Balyasny Asset Management L.P. Grows Position in Hudson Pacific Properties, Inc. (NYSE:HPP)

Balyasny Asset Management L.P. boosted its position in Hudson Pacific Properties, Inc. (NYSE:HPP - Free Report) by 265.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 10,054,067 shares of the real estate investment trust's stock after acquiring an additional 7,303,472 shares during the period. Balyasny Asset Management L.P. owned 7.12% of Hudson Pacific Properties worth $30,464,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GeoWealth Management LLC bought a new stake in shares of Hudson Pacific Properties during the fourth quarter valued at about $27,000. Xponance Inc. bought a new stake in shares of Hudson Pacific Properties during the fourth quarter valued at about $30,000. Opinicus Capital Inc. bought a new stake in shares of Hudson Pacific Properties during the fourth quarter valued at about $32,000. Cibc World Markets Corp bought a new stake in shares of Hudson Pacific Properties during the fourth quarter valued at about $39,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of Hudson Pacific Properties during the fourth quarter valued at about $40,000. 97.58% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HPP. Wells Fargo & Company upgraded Hudson Pacific Properties from an "equal weight" rating to an "overweight" rating and set a $4.00 price target on the stock in a research report on Monday, March 10th. Jefferies Financial Group began coverage on Hudson Pacific Properties in a research report on Monday, March 17th. They set a "hold" rating and a $2.70 price target on the stock. BTIG Research set a $8.00 price target on Hudson Pacific Properties and gave the company a "buy" rating in a research report on Tuesday, May 6th. Scotiabank decreased their price objective on shares of Hudson Pacific Properties from $4.00 to $3.00 and set a "sector perform" rating on the stock in a research report on Tuesday, February 18th. Finally, Piper Sandler decreased their price objective on shares of Hudson Pacific Properties from $3.50 to $2.50 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $3.63.

Hudson Pacific Properties Price Performance

NYSE HPP traded up $0.10 on Monday, reaching $2.37. 779,623 shares of the company's stock traded hands, compared to its average volume of 2,850,886. Hudson Pacific Properties, Inc. has a 12 month low of $1.88 and a 12 month high of $6.29. 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 stock has a 50-day simple moving average of $2.54 and a 200 day simple moving average of $3.05. The stock has a market cap of $334.39 million, a PE ratio of -0.92 and a beta of 1.48.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The real estate investment trust reported $0.09 EPS for the quarter, meeting analysts' consensus estimates of $0.09. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. The business had revenue of $198.46 million for the quarter, compared to analysts' expectations of $199.95 million. As a group, research analysts predict that Hudson Pacific Properties, Inc. will post 0.45 earnings per share for the current year.

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.