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Spirit of America Management Corp NY Increases Stock Holdings in Hudson Pacific Properties, Inc. (NYSE:HPP)

Financial News Live · Sep 28, 2022 13:32

Spirit of America Management Corp NY raised its stake in Hudson Pacific Properties, Inc. (NYSE:HPP – Get Rating) by 7.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,250 shares of the real estate investment trust's stock after purchasing an additional 2,200 shares during the period. Spirit of America Management Corp NY's holdings in Hudson Pacific Properties were worth $464,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Schroder Investment Management Group boosted its holdings in shares of Hudson Pacific Properties by 31.4% in the fourth quarter. Schroder Investment Management Group now owns 9,397 shares of the real estate investment trust's stock valued at $232,000 after acquiring an additional 2,245 shares during the period. Gotham Asset Management LLC acquired a new stake in shares of Hudson Pacific Properties in the fourth quarter valued at approximately $335,000. Wolverine Trading LLC boosted its holdings in shares of Hudson Pacific Properties by 13.8% in the fourth quarter. Wolverine Trading LLC now owns 13,017 shares of the real estate investment trust's stock valued at $323,000 after acquiring an additional 1,580 shares during the period. Nissay Asset Management Corp Japan ADV lifted its holdings in shares of Hudson Pacific Properties by 5.6% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 16,113 shares of the real estate investment trust's stock worth $398,000 after purchasing an additional 852 shares during the period. Finally, ETF Managers Group LLC lifted its holdings in shares of Hudson Pacific Properties by 5.0% during the fourth quarter. ETF Managers Group LLC now owns 25,505 shares of the real estate investment trust's stock worth $633,000 after purchasing an additional 1,212 shares during the period. 97.54% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In other Hudson Pacific Properties news, Director Mark David Linehan bought 7,500 shares of Hudson Pacific Properties stock in a transaction dated Friday, September 23rd. The stock was bought at an average price of $11.67 per share, for a total transaction of $87,525.00. Following the completion of the acquisition, the director now directly owns 60,687 shares of the company's stock, valued at $708,217.29. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Mark David Linehan acquired 7,500 shares of the business's stock in a transaction that occurred on Friday, September 23rd. The stock was acquired at an average cost of $11.67 per share, for a total transaction of $87,525.00. Following the completion of the acquisition, the director now owns 60,687 shares in the company, valued at $708,217.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jonathan M. Glaser acquired 20,000 shares of the business's stock in a transaction that occurred on Tuesday, September 20th. The shares were purchased at an average price of $12.28 per share, with a total value of $245,600.00. Following the completion of the acquisition, the director now owns 21,500 shares of the company's stock, valued at approximately $264,020. The disclosure for this purchase can be found here. Insiders acquired 29,583 shares of company stock worth $357,704 over the last quarter. Corporate insiders own 3.06% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Credit Suisse Group assumed coverage on Hudson Pacific Properties in a research report on Wednesday, June 22nd. They issued an "underperform" rating and a $16.00 price target for the company. Bank of America cut Hudson Pacific Properties from a "buy" rating to a "neutral" rating and dropped their price target for the company from $25.00 to $20.00 in a research report on Wednesday, June 22nd. Jefferies Financial Group decreased their price target on shares of Hudson Pacific Properties from $28.00 to $16.00 and set a "hold" rating on the stock in a research note on Thursday, June 30th. Morgan Stanley raised shares of Hudson Pacific Properties from an "underweight" rating to an "equal weight" rating and set a $13.00 price objective on the stock in a research note on Friday, September 9th. They noted that the move was a valuation call. Finally, Mizuho reduced their price objective on shares of Hudson Pacific Properties from $15.00 to $14.00 and set an "underperform" rating on the stock in a research note on Wednesday, August 24th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $19.42.

Hudson Pacific Properties Trading Up 7.3 %

Shares of NYSE:HPP traded up $0.78 on Wednesday, reaching $11.53. 78,731 shares of the company traded hands, compared to its average volume of 4,320,075. Hudson Pacific Properties, Inc. has a fifty-two week low of $10.69 and a fifty-two week high of $28.66. The company's 50 day moving average is $13.83 and its 200-day moving average is $18.63. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.91 and a quick ratio of 1.91.

Hudson Pacific Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Monday, September 19th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, September 16th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.67%. Hudson Pacific Properties's payout ratio is currently -526.32%.

Hudson Pacific Properties Profile

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Hudson Pacific is a real estate investment trust with a portfolio of office and studio properties totaling nearly 19 million square feet, including land for development. Focused on premier West Coast epicenters of innovation, media and technology, its anchor tenants include Fortune 500 and leading growth companies such as Netflix, Google, Square, Uber, NFL Enterprises and more.