Hudson Pac Pptys Inc Stock Price, News & Analysis

Hudson Pacific Properties (NYSE: HPP) reported Q2 2025 financial results, highlighting 1.2 million square feet of office leases signed in 1H25, including 558,000 sq ft in Q2. The company posted a net loss of $83.1 million ($0.41 per share) and FFO of -$11.2 million (-$0.05 per share). Key metrics include:

Total revenue decreased to $190.0 million from $218.0 million year-over-year, while same-store cash NOI declined to $87.1 million from $104.1 million. The company maintains strong liquidity of $1.0 billion, including $236.0 million in cash and $775.0 million in undrawn credit facility capacity. The in-service office portfolio ended at 75.1% occupied and 76.2% leased.

Management provided Q3 2025 FFO guidance of $0.01 to $0.05 per diluted share and reported significant progress in portfolio stabilization, particularly benefiting from AI investments in west coast markets.

Hudson Pacific Properties (NYSE: HPP), a real estate solutions provider for tech and media tenants, announced the reduction of its Board of Directors from 10 to 8 members. Directors Ebs Burnough and Christy Haubegger voluntarily resigned as part of the company's efforts to create a more efficient board structure.

CEO and Chairman Victor Coleman emphasized that the streamlined board maintains necessary experience while supporting ongoing corporate cost management initiatives. He also highlighted potential opportunities from California's increased film and TV production incentives and AI investment in the company's primary markets.

[ "Board size reduction from 10 to 8 members supports corporate cost management", "Company positioned to benefit from California's increased film and TV production incentives", "Portfolio locations positioned to benefit from AI investment" ]

Hudson Pacific Properties (NYSE: HPP), a provider of real estate solutions for tech and media tenants, has scheduled its second quarter 2025 financial results release for August 5, 2025, after market close. The company will host a conference call to discuss the results at 2:00 p.m. PT / 5:00 p.m. ET on the same day. Investors can access the live audio webcast through the Investors section of Hudson Pacific's website, with a replay available after the call.

Cohen & Steers (NYSE: CNS) has made a significant $300 million investment in Hudson Pacific Properties (NYSE: HPP) as part of HPP's $690 million balance sheet recapitalization effort. The investment represents 43% of the total offering, positioning CNS as a cornerstone investor. According to Jason Yablon, Executive VP and Head of Listed Real Estate at Cohen & Steers, the investment is strategic due to the anticipated recovery in the West Coast office market. The recapitalization aims to help HPP reduce debt, extend debt maturities, and capitalize on potential occupancy improvements in their high-quality portfolio.

Hudson Pacific Properties has announced the pricing of a public offering of 197,194,698 common stock shares at $2.23 per share and 71,863,597 pre-funded warrants at $2.22 per warrant. The offering is expected to generate approximately $575.6 million in net proceeds, which could increase to $662.0 million if underwriters exercise their 30-day option to purchase an additional 40,358,744 shares. The company plans to use the proceeds to repay borrowings under its revolving credit facility, other debt obligations, and general corporate purposes. The offering is expected to close around June 13, 2025, with BofA Securities, Wells Fargo Securities, and RBC Capital Markets serving as lead joint book-running managers.

Hudson Pacific Properties announced a $600 million public offering of common stock and pre-funded warrants, with an additional $90 million option for underwriters. Cohen & Steers Capital Management expressed interest in purchasing $300 million of the offering, though this is not a binding commitment. The company plans to use the net proceeds to repay borrowings under its revolving credit facility, other debt, and general corporate purposes. BofA Securities, Wells Fargo Securities, and RBC Capital Markets are serving as lead joint book-running managers for the offering. The offering's completion and terms are subject to market conditions.

Hudson Pacific Properties (NYSE: HPP), a real estate company specializing in solutions for tech and media tenants, has announced its Q2 2025 preferred stock dividend. The company's Board of Directors declared a dividend of $0.296875 per share on its 4.750% Series C cumulative preferred stock, which equates to an annual rate of $1.18750 per share. The dividend will be paid on June 30, 2025, to preferred stockholders of record as of June 20, 2025. This announcement represents a routine dividend declaration for the company's preferred stockholders.

Hudson Pacific Properties (NYSE: HPP) reported Q1 2025 financial results showing mixed performance. The company signed 630,000 square feet of leases, including a significant 232,000-square-foot lease with San Francisco. Financial metrics showed decline with total revenue at $198.5M vs $214.0M in Q1 2024, and net loss of $74.7M ($0.53/share) compared to $52.2M loss year-over-year. FFO decreased to $12.9M ($0.09/share) from $24.2M. The company maintained strong liquidity of $839M at quarter end. Office portfolio occupancy declined to 75.1% from 78.3%, while studio portfolio maintained 73.8% lease rate. HPP completed strategic asset sales and refinancing, with 98.9% of debt now fixed or capped at 4.9% average rate. Management provided Q2 FFO guidance of $0.03-0.07 per share.

Hudson Pacific Properties (NYSE: HPP) has completed a $475 million CMBS financing for six office properties across its west coast markets. The portfolio includes 11601 Wilshire, Element LA, 450 Alaskan, 5th & Bell, 275 Brannan and 1740 Technology.

The loan features a five-year term (two-year initial term plus three one-year extension options) with an interest rate of 376 basis points over one-month term SOFR. The proceeds were used to fully repay a $168 million Element LA secured loan and outstanding amounts on the company's unsecured revolving credit facility.

Following this CMBS loan and the sale of Foothill Research Center, HPP has approximately $815 million of liquidity, including $752 million credit facility capacity and $63 million cash. An additional $133 million is available under the Sunset Pier 94 Studios construction loan, with HPP's share being $34 million.