Hudson Pacific Properties, Inc. (HPP) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Hudson Pacific Properties, Inc. (NYSE:HPP) from a hold rating to a buy rating in a research report report published on Tuesday morning. They currently have $40.00 target price on the real estate investment trust’s stock.

According to Zacks, “Hudson Pacific Properties, Inc. is a full-service, vertically integrated real estate company focused on owning, operating and acquiring office properties and media and entertainment properties in select growth markets primarily in Northern and Southern California. These markets include Los Angeles, Orange County, San Diego, San Francisco, Silicon Valley and the East Bay. The Company is headquartered in Los Angeles, California. “

Other research analysts also recently issued research reports about the company. Mizuho upgraded Hudson Pacific Properties from a neutral rating to a buy rating in a research note on Monday, November 7th. BTIG Research reaffirmed a buy rating and set a $40.00 price target (up previously from $39.00) on shares of Hudson Pacific Properties in a research report on Saturday, January 7th. Wells Fargo & Company reaffirmed a hold rating and set a $34.50 price target on shares of Hudson Pacific Properties in a research report on Thursday, December 1st. Finally, Barclays PLC reaffirmed an overweight rating and set a $38.00 price target (down previously from $39.00) on shares of Hudson Pacific Properties in a research report on Monday, January 23rd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of $37.28.

Hudson Pacific Properties (NYSE:HPP) traded down 1.00% on Tuesday, reaching $35.50. The company’s stock had a trading volume of 807,379 shares. The stock’s 50 day moving average price is $35.24 and its 200 day moving average price is $33.76. Hudson Pacific Properties has a 52-week low of $23.28 and a 52-week high of $36.65. The firm’s market cap is $4.09 billion.

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In other Hudson Pacific Properties news, Director Richard B. Fried sold 1,165,918 shares of the firm’s stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $32.50, for a total value of $37,892,335.00. Following the sale, the director now owns 20,559 shares of the company’s stock, valued at approximately $668,167.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Real Estate Partner Blackstone sold 8,626,311 shares of the firm’s stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $35.00, for a total value of $301,920,885.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,958,151 shares of company stock worth $380,620,490 in the last three months. 13.35% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in HPP. FMR LLC raised its position in shares of Hudson Pacific Properties by 74.3% in the fourth quarter. FMR LLC now owns 10,482,000 shares of the real estate investment trust’s stock valued at $364,564,000 after buying an additional 4,468,463 shares during the period. Shinko Asset Management Co. Ltd. raised its position in shares of Hudson Pacific Properties by 63.0% in the third quarter. Shinko Asset Management Co. Ltd. now owns 3,739,772 shares of the real estate investment trust’s stock valued at $122,926,000 after buying an additional 1,444,781 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Hudson Pacific Properties by 18.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,675,735 shares of the real estate investment trust’s stock valued at $120,821,000 after buying an additional 565,917 shares during the period. State Street Corp raised its position in shares of Hudson Pacific Properties by 16.3% in the fourth quarter. State Street Corp now owns 3,650,193 shares of the real estate investment trust’s stock valued at $126,956,000 after buying an additional 512,857 shares during the period. Finally, BlackRock Fund Advisors raised its position in shares of Hudson Pacific Properties by 60.7% in the third quarter. BlackRock Fund Advisors now owns 3,042,392 shares of the real estate investment trust’s stock valued at $100,003,000 after buying an additional 1,148,866 shares during the period. 90.69% of the stock is currently owned by hedge funds and other institutional investors.

Hudson Pacific Properties Company Profile

Hudson Pacific Properties, Inc is a full-service, vertically integrated real estate investment trust (REIT). The Company is focused on owning, operating and acquiring office, and media and entertainment properties in select growth markets primarily in Northern and Southern California, and the Pacific Northwest.

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