Millennium Management LLC Grows Stock Position in Hudson Pacific Properties, Inc. (NYSE:HPP)

Millennium Management LLC raised its position in shares of Hudson Pacific Properties, Inc. (NYSE:HPP - Free Report) by 303.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,384,275 shares of the real estate investment trust's stock after purchasing an additional 5,554,444 shares during the period. Millennium Management LLC owned 5.23% of Hudson Pacific Properties worth $22,374,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of HPP. GeoWealth Management LLC bought a new position in shares of Hudson Pacific Properties during the 4th quarter worth $27,000. Xponance Inc. purchased a new stake in Hudson Pacific Properties during the fourth quarter valued at about $30,000. Opinicus Capital Inc. bought a new position in Hudson Pacific Properties during the fourth quarter worth about $32,000. Cibc World Markets Corp purchased a new position in shares of Hudson Pacific Properties in the fourth quarter worth about $39,000. Finally, Boothbay Fund Management LLC purchased a new position in shares of Hudson Pacific Properties in the fourth quarter worth about $40,000. 97.58% of the stock is owned by hedge funds and other institutional investors.

Hudson Pacific Properties Price Performance

HPP traded down $0.04 on Monday, reaching $1.89. The company had a trading volume of 2,451,755 shares, compared to its average volume of 2,881,269. Hudson Pacific Properties, Inc. has a 52-week low of $1.81 and a 52-week high of $6.29. The company has a market cap of $266.52 million, a price-to-earnings ratio of -0.73 and a beta of 1.48. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.26 and a current ratio of 1.26. The business has a 50 day simple moving average of $2.35 and a 200 day simple moving average of $2.87.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on HPP shares. Morgan Stanley restated an "underweight" rating and set a $1.75 price target on shares of Hudson Pacific Properties in a research note on Tuesday, April 15th. Wedbush reaffirmed a "neutral" rating on shares of Hudson Pacific Properties in a report on Monday, May 5th. Wells Fargo & Company reduced their price target on 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 dropped their price objective on Hudson Pacific Properties from $3.40 to $2.30 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Finally, Jefferies Financial Group assumed coverage on Hudson Pacific Properties in a report on Monday, March 17th. They set a "hold" rating and a $2.70 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $3.52.

Hudson Pacific Properties 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.