Farallon Capital Management Sells 3.51 Mln Shares of Hudson Pacific Properties Inc (HPP)

Farallon Capital Management, founded by Thomas Steyer, has reported reducing its exposure to Hudson Pacific Properties Inc (NYSE:HPP) to some 8.73 million shares, from over 12.23 million shares held previously. According to the filing with the SEC, the activist stake held by Farallon amasses 13% of the company’s common stock.

Thomas-Steyer-e1351513531594

According to a press release issued by Hudson Pacific Properties Inc (NYSE:HPP), the company has recently conducted a public offering, selling around 3.51 million shares held by Farallon Capital Management and its affiliates. The securities have disposed of at a price of around $23.03 per share.

Hudson Pacific Properties is a full-service real estate investment trust. For the previous quarter, the REIT reported funds from operations worth $15.6 million, equal to $0.26 per diluted share, up from $11.6 million ($0.23 per diluted share) posted for the same period of 2012. For the current year, Hudson Pacific Properties Inc (NYSE:HPP) said it expects FFO of $1.07 to $1.11 per diluted share. Hudson Pacific’s stock inched up around 5% since the beginning of the year.

Farallon is the largest shareholder of Hudson Pacific Properties Inc (NYSE:HPP), even following the decrease in its stake. Moreover, the fund is represented on the company’s board of directors by Richard B. Fried. D. E. Shaw‘s D E Shaw and Ken Griffin‘s Citadel Investment Group are two other shareholders, although, during the fourth quarter of last year, they both have significantly reduced their positions, by 44% and 64% over the quarter, respectively. D E Shaw’s stake contains around 120,700 shares, while Citadel’s position amasses some 39,900 shares.

Farallon Capital Management is a large fund, with around $4.83 billion in equity portfolio alone. The latest 13F filing shows that Farallon has the largest portion of its equity portfolio invested in Services stocks. Its most valuable holding is Time Warner Cable Inc (NYSE:TWC), in which the fund owns 2.43 million shares, worth $329.54 million. Aside from Hudson Pacific Properties Inc (NYSE:HPP), which is the second-largest position, Farallon also holds 2.84 million shares of American Tower Corp (NYSE:AMT), valued at $226.77 million.

Disclosure: none

Recommended Reading:

Farallon Capital Management Adds Sycamore Networks Inc. (SCMR) To Its Equity Portfolio

Tontine Asset Management Cuts Stakes in Westmoreland Coal Company (WLB) and Patrick Industries, Inc. (PATK)

Emanuel Friedman, EJF Capital Raise Exposure to Prudential Bancorp, Inc. (PBIP)

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

Top 6 Cities For The Ultra Rich to Live in Comfort

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!