Bank of America Corp DE Boosts Stake in Hudson Pacific Properties, Inc. (NYSE:HPP)

Bank of America Corp DE raised its stake in shares of Hudson Pacific Properties, Inc. (NYSE:HPP - Free Report) by 113.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,129,267 shares of the real estate investment trust's stock after acquiring an additional 601,074 shares during the period. Bank of America Corp DE owned about 0.80% of Hudson Pacific Properties worth $3,422,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Marshall Wace LLP grew its holdings in shares of 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 in the last quarter. Davis Selected Advisers boosted its position in Hudson Pacific Properties by 88.0% in the fourth quarter. Davis Selected Advisers now owns 2,280,963 shares of the real estate investment trust's stock worth $6,911,000 after purchasing an additional 1,067,940 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Hudson Pacific Properties by 257.1% in the 4th quarter. JPMorgan Chase & Co. now owns 1,322,827 shares of the real estate investment trust's stock valued at $4,008,000 after purchasing an additional 952,393 shares during the period. Algert Global LLC increased its position in shares of Hudson Pacific Properties by 124.3% during the 4th quarter. Algert Global LLC now owns 1,190,859 shares of the real estate investment trust's stock valued at $3,608,000 after purchasing an additional 659,898 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Hudson Pacific Properties by 82.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,413,993 shares of the real estate investment trust's stock worth $4,284,000 after purchasing an additional 640,445 shares during the period. 97.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HPP has been the subject of several research reports. Wells Fargo & Company reduced their price target on shares of Hudson Pacific Properties from $4.00 to $3.40 and set an "overweight" rating for the company in a research report on Monday, May 19th. The Goldman Sachs Group reduced their target price on shares of Hudson Pacific Properties from $3.40 to $2.30 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. BTIG Research set a $8.00 price target on shares of Hudson Pacific Properties and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Wedbush reiterated a "neutral" rating on shares of Hudson Pacific Properties in a research note on Monday, May 5th. Finally, BMO Capital Markets upgraded Hudson Pacific Properties from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $4.00 to $5.00 in a research note on Friday, March 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $3.52.

Hudson Pacific Properties Price Performance

HPP traded up $0.04 during trading on Wednesday, reaching $2.01. 514,645 shares of the company were exchanged, compared to its average volume of 2,882,416. Hudson Pacific Properties, Inc. has a 12-month low of $1.78 and a 12-month high of $6.29. The company's 50-day moving average is $2.23 and its two-hundred day moving average is $2.79. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 1.47. The company has a market cap of $283.49 million, a price-to-earnings ratio of -0.78 and a beta of 1.48.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.09. The firm had revenue of $198.46 million for the quarter, compared to the consensus estimate of $199.95 million. Hudson Pacific Properties had a negative net margin of 44.01% and a negative return on equity of 12.64%. Research analysts forecast that Hudson Pacific Properties, Inc. will post 0.45 earnings per share for the current fiscal year.

Hudson Pacific Properties Company Profile

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.