In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Hudson Pacific Properties Inc. (NYSE:HPP) reported that Vanguard Specialized Funds has picked up 9,881,236 of common stock as of 2017-02-13.
The acquisition brings the aggregate amount owned by Vanguard Specialized Funds to a total of 9,881,236 representing a 7.21% stake in the company.
For those not familiar with the company, 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. It operates in two segments: office properties, and media and entertainment properties. Its investment strategy is focused on high barrier-to-entry, in-fill locations with favorable, long-term supply demand characteristics in select markets, including Los Angeles, Orange County, San Diego, San Francisco, Silicon Valley and Seattle. Its portfolio includes office properties, comprising an aggregate of approximately 14.0 million square feet, and media and entertainment properties, comprising over 0.9 million square feet of sound-stage, office and supporting production facilities. It also owns undeveloped density rights for over 2.6 million square feet of future office space.
A glance at Hudson Pacific Properties Inc. (NYSE:HPP)’s key stats reveals a current market capitalization of 5.27 billion based on 146.19 million shares outstanding and a price at last close of $35.74 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-05-19, Glaser picked up 3,000 at a purchase price of $26.88. This brings their total holding to 3,000 as of the date of the filing.
On the sell side, the most recent transaction saw Hpp unload 345,053 shares at a sale price of $35.00. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Hudson Pacific Properties Inc. (NYSE:HPP) as things move forward to see if its progress aligns with these transactions.
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