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

Millennium Management LLC grew its stake in shares of Hudson Pacific Properties, Inc. (NYSE:HPP - Free Report) by 303.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,384,275 shares of the real estate investment trust's stock after buying 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 SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Balyasny Asset Management L.P. boosted its position in shares of Hudson Pacific Properties by 265.5% in the fourth quarter. Balyasny Asset Management L.P. now owns 10,054,067 shares of the real estate investment trust's stock worth $30,464,000 after buying an additional 7,303,472 shares during the period. Marshall Wace LLP raised its holdings in shares of Hudson Pacific Properties by 853.2% during the fourth quarter. Marshall Wace LLP now owns 1,844,926 shares of the real estate investment trust's stock worth $5,590,000 after purchasing an additional 1,651,382 shares during the period. D. E. Shaw & Co. Inc. boosted its stake in Hudson Pacific Properties by 95.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,605,516 shares of the real estate investment trust's stock valued at $7,895,000 after acquiring an additional 1,275,236 shares during the period. Davis Selected Advisers grew its stake in Hudson Pacific Properties by 88.0% during the 4th quarter. Davis Selected Advisers now owns 2,280,963 shares of the real estate investment trust's stock worth $6,911,000 after buying an additional 1,067,940 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of 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 worth $4,008,000 after acquiring an additional 952,393 shares during the period. 97.58% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. The Goldman Sachs Group lowered their target price on shares of Hudson Pacific Properties from $3.40 to $2.30 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. BMO Capital Markets upgraded Hudson Pacific Properties from a "market perform" rating to an "outperform" rating and increased their target price for the company from $4.00 to $5.00 in a report on Friday, March 28th. Morgan Stanley reiterated an "underweight" rating and issued a $1.75 price objective on shares of Hudson Pacific Properties in a research note on Tuesday, April 15th. Wedbush reiterated a "neutral" rating on shares of Hudson Pacific Properties in a report on Monday, May 5th. Finally, BTIG Research set a $8.00 target price on Hudson Pacific Properties and gave the company a "buy" rating in a report on Tuesday, May 6th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Hudson Pacific Properties presently has a consensus rating of "Hold" and a consensus target price of $3.57.

Hudson Pacific Properties Stock Performance

Shares of NYSE HPP opened at $1.99 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 1.47. The company has a market capitalization of $281.37 million, a P/E ratio of -0.77 and a beta of 1.48. Hudson Pacific Properties, Inc. has a 12 month low of $1.88 and a 12 month high of $6.29. The stock has a 50 day moving average of $2.43 and a 200-day moving average of $2.95.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The real estate investment trust reported $0.09 earnings per share for the quarter, meeting the consensus estimate 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 analysts' expectations of $199.95 million. As a group, equities research analysts predict that Hudson Pacific Properties, Inc. will post 0.45 EPS for the current year.

About Hudson Pacific Properties

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.

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