BlackRock Fund Advisors has recently announced that it has increased stake in Hudson Pacific Properties Inc (NYSE:HPP) by 14.57%. After grabbing 21.57 million shares, the institutional investor is now in possession of 2.74 million shares of the Real Estate Company. The new investment brought the stake of investor firm to 15.31% having worth around $96.22 million. Moreover, Norges Bank Investment Management increased its share by 0.25 million to have a control over 10.41 million shares. And Alyeska Investment Group LP raised its holdings to 5.91 million shares by acquiring 5.97 million shares or 4.23% of the stake.
Hudson Pacific Properties Inc (HPP) concluded trading on 12/13/23 at a closing price of $8.09, with 5.13 million shares of worth about $41.48 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 68.54% during that period and on Wednesday the price saw a gain of about 11.74%. Currently the company’s common shares owned by public are about 141.05M shares, out of which, 137.08M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 13 analysts are covering the HPP stock and their offered price forecasts bring an average price target of $6.85. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $11.00 and could fall to a lowest price of $4.00. The stock’s current price level is -18.1% below of average price target set by the analysts, while a dip to estimated low would result in loss of -102.25% for the stock. However, touching the estimated high of $11.00 would mean a gain of 26.45% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 19 times over the past 12 months. They bought 298,245 shares in 15 of the transactions. In 4 selling transactions, insiders dumped 12,659 shares.
Government Pension Fund – Global, iShares Core S&P Small Cap ETF, and Vanguard Real Estate Index Fund are the top 3 mutual funds which are holding stakes in Hudson Pacific Properties Inc Government Pension Fund – Global is currently holding 10.41 million shares of worth totaling $46.41 million. The company recently came buying 1.25 million shares which brought its stake up to 7.38% of the company’s outstanding shares. iShares Core S&P Small Cap ETF sold 1572.0 shares, after which its hold over company’s outstanding shares shrunk to 6.06%, leaving 8.54 million shares with the mutual fund that have a worth of about $38.08 million. Vanguard Real Estate Index Fund, after selling 5.23 million shares, have now control over 3.71% of the stake in the company. It holds 22691.0 shares of worth $23.31 million.
Hudson Pacific Properties Inc (NYSE: HPP) started trading at $7.27, above $0.03 from concluding price of the previous day. Stock saw a price change of 11.59% in past 5 days and over the past one month there was a price change of 62.78%. Year-to-date (YTD), HPP shares are showing a performance of -16.86% which decreased to -21.46% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $4.05 but also hit the highest price of $12.23 during that period. The average intraday trading volume for Hudson Pacific Properties Inc shares is 3.81 million. The stock is currently trading 29.73% above its 20-day simple moving average (SMA20), while that difference is up 42.33% for SMA50 and it goes to 38.20% higher than SMA200.
BlackRock Fund Advisors acquired 21.57 million shares of Hudson Pacific Properties Inc having value of about $96.22 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 2.74 million shares in the company valued at close to $22195141.52, or have control over 14.57% stake in the company. Hudson Pacific Properties Inc (NYSE: HPP) currently have 141.05M outstanding shares and institutions hold larger chunk of about 120.23% of that. Holding of mutual funds in the company is about 67.93% while other institutional holders and individual stake holders have control over 9.77% and 52.50% of the stake respectively.
The stock has a current market capitalization of $1.14B and its 3Y-monthly beta is at 1.31. It has posted earnings per share of -$0.75 in the same period. It has a debt-to-equity ratio of 1.55. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for HPP, volatility over the week remained 6.99% while standing at 6.50% over the month.
Analysts are in expectations that Hudson Pacific Properties Inc (HPP) stock would likely to be making an EPS of -$0.36 in the current quarter, while forecast for next quarter EPS is -$0.42 and it is -$1 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.44 which is -$0.26 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.09 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -159.83% while it is estimated to increase by 0.99% in next year.
Analysts at 13 brokerage firms have issued recommendations for the Hudson Pacific Properties Inc (HPP)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.46. Out of those 13 Wall Street analysts, 4 recommended a “Buy” rating, while 8 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Goldman on November 30, 2023 offering a Neutral rating for the stock and assigned a target price range of between $5.50 and $6.25 to it.
