BlackRock Inc. Buys New Shares in Hudson Pacific Properties, Inc. $HPP

Key Points

• BlackRock acquired 6.77 million shares of Hudson Pacific Properties during the second quarter, valued at approximately $102.8 million and representing a 12.48% stake.
• Institutional ownership remains very high at 97.58%, while Director Jon E. Bortz purchased 25,000 shares for $335,000, increasing his position by 240.5%.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $15.57. HPP recently reported a larger-than-expected quarterly loss of $1.62 per share, despite revenue exceeding estimates.

BlackRock Inc. bought a new position in Hudson Pacific Properties, Inc. (NYSE:HPP - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 6,769,566 shares of the real estate investment trust's stock, valued at approximately $102,830,000. BlackRock Inc. owned 12.48% of Hudson Pacific Properties as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in HPP. Balyasny Asset Management L.P. increased its holdings in shares of Hudson Pacific Properties by 122.4% in the second quarter. Balyasny Asset Management L.P. now owns 15,712,981 shares of the real estate investment trust's stock worth $43,054,000 after buying an additional 8,646,463 shares during the period. Conversant Capital LLC boosted its holdings in Hudson Pacific Properties by 293.6% during the 2nd quarter. Conversant Capital LLC now owns 10,700,000 shares of the real estate investment trust's stock valued at $29,318,000 after acquiring an additional 7,981,580 shares during the period. Sei Investments Co. boosted its holdings in Hudson Pacific Properties by 18,343.2% during the 2nd quarter. Sei Investments Co. now owns 5,571,688 shares of the real estate investment trust's stock valued at $15,266,000 after acquiring an additional 5,541,478 shares during the period. UBS Group AG grew its position in Hudson Pacific Properties by 657.0% during the 3rd quarter. UBS Group AG now owns 5,617,697 shares of the real estate investment trust's stock worth $15,505,000 after acquiring an additional 4,875,549 shares during the last quarter. Finally, Rush Island Management LP bought a new position in Hudson Pacific Properties during the 2nd quarter worth approximately $12,409,000. 97.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hudson Pacific Properties

In related news, Director Jon E. Bortz purchased 25,000 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The shares were bought at an average price of $13.40 per share, for a total transaction of $335,000.00. Following the purchase, the director directly owned 35,394 shares of the company's stock, valued at approximately $474,279.60. This represents a 240.52% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.47% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on HPP shares. Piper Sandler upgraded Hudson Pacific Properties from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $16.00 to $18.00 in a research report on Thursday, August 6th. BTIG Research reiterated a "buy" rating and set a $26.00 price target on shares of Hudson Pacific Properties in a report on Wednesday, May 6th. BMO Capital Markets restated a "market perform" rating and issued a $16.00 price objective (up from $8.00) on shares of Hudson Pacific Properties in a research report on Monday, June 15th. Citigroup reaffirmed a "neutral" rating and set a $15.00 price objective (up from $13.00) on shares of Hudson Pacific Properties in a research note on Thursday, August 13th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $16.00 target price on shares of Hudson Pacific Properties in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $15.57.

Hudson Pacific Properties Trading Down 3.2%

Shares of NYSE HPP opened at $13.13 on Friday. Hudson Pacific Properties, Inc. has a 1 year low of $5.26 and a 1 year high of $21.70. The stock has a market cap of $712.57 million, a P/E ratio of -1.48, a price-to-earnings-growth ratio of 1.00 and a beta of 1.90. The firm has a 50-day moving average of $14.75 and a 200 day moving average of $10.96. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.11 and a quick ratio of 1.11.

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

Hudson Pacific Properties 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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