Bank of New York Mellon Corp Acquires New Position in Hudson Pacific Properties, Inc. $HPP

Key Points

• Bank of New York Mellon acquired 240,940 shares of Hudson Pacific Properties in the second quarter, valued at approximately $3.66 million and representing about 0.44% of the REIT. Institutional investors collectively own 97.58% of the company.
• Analyst sentiment remains mixed, with an overall “Hold” consensus and an average price target of $15.82. Wells Fargo raised its target to $17, while Morgan Stanley maintained an underweight rating with a $9 target.
• Hudson Pacific reported a quarterly loss of $1.62 per share, missing estimates by $0.90, despite revenue of $188.3 million exceeding expectations. Director Jon Bortz separately purchased 25,000 shares at $13.40 per share.

Bank of New York Mellon Corp acquired a new stake in shares of Hudson Pacific Properties, Inc. (NYSE:HPP - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 240,940 shares of the real estate investment trust's stock, valued at approximately $3,660,000. Bank of New York Mellon Corp owned about 0.44% of Hudson Pacific Properties as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Evergreen Capital Management LLC purchased a new stake in shares of Hudson Pacific Properties during the 2nd quarter valued at approximately $28,000. Orion Porfolio Solutions LLC bought a new position in Hudson Pacific Properties in the 3rd quarter worth approximately $28,000. United Capital Financial Advisors LLC purchased a new position in Hudson Pacific Properties in the 3rd quarter valued at approximately $30,000. Integrated Wealth Concepts LLC purchased a new position in Hudson Pacific Properties in the 3rd quarter valued at approximately $32,000. Finally, Allied Private Wealth LLC bought a new stake in Hudson Pacific Properties during the 2nd quarter valued at $33,000. Institutional investors own 97.58% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $17.00 price target (up from $14.00) on shares of Hudson Pacific Properties in a report on Tuesday, September 1st. Weiss Ratings reiterated a "sell (d)" rating on shares of Hudson Pacific Properties in a research note on Wednesday, August 26th. Morgan Stanley set a $9.00 price objective on Hudson Pacific Properties and gave the stock an "underweight" rating in a report on Wednesday, July 22nd. Wall Street Zen downgraded Hudson Pacific Properties from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $16.00 target price on shares of Hudson Pacific Properties in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $15.82.

Insider Activity

In related news, Director Jon Bortz acquired 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The shares were bought 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 in the company, valued at approximately $474,279.60. This trade represents a 240.52% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.47% of the company's stock.

Hudson Pacific Properties Trading Up 0.2%

Shares of HPP stock opened at $12.63 on Monday. 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 52-week low of $5.26 and a 52-week high of $21.70. The company has a market capitalization of $685.43 million, a PE ratio of -1.43, a price-to-earnings-growth ratio of 1.17 and a beta of 1.89. The business's fifty day moving average is $14.57 and its 200 day moving average is $11.20.

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

Hudson Pacific Properties Company Profile

Hudson Pacific Properties NYSE: HPP is a self-managed real estate investment trust focused on the acquisition, development and management of high-quality office and studio properties. The company's portfolio spans strategic West Coast markets in the United States and key markets in Canada, providing space for technology, media and creative companies as well as major film and television producers. As an owner and operator of both traditional office buildings and specialized production facilities, Hudson Pacific seeks to deliver stable income through long-term leases and strategic property enhancements.

In its office segment, Hudson Pacific targets markets with strong job growth and limited supply, including Los Angeles, Silicon Valley, San Diego and Seattle, as well as Vancouver, British Columbia.

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