Synovus Financial Corp raised its holdings in shares of Hudson Pacific Properties Inc (NYSE:HPP) by 79.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,304 shares of the real estate investment trust’s stock after buying an additional 15,175 shares during the period. Synovus Financial Corp’s holdings in Hudson Pacific Properties were worth $1,149,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Public Employees Retirement Association of Colorado purchased a new stake in Hudson Pacific Properties during the second quarter valued at approximately $168,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Hudson Pacific Properties in the second quarter worth approximately $214,000. Advisors Asset Management Inc. boosted its position in shares of Hudson Pacific Properties by 33.2% in the second quarter. Advisors Asset Management Inc. now owns 8,980 shares of the real estate investment trust’s stock worth $307,000 after purchasing an additional 2,238 shares during the period. Ramsey Quantitative Systems bought a new position in shares of Hudson Pacific Properties in the second quarter worth approximately $310,000. Finally, Royal Bank of Canada boosted its position in shares of Hudson Pacific Properties by 60.7% in the second quarter. Royal Bank of Canada now owns 9,386 shares of the real estate investment trust’s stock worth $321,000 after purchasing an additional 3,544 shares during the period. 99.47% of the stock is owned by institutional investors and hedge funds.
Shares of Hudson Pacific Properties Inc (NYSE:HPP) traded up $0.04 on Friday, hitting $34.25. 697,131 shares of the stock traded hands, compared to its average volume of 938,002. Hudson Pacific Properties Inc has a 1-year low of $31.52 and a 1-year high of $36.75. The stock has a market capitalization of $5,350.00, a P/E ratio of 87.82, a P/E/G ratio of 2.88 and a beta of 0.78. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Monday, December 18th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.92%. The ex-dividend date was Friday, December 15th. Hudson Pacific Properties’s dividend payout ratio is presently 256.41%.
A number of equities analysts have weighed in on the stock. Goldman Sachs Group lowered shares of Hudson Pacific Properties from a “buy” rating to a “neutral” rating in a research report on Monday, November 20th. Zacks Investment Research upgraded shares of Hudson Pacific Properties from a “sell” rating to a “hold” rating in a research report on Monday, November 6th. KeyCorp reiterated a “buy” rating on shares of Hudson Pacific Properties in a research report on Tuesday, September 26th. Finally, Morgan Stanley lowered their price objective on shares of Hudson Pacific Properties from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Hudson Pacific Properties has an average rating of “Hold” and a consensus target price of $38.33.
In other Hudson Pacific Properties news, EVP Sanford Dale Shimoda sold 2,800 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $35.68, for a total transaction of $99,904.00. Following the transaction, the executive vice president now owns 83,072 shares of the company’s stock, valued at approximately $2,964,008.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard B. Fried sold 17,417 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $34.66, for a total transaction of $603,673.22. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.
About Hudson Pacific Properties
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.
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