Pensionfund Sabic Trims Position in Hudson Pacific Properties Inc (HPP)

Pensionfund Sabic reduced its position in Hudson Pacific Properties Inc (NYSE:HPP) by 7.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,500 shares of the real estate investment trust’s stock after selling 2,000 shares during the quarter. Pensionfund Sabic’s holdings in Hudson Pacific Properties were worth $809,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Utah Retirement Systems lifted its position in Hudson Pacific Properties by 1.9% in the fourth quarter. Utah Retirement Systems now owns 32,965 shares of the real estate investment trust’s stock worth $958,000 after purchasing an additional 600 shares during the period. Eaton Vance Management lifted its position in Hudson Pacific Properties by 3.5% in the fourth quarter. Eaton Vance Management now owns 21,416 shares of the real estate investment trust’s stock worth $622,000 after purchasing an additional 728 shares during the period. Eagle Asset Management Inc. lifted its position in Hudson Pacific Properties by 0.6% in the fourth quarter. Eagle Asset Management Inc. now owns 136,509 shares of the real estate investment trust’s stock worth $3,966,000 after purchasing an additional 810 shares during the period. State of Alaska Department of Revenue lifted its position in Hudson Pacific Properties by 1.9% in the fourth quarter. State of Alaska Department of Revenue now owns 67,280 shares of the real estate investment trust’s stock worth $1,954,000 after purchasing an additional 1,227 shares during the period. Finally, Amalgamated Bank lifted its position in Hudson Pacific Properties by 4.5% in the fourth quarter. Amalgamated Bank now owns 29,450 shares of the real estate investment trust’s stock worth $856,000 after purchasing an additional 1,273 shares during the period.

A number of research analysts have issued reports on HPP shares. Zacks Investment Research raised Hudson Pacific Properties from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Thursday, February 7th. Sandler O’Neill raised Hudson Pacific Properties from a “hold” rating to a “buy” rating in a report on Friday, February 15th. Robert W. Baird raised Hudson Pacific Properties from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 8th. TheStreet raised Hudson Pacific Properties from a “c+” rating to a “b” rating in a report on Thursday, February 14th. Finally, Goldman Sachs Group raised Hudson Pacific Properties from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $37.00 to $40.00 in a report on Monday, March 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $38.29.

Shares of NYSE HPP opened at $34.31 on Tuesday. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of 18.45, a P/E/G ratio of 2.90 and a beta of 0.73. Hudson Pacific Properties Inc has a 52-week low of $27.12 and a 52-week high of $36.06. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.28 and a quick ratio of 1.28.

Hudson Pacific Properties (NYSE:HPP) last issued its quarterly earnings data on Thursday, February 14th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.39). The company had revenue of $198.43 million for the quarter, compared to the consensus estimate of $183.38 million. Hudson Pacific Properties had a net margin of 13.47% and a return on equity of 2.51%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 earnings per share. As a group, sell-side analysts predict that Hudson Pacific Properties Inc will post 2 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Monday, March 18th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, March 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.91%. Hudson Pacific Properties’s payout ratio is presently 53.76%.

TRADEMARK VIOLATION WARNING: This piece was published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this piece on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright laws. The legal version of this piece can be accessed at https://sportsperspectives.com/2019/04/02/pensionfund-sabic-trims-position-in-hudson-pacific-properties-inc-hpp.html.

About Hudson Pacific Properties

Hudson Pacific Properties is a visionary real estate investment trust that owns and operates more than 17 million square feet of marquee office and studio properties. Focused on premier West Coast epicenters of innovation, media and technology, its anchor tenants include Fortune 500 and leading growth companies such as Netflix, Google, Square, Uber, NFL Enterprises and more.

Featured Story: Options Trading – Understanding Strike Price

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

Receive News & Ratings for Hudson Pacific Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hudson Pacific Properties and related companies with MarketBeat.com's FREE daily email newsletter.