Saba Capital Management L.P. Raises Stock Holdings in Hudson Pacific Properties, Inc. (NYSE:HPP)

Saba Capital Management L.P. increased its stake in Hudson Pacific Properties, Inc. (NYSE:HPP - Free Report) by 105.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,790,762 shares of the real estate investment trust's stock after purchasing an additional 918,045 shares during the quarter. Saba Capital Management L.P. owned about 1.27% of Hudson Pacific Properties worth $5,426,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Union Bancaire Privee UBP SA purchased a new position in Hudson Pacific Properties during the 4th quarter valued at about $436,000. Brown University bought a new position in shares of Hudson Pacific Properties in the fourth quarter valued at approximately $1,832,000. Helix Partners Management LP purchased a new position in Hudson Pacific Properties during the fourth quarter valued at approximately $579,000. Sanctuary Advisors LLC bought a new stake in Hudson Pacific Properties during the 4th quarter worth approximately $45,000. Finally, Renaissance Technologies LLC lifted its stake in Hudson Pacific Properties by 9.2% in the 4th quarter. Renaissance Technologies LLC now owns 1,390,009 shares of the real estate investment trust's stock worth $4,212,000 after purchasing an additional 117,600 shares in the last quarter. 97.58% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HPP has been the topic of several recent analyst reports. Wedbush reaffirmed a "neutral" rating on shares of Hudson Pacific Properties in a report on Monday, May 5th. Morgan Stanley reiterated an "underweight" rating and set a $1.75 target price on shares of Hudson Pacific Properties in a research report on Tuesday, April 15th. The Goldman Sachs Group decreased their price target on shares of Hudson Pacific Properties from $3.40 to $2.30 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. BMO Capital Markets upgraded shares of Hudson Pacific Properties from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $4.00 to $5.00 in a research report on Friday, March 28th. Finally, Wells Fargo & Company cut their target price 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. 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, Hudson Pacific Properties currently has an average rating of "Hold" and an average price target of $3.57.

Hudson Pacific Properties Trading Down 2.4%

Shares of Hudson Pacific Properties stock traded down $0.05 on Thursday, hitting $1.86. The stock had a trading volume of 907,905 shares, compared to its average volume of 2,868,400. Hudson Pacific Properties, Inc. has a one year low of $1.84 and a one year high of $6.29. The stock has a market cap of $262.28 million, a price-to-earnings ratio of -0.72 and a beta of 1.48. 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 stock's 50-day simple moving average is $2.42 and its two-hundred day simple moving average is $2.95.

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

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.