.26 million, a PE ratio of -1.77 and a beta of 1.27. Hudson Pacific Properties, Inc. has a 1-year low of $3.01 and a 1-year high of $9.85.

Insiders Place Their Bets

In other Hudson Pacific Properties news, COO Andy Wattula sold 9,356 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $5.28, for a total value of $49,399.68. Following the completion of the transaction, the chief operating officer now owns 61,068 shares of the company’s stock, valued at $322,439.04. The trade was a 13.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Victor J. Coleman purchased 50,000 shares of the business’s stock in a transaction on Monday, November 25th. The stock was bought at an average cost of $3.53 per share, with a total value of $176,500.00. Following the purchase, the chief executive officer now owns 437,451 shares in the company, valued at approximately $1,544,202.03. This represents a 12.90 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.92% of the company’s stock.

Analyst Ratings Changes

HPP has been the topic of several research reports. Wells Fargo & Company lowered their price target on shares of Hudson Pacific Properties from $5.00 to $4.50 and set an “equal weight” rating on the stock in a research report on Wednesday, September 11th. Piper Sandler lowered their price target on shares of Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating on the stock in a research report on Friday, November 15th. BMO Capital Markets lowered shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $8.00 to $6.00 in a research report on Thursday, August 8th. The Goldman Sachs Group lowered their price target on shares of 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. Finally, Scotiabank lowered their price target on shares of Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating on the stock in a research report on Monday, August 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.17.

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.