Wolverine Asset Management LLC Boosts Stake in Hudson Pacific Properties, Inc. (NYSE:HPP)

Wolverine Asset Management LLC increased its stake in Hudson Pacific Properties, Inc. (NYSE:HPP) by 6.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 404,949 shares of the real estate investment trust’s stock after acquiring an additional 24,235 shares during the period. Wolverine Asset Management LLC owned about 0.29% of Hudson Pacific Properties worth $1,948,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in shares of Hudson Pacific Properties by 3.5% in the 2nd 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 purchasing an additional 43,728 shares in the last quarter. Silver Lake Advisory LLC bought a new stake in Hudson Pacific Properties in the 2nd quarter worth approximately $145,000. Key Client Fiduciary Advisors LLC purchased a new stake in Hudson Pacific Properties in the second quarter worth approximately $53,000. M&G Plc bought a new position in Hudson Pacific Properties during the second quarter valued at approximately $169,000. Finally, Westwood Holdings Group Inc. purchased a new position in shares of Hudson Pacific Properties during the first quarter worth approximately $258,000. Institutional investors own 97.58% of the company’s stock.

Hudson Pacific Properties Price Performance

Shares of Hudson Pacific Properties stock opened at $5.02 on Wednesday. The company has a market cap of $708.55 million, a PE ratio of -3.14, a P/E/G ratio of 0.90 and a beta of 1.32. The business has a 50 day moving average of $5.20 and a 200 day moving average of $5.57. Hudson Pacific Properties, Inc. has a 52 week low of $4.26 and a 52 week high of $9.85. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 1.41.

Hudson Pacific Properties (NYSE:HPP) last posted its earnings results on Wednesday, August 7th. The real estate investment trust reported ($0.33) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.50). Hudson Pacific Properties had a negative return on equity of 7.41% and a negative net margin of 25.42%. The company had revenue of $218.00 million during the quarter, compared to analysts’ expectations of $216.08 million. During the same period in the prior year, the business posted $0.24 earnings per share. The company’s revenue for the quarter was down 11.1% on a year-over-year basis. As a group, equities research analysts forecast that Hudson Pacific Properties, Inc. will post 0.62 earnings per share for the current year.

Analysts Set New Price Targets

HPP has been the subject of a number of research reports. Scotiabank cut their price objective on shares of Hudson Pacific Properties from $7.00 to $6.00 and set a “sector perform” rating for the company in a research note on Monday, August 26th. BMO Capital Markets lowered shares of Hudson Pacific Properties from an “outperform” rating to a “market perform” rating and cut their price target for the company from $8.00 to $6.00 in a research report on Thursday, August 8th. Morgan Stanley downgraded Hudson Pacific Properties from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $6.00 to $4.25 in a report on Wednesday, July 10th. Bank of America dropped their target price on Hudson Pacific Properties from $4.50 to $4.00 and set an “underperform” rating for the company in a report on Thursday, August 22nd. Finally, Wolfe Research cut Hudson Pacific Properties from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, August 14th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $7.17.

About Hudson Pacific Properties

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.