Mechanics Bank Trust Department Makes New $60,000 Investment in Hudson Pacific Properties, Inc. (NYSE:HPP)

Mechanics Bank Trust Department purchased a new stake in Hudson Pacific Properties, Inc. (NYSE:HPP) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 19,926 shares of the real estate investment trust’s stock, valued at approximately $60,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in HPP. Anthracite Investment Company Inc. acquired a new stake in Hudson Pacific Properties in the third quarter valued at approximately $1,320,000. Green Alpha Advisors LLC boosted its holdings in shares of Hudson Pacific Properties by 77.7% during the 4th quarter. Green Alpha Advisors LLC now owns 521,592 shares of the real estate investment trust’s stock valued at $1,580,000 after acquiring an additional 228,079 shares in the last quarter. Wolverine Asset Management LLC grew its position in Hudson Pacific Properties by 42.3% during the 3rd quarter. Wolverine Asset Management LLC now owns 576,373 shares of the real estate investment trust’s stock worth $2,755,000 after acquiring an additional 171,424 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in Hudson Pacific Properties in the 3rd quarter worth about $1,332,000. Finally, Millennium Management LLC raised its position in Hudson Pacific Properties by 282.7% in the second quarter. Millennium Management LLC now owns 1,786,692 shares of the real estate investment trust’s stock valued at $8,594,000 after purchasing an additional 1,319,869 shares during the last quarter. 97.58% of the stock is owned by institutional investors.

Hudson Pacific Properties Stock Performance

Shares of HPP opened at $3.16 on Tuesday. Hudson Pacific Properties, Inc. has a one year low of $2.39 and a one year high of $9.25. The company has a market cap of $445.58 million, a PE ratio of -1.51 and a beta of 1.30. The stock has a 50-day moving average of $3.22 and a 200-day moving average of $4.34. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.26 and a quick ratio of 1.26.

Analysts Set New Price Targets

Several research firms have recently weighed in on HPP. Jefferies Financial Group reduced their price target on Hudson Pacific Properties from $3.70 to $3.00 and set a “hold” rating on the stock in a report on Thursday, January 2nd. Piper Sandler reduced their target price on shares of Hudson Pacific Properties from $5.00 to $4.50 and set a “neutral” rating on the stock in a report on Friday, November 15th. Finally, Mizuho dropped their price target on shares of Hudson Pacific Properties from $5.00 to $3.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.08.

Insider Buying and Selling at Hudson Pacific Properties

In other Hudson Pacific Properties news, CEO Victor J. Coleman purchased 50,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was acquired at an average price of $2.87 per share, for a total transaction of $143,500.00. Following the purchase, the chief executive officer now owns 487,451 shares of the company’s stock, valued at $1,398,984.37. This trade represents a 11.43 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.92% of the company’s stock.

About Hudson Pacific Properties

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.