Bank of America Corp DE Buys 338,247 Shares of Hudson Pacific Properties, Inc. $HPP

Key Points

• Bank of America acquired 338,247 Hudson Pacific Properties shares worth approximately $5.14 million, giving it a 0.62% stake. Institutional investors collectively own 97.58% of HPP.
• Director Jon Bortz purchased 25,000 shares for $335,000, increasing his holdings by roughly 241%; insiders now own 2.47% of the company.
• Analyst sentiment is mixed, with a consensus “Hold” rating and a $15.82 target price. HPP recently reported a significant quarterly EPS loss, though revenue exceeded estimates.

Bank of America Corp DE purchased a new position in shares of Hudson Pacific Properties, Inc. (NYSE:HPP - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 338,247 shares of the real estate investment trust's stock, valued at approximately $5,138,000. Bank of America Corp DE owned 0.62% of Hudson Pacific Properties as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in HPP. Allied Private Wealth LLC acquired a new stake in Hudson Pacific Properties during the 2nd quarter valued at approximately $33,000. Allworth Financial LP acquired a new position in Hudson Pacific Properties during the second quarter valued at $67,000. Legal & General Group Plc acquired a new position in Hudson Pacific Properties during the second quarter valued at $80,000. Sanctuary Advisors LLC boosted its holdings in Hudson Pacific Properties by 29.3% in the first quarter. Sanctuary Advisors LLC now owns 15,075 shares of the real estate investment trust's stock valued at $89,000 after purchasing an additional 3,414 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Hudson Pacific Properties by 18.0% in the first quarter. Cetera Investment Advisers now owns 16,317 shares of the real estate investment trust's stock valued at $96,000 after purchasing an additional 2,485 shares during the last quarter. Hedge funds and other institutional investors own 97.58% of the company's stock.

Insider Activity at Hudson Pacific Properties

In other news, Director Jon Bortz purchased 25,000 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was purchased at an average cost of $13.40 per share, for a total transaction of $335,000.00. Following the completion of the transaction, the director owned 35,394 shares of the company's stock, valued at $474,279.60. This trade represents a 240.52% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Zacks Research lowered Hudson Pacific Properties from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 8th. Mizuho upped their target price on Hudson Pacific Properties from $15.00 to $17.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 21st. Wall Street Zen lowered Hudson Pacific Properties from a "hold" rating to a "sell" rating in a report on Sunday, September 20th. Weiss Ratings reiterated a "sell (d)" rating on shares of Hudson Pacific Properties in a research report on Wednesday, August 26th. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $16.00 price target on shares of Hudson Pacific Properties in a report on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $15.82.

Hudson Pacific Properties Price Performance

Hudson Pacific Properties stock opened at $11.63 on Tuesday. The stock has a market capitalization of $630.94 million, a P/E ratio of -1.31, a P/E/G ratio of 1.08 and a beta of 1.89. The company's fifty day moving average price is $13.32 and its 200 day moving average price is $11.76. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.11 and a current ratio of 1.11. Hudson Pacific Properties, Inc. has a 1 year low of $5.26 and a 1 year high of $20.06.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) last announced its earnings results on Wednesday, August 5th. The real estate investment trust reported ($1.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.90). Hudson Pacific Properties had a negative net margin of 70.04% and a negative return on equity of 20.76%. The company had revenue of $188.30 million during the quarter, compared to analyst estimates of $181.80 million. Hudson Pacific Properties has set its FY 2026 guidance at 1.120-1.200 EPS. As a group, equities research analysts anticipate that Hudson Pacific Properties, Inc. will post 1.12 earnings per share for the current fiscal year.

Hudson Pacific Properties Company Profile

Hudson Pacific Properties, Inc NYSE: HPP is a real estate investment trust that owns, operates and develops office and studio properties. The company focuses on properties serving technology, media and entertainment tenants, with offerings that include creative office space, soundstages, production facilities and related studio infrastructure.

Hudson Pacific's portfolio is concentrated in major markets along the West Coast of the United States and in Vancouver, British Columbia. Its studio operations are conducted under the Sunset Studios brand and support film and television production through soundstages, production offices and other specialized facilities.

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