Hudson Pacific Properties, Inc. $HPP Shares Purchased by Saba Capital Management L.P.

Key Points

• Saba Capital Management increased its Hudson Pacific Properties stake by 49.8% in the first quarter, acquiring 276,459 additional shares and reaching 831,868 shares, or approximately 1.53% of the REIT.
• Institutional ownership remains very high at 97.58%, with several other investors also raising their positions during the quarter.
• HPP reported first-quarter revenue of $181.85 million and an adjusted loss of $0.82 per share, beating analysts’ estimates. Despite recent price-target increases, analysts maintain a consensus “Hold” rating with a $14.32 target, below the stock’s $14.66 opening price.

Saba Capital Management L.P. boosted its stake in Hudson Pacific Properties, Inc. (NYSE:HPP - Free Report) by 49.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 831,868 shares of the real estate investment trust's stock after acquiring an additional 276,459 shares during the period. Saba Capital Management L.P. owned about 1.53% of Hudson Pacific Properties worth $4,916,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Whitebox Advisors LLC lifted its holdings in shares of Hudson Pacific Properties by 1,618.4% in the 1st quarter. Whitebox Advisors LLC now owns 189,080 shares of the real estate investment trust's stock valued at $1,117,000 after purchasing an additional 178,077 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Hudson Pacific Properties in the 1st quarter valued at about $208,000. Sei Investments Co. grew its stake in Hudson Pacific Properties by 2.0% during the 1st quarter. Sei Investments Co. now owns 301,353 shares of the real estate investment trust's stock worth $1,781,000 after buying an additional 6,049 shares during the last quarter. State of Wyoming grew its stake in Hudson Pacific Properties by 22.5% during the 1st quarter. State of Wyoming now owns 30,214 shares of the real estate investment trust's stock worth $179,000 after buying an additional 5,543 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in Hudson Pacific Properties by 18.0% during the first quarter. Cetera Investment Advisers now owns 16,317 shares of the real estate investment trust's stock worth $96,000 after buying an additional 2,485 shares during the period. Institutional investors and hedge funds own 97.58% of the company's stock.

Hudson Pacific Properties Stock Performance

Shares of HPP stock opened at $14.66 on Tuesday. The stock's 50-day moving average price is $14.33 and its 200 day moving average price is $10.14. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $795.16 million, a PE ratio of -1.45, a price-to-earnings-growth ratio of 1.14 and a beta of 1.89. Hudson Pacific Properties, Inc. has a 52-week low of $5.26 and a 52-week high of $21.70.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported ($0.82) earnings per share for the quarter, topping analysts' consensus estimates of ($0.92) by $0.10. Hudson Pacific Properties had a negative return on equity of 19.05% and a negative net margin of 67.89%.The company had revenue of $181.85 million during the quarter, compared to analysts' expectations of $175.12 million. Hudson Pacific Properties has set its FY 2026 guidance at 1.100-1.180 EPS. As a group, equities research analysts forecast that Hudson Pacific Properties, Inc. will post 1.14 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Bank of America reiterated an "underperform" rating and issued a $14.00 price objective on shares of Hudson Pacific Properties in a research note on Tuesday, June 16th. The Goldman Sachs Group restated a "neutral" rating and set a $12.00 target price (up from $7.50) on shares of Hudson Pacific Properties in a research report on Tuesday, May 19th. Citigroup reaffirmed a "neutral" rating and issued a $13.00 target price (up from $8.00) on shares of Hudson Pacific Properties in a report on Thursday, May 14th. Mizuho upped their price target on shares of Hudson Pacific Properties from $15.00 to $17.00 and gave the company a "neutral" rating in a research report on Tuesday, July 21st. Finally, Piper Sandler increased their price target on shares of Hudson Pacific Properties from $12.00 to $16.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 21st. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $14.32.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.