Principal Financial Group Inc. Sells 124,502 Shares of Hudson Pacific Properties, Inc. $HPP

Key Points

• Principal Financial Group reduced its Hudson Pacific Properties stake by 5.6% in the first quarter, selling 124,502 shares and leaving it with 2,092,995 shares valued at about $12.37 million.
• Institutional ownership remains very high, with 97.58% of Hudson Pacific Properties held by institutions and hedge funds. Several large investors significantly increased their positions, including Balyasny Asset Management, Conversant Capital, and UBS Group.
• Analysts are mostly cautious on HPP: the stock has a consensus Hold rating with an average price target of $14.32, though some firms recently raised targets and BTIG Research maintained a buy rating.

Principal Financial Group Inc. cut its holdings in Hudson Pacific Properties, Inc. (NYSE:HPP - Free Report) by 5.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,092,995 shares of the real estate investment trust's stock after selling 124,502 shares during the period. Principal Financial Group Inc. owned approximately 3.86% of Hudson Pacific Properties worth $12,369,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Balyasny Asset Management L.P. increased its holdings in 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 purchasing an additional 8,646,463 shares in the last quarter. Conversant Capital LLC boosted its holdings in shares of 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 worth $29,318,000 after buying an additional 7,981,580 shares in the last quarter. Sei Investments Co. grew its position in shares of 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 worth $15,266,000 after buying an additional 5,541,478 shares during the period. UBS Group AG increased its stake in shares of Hudson Pacific Properties by 657.0% in the 3rd quarter. UBS Group AG now owns 5,617,697 shares of the real estate investment trust's stock valued at $15,505,000 after acquiring an additional 4,875,549 shares in the last quarter. Finally, Rush Island Management LP bought a new position in Hudson Pacific Properties during the second quarter worth $12,409,000. 97.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on HPP shares. Morgan Stanley set a $9.00 price objective on shares of Hudson Pacific Properties and gave the stock an "underweight" rating in a research report on Wednesday. Piper Sandler upped their price target on Hudson Pacific Properties from $12.00 to $16.00 and gave the stock a "neutral" rating in a research note on Tuesday. The Goldman Sachs Group reiterated a "neutral" rating and issued a $12.00 price target (up from $7.50) on shares of Hudson Pacific Properties in a report on Tuesday, May 19th. BTIG Research reissued a "buy" rating and issued a $26.00 price objective on shares of Hudson Pacific Properties in a research note on Wednesday, May 6th. Finally, Mizuho boosted their price objective on Hudson Pacific Properties from $15.00 to $17.00 and gave the company a "neutral" rating in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Hudson Pacific Properties currently has a consensus rating of "Hold" and an average price target of $14.32.

Hudson Pacific Properties Trading Up 2.5%

NYSE:HPP opened at $15.24 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.65 and a quick ratio of 1.65. Hudson Pacific Properties, Inc. has a one year low of $5.26 and a one year high of $21.70. The company has a market cap of $826.89 million, a PE ratio of -1.51, a PEG ratio of 1.11 and a beta of 1.89. The firm has a 50-day moving average of $14.26 and a 200-day moving average of $10.12.

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

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.

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