Bank of New York Mellon Corp Has $28.36 Million Position in Hudson Pacific Properties, Inc. (HPP)

Bank of New York Mellon Corp decreased its position in Hudson Pacific Properties, Inc. (NYSE:HPP) by 71.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 829,400 shares of the real estate investment trust’s stock after selling 2,075,791 shares during the period. Bank of New York Mellon Corp owned approximately 0.56% of Hudson Pacific Properties worth $28,357,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Teacher Retirement System of Texas boosted its stake in Hudson Pacific Properties by 1.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 12,333 shares of the real estate investment trust’s stock worth $422,000 after purchasing an additional 162 shares in the last quarter. Amalgamated Bank boosted its stake in Hudson Pacific Properties by 5.3% in the 1st quarter. Amalgamated Bank now owns 14,200 shares of the real estate investment trust’s stock worth $492,000 after purchasing an additional 716 shares in the last quarter. Profund Advisors LLC boosted its stake in Hudson Pacific Properties by 10.7% in the 1st quarter. Profund Advisors LLC now owns 8,933 shares of the real estate investment trust’s stock worth $309,000 after purchasing an additional 863 shares in the last quarter. Sprott Inc. boosted its stake in Hudson Pacific Properties by 11.9% in the 2nd quarter. Sprott Inc. now owns 9,145 shares of the real estate investment trust’s stock worth $313,000 after purchasing an additional 975 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its stake in Hudson Pacific Properties by 13.2% in the 1st quarter. Ameritas Investment Partners Inc. now owns 10,281 shares of the real estate investment trust’s stock worth $356,000 after purchasing an additional 1,200 shares in the last quarter.

In other news, Director Jonathan M. Glaser bought 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average price of $31.78 per share, with a total value of $476,700.00. Following the completion of the acquisition, the director now directly owns 132,405 shares of the company’s stock, valued at approximately $4,207,830.90. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jonathan M. Glaser bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were purchased at an average cost of $32.20 per share, with a total value of $161,000.00. Following the acquisition, the director now directly owns 132,405 shares of the company’s stock, valued at $4,263,441. The disclosure for this purchase can be found here. In the last three months, insiders acquired 25,000 shares of company stock valued at $797,600. Corporate insiders own 13.35% of the company’s stock.

A number of equities analysts recently issued reports on the stock. BidaskClub upgraded shares of Hudson Pacific Properties from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Barclays PLC upped their price target on shares of Hudson Pacific Properties from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 15th. KeyCorp reiterated a “buy” rating and issued a $39.00 price target on shares of Hudson Pacific Properties in a research note on Friday, August 25th. Finally, Morgan Stanley dropped their price target on shares of Hudson Pacific Properties from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $38.31.

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Hudson Pacific Properties, Inc. (NYSE HPP) opened at 32.27 on Tuesday. The company has a market cap of $5.01 billion, a PE ratio of 91.68 and a beta of 0.76. The firm’s 50-day moving average is $32.52 and its 200 day moving average is $33.77. Hudson Pacific Properties, Inc. has a 1-year low of $31.53 and a 1-year high of $36.75.

Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.01. The business had revenue of $166.85 million during the quarter, compared to the consensus estimate of $175.79 million. Hudson Pacific Properties had a return on equity of 1.37% and a net margin of 7.87%. The company’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the company earned $0.43 earnings per share. Analysts predict that Hudson Pacific Properties, Inc. will post $0.29 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.10%. The ex-dividend date of this dividend is Monday, September 18th. Hudson Pacific Properties’s dividend payout ratio is presently 277.78%.

Hudson Pacific Properties Profile

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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