MQS Management LLC Makes New Investment in Hudson Pacific Properties, Inc. (NYSE:HPP)

MQS Management LLC purchased a new position in shares of Hudson Pacific Properties, Inc. (NYSE:HPP) during the 3rd quarter, Holdings Channel reports. The fund purchased 12,186 shares of the real estate investment trust’s stock, valued at approximately $58,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HPP. Millennium Management LLC raised its holdings in shares of Hudson Pacific Properties by 282.7% in the 2nd quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock valued at $8,594,000 after purchasing an additional 1,319,869 shares during the period. Scion Asset Management LLC bought a new stake in shares of Hudson Pacific Properties in the 2nd quarter valued at about $5,505,000. GSA Capital Partners LLP raised its holdings in shares of Hudson Pacific Properties by 1,822.5% in the 3rd quarter. GSA Capital Partners LLP now owns 760,086 shares of the real estate investment trust’s stock valued at $3,633,000 after purchasing an additional 720,549 shares during the period. Davis Selected Advisers raised its holdings in shares of Hudson Pacific Properties by 78.0% in the 2nd quarter. Davis Selected Advisers now owns 1,224,493 shares of the real estate investment trust’s stock valued at $5,890,000 after purchasing an additional 536,540 shares during the period. Finally, Kennedy Capital Management LLC raised its holdings in shares of Hudson Pacific Properties by 50.6% in the 1st quarter. Kennedy Capital Management LLC now owns 1,240,292 shares of the real estate investment trust’s stock valued at $8,000,000 after purchasing an additional 416,591 shares during the period. 97.58% of the stock is owned by institutional investors.

Hudson Pacific Properties Stock Performance

Shares of NYSE:HPP opened at $3.68 on Friday. The company’s 50 day moving average price is $4.60 and its two-hundred day moving average price is $4.95. Hudson Pacific Properties, Inc. has a 12-month low of $3.66 and a 12-month high of $9.85. The firm has a market cap of $519.73 million, a PE ratio of -1.76 and a beta of 1.31. The company has a quick ratio of 1.47, a current ratio of 1.26 and a debt-to-equity ratio of 1.47.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Bank of America dropped their target price on shares of Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a report on Thursday, August 22nd. Piper Sandler dropped their target price on shares of Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating on the stock in a report on Friday. Wolfe Research cut shares of Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a report on Wednesday, August 14th. 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 report on Monday, August 26th. Finally, Jefferies Financial Group cut shares of Hudson Pacific Properties from a “buy” rating to a “hold” rating and lowered their price target for the company from $5.50 to $5.00 in a report on Tuesday. Two investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.17.

Insiders Place Their Bets

In related news, Director Jonathan M. Glaser sold 9,287 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $5.20, for a total transaction of $48,292.40. Following the sale, the director now owns 3,713 shares in the company, valued at approximately $19,307.60. This trade represents a 71.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Andy Wattula sold 9,356 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $5.28, for a total transaction of $49,399.68. Following the sale, the chief operating officer now owns 61,068 shares in the company, valued at $322,439.04. This represents a 13.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.95% of the company’s stock.

Hudson Pacific Properties 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.