Hudson Pacific Properties, Inc. (NYSE:HPP) Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. lowered its position in Hudson Pacific Properties, Inc. (NYSE:HPP) by 8.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 115,376 shares of the real estate investment trust’s stock after selling 10,537 shares during the period. Freedom Investment Management Inc. owned about 0.08% of Hudson Pacific Properties worth $551,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in HPP. Millennium Management LLC raised its stake in shares of Hudson Pacific Properties by 282.7% during the 2nd quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock worth $8,594,000 after buying an additional 1,319,869 shares in the last quarter. Scion Asset Management LLC purchased a new position in Hudson Pacific Properties in the second quarter worth $5,505,000. GSA Capital Partners LLP lifted its holdings in Hudson Pacific Properties by 1,822.5% in the third quarter. GSA Capital Partners LLP now owns 760,086 shares of the real estate investment trust’s stock valued at $3,633,000 after acquiring an additional 720,549 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings 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 valued at $24,902,000 after acquiring an additional 630,932 shares during the period. Finally, Davis Selected Advisers boosted its position in shares of Hudson Pacific Properties by 78.0% during the 2nd quarter. Davis Selected Advisers now owns 1,224,493 shares of the real estate investment trust’s stock worth $5,890,000 after purchasing an additional 536,540 shares in the last quarter. Hedge funds and other institutional investors own 97.58% of the company’s stock.

Insider Activity at Hudson Pacific Properties

In related news, COO Andy Wattula sold 9,356 shares of the company’s stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 61,068 shares in the company, valued at approximately $322,439.04. This represents a 13.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Victor J. Coleman bought 50,000 shares of Hudson Pacific Properties 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 transaction, the chief executive officer now directly owns 437,451 shares of the company’s stock, valued at $1,544,202.03. This trade represents a 12.90 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.95% of the company’s stock.

Hudson Pacific Properties Price Performance

Hudson Pacific Properties stock opened at $3.87 on Friday. The stock has a market capitalization of $545.86 million, a P/E ratio of -1.84 and a beta of 1.31. Hudson Pacific Properties, Inc. has a 12-month low of $3.01 and a 12-month high of $9.85. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26. The firm’s 50-day moving average is $4.33 and its two-hundred day moving average is $4.82.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on HPP shares. The Goldman Sachs Group cut their price target on shares of Hudson Pacific Properties from $6.50 to $4.70 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Piper Sandler dropped 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. Bank of America decreased their target price on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating on the stock in a research report on Thursday, August 22nd. BMO Capital Markets cut Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $8.00 to $6.00 in a research report on Thursday, August 8th. Finally, Jefferies Financial Group downgraded Hudson Pacific Properties from a “buy” rating to a “hold” rating and cut their price target for the stock from $5.50 to $5.00 in a research note on Tuesday, November 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $6.17.

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.