Alta Fundamental Advisers LLC Invests $5.62 Million in Hudson Pacific Properties, Inc. (NYSE:HPP)

Key Points

• Alta Fundamental Advisers LLC acquired 1,905,729 shares of Hudson Pacific Properties, valued at approximately $5.62 million, making it the fund's 11th biggest position.
• Institutional ownership of Hudson Pacific Properties stands at an impressive 97.58%, with significant recent stake increases from Balyasny Asset Management and Millennium Management.
• The stock's price has been downgraded by several analysts, with target prices ranging from $1.75 to $8.00, and a consensus rating currently at "Hold".

Alta Fundamental Advisers LLC purchased a new position in Hudson Pacific Properties, Inc. (NYSE:HPP - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,905,729 shares of the real estate investment trust's stock, valued at approximately $5,622,000. Hudson Pacific Properties makes up 3.6% of Alta Fundamental Advisers LLC's investment portfolio, making the stock its 11th largest holding. Alta Fundamental Advisers LLC owned approximately 1.35% of Hudson Pacific Properties at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HPP. Balyasny Asset Management L.P. increased its holdings in Hudson Pacific Properties by 265.5% in the 4th quarter. Balyasny Asset Management L.P. now owns 10,054,067 shares of the real estate investment trust's stock worth $30,464,000 after buying an additional 7,303,472 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Hudson Pacific Properties by 303.5% in the 4th quarter. Millennium Management LLC now owns 7,384,275 shares of the real estate investment trust's stock worth $22,374,000 after buying an additional 5,554,444 shares during the last quarter. Nuveen LLC bought a new position in Hudson Pacific Properties in the first quarter valued at about $10,333,000. Marshall Wace LLP lifted its holdings in Hudson Pacific Properties by 853.2% in the fourth quarter. Marshall Wace LLP now owns 1,844,926 shares of the real estate investment trust's stock valued at $5,590,000 after acquiring an additional 1,651,382 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its holdings in Hudson Pacific Properties by 95.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,605,516 shares of the real estate investment trust's stock valued at $7,895,000 after acquiring an additional 1,275,236 shares during the period. 97.58% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Hudson Pacific Properties

In related news, CEO Victor J. Coleman acquired 224,215 shares of the company's stock in a transaction on Thursday, June 12th. The stock was acquired at an average price of $2.23 per share, with a total value of $499,999.45. Following the acquisition, the chief executive officer directly owned 711,666 shares of the company's stock, valued at approximately $1,587,015.18. This trade represents a 46.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert L. Harris II bought 44,843 shares of Hudson Pacific Properties stock in a transaction dated Thursday, June 12th. The stock was acquired at an average price of $2.23 per share, for a total transaction of $99,999.89. Following the completion of the acquisition, the director owned 174,731 shares in the company, valued at approximately $389,650.13. The trade was a 34.52% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 1,139,007 shares of company stock worth $2,539,986. Insiders own 4.92% of the company's stock.

Hudson Pacific Properties Price Performance

NYSE:HPP traded up $0.09 on Thursday, reaching $2.71. 2,318,325 shares of the company's stock traded hands, compared to its average volume of 4,966,415. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 1.17. The stock has a 50-day simple moving average of $2.62 and a 200-day simple moving average of $2.60. The firm has a market cap of $1.03 billion, a PE ratio of -0.96 and a beta of 1.59. Hudson Pacific Properties, Inc. has a 12 month low of $1.78 and a 12 month high of $5.69.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The real estate investment trust reported $0.04 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. The business had revenue of $190.00 million for the quarter, compared to analysts' expectations of $196.27 million. Hudson Pacific Properties had a negative return on equity of 15.10% and a negative net margin of 53.76%. Equities research analysts forecast that Hudson Pacific Properties, Inc. will post 0.45 earnings per share for the current year.

Analyst Ratings Changes

HPP has been the topic of a number of recent research reports. Wells Fargo & Company lowered their target price on Hudson Pacific Properties from $4.00 to $3.40 and set an "overweight" rating on the stock in a report on Monday, May 19th. Odeon Capital Group initiated coverage on Hudson Pacific Properties in a report on Monday, June 16th. They issued a "buy" rating and a $5.00 target price on the stock. BTIG Research lowered their target price on Hudson Pacific Properties from $8.00 to $4.75 and set a "buy" rating on the stock in a report on Wednesday, June 25th. BMO Capital Markets lowered their target price on Hudson Pacific Properties from $4.00 to $3.50 and set an "outperform" rating on the stock in a report on Friday, June 13th. Finally, Wedbush reissued a "neutral" rating on shares of Hudson Pacific Properties in a report on Monday, May 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $3.22.

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.