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Hudson Pacific Properties Inc - HPP STOCK NEWS

Welcome to our dedicated news page for Hudson Pacific Properties (Ticker: HPP), a resource for investors and traders seeking the latest updates and insights on Hudson Pacific Properties.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Hudson Pacific Properties's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Hudson Pacific Properties's position in the market.

Rhea-AI Summary
Hudson Pacific Properties, Inc. (NYSE: HPP) announced financial results for Q4 2023, highlighting 432,000 square feet of leasing activity, $889 million in dispositions, and top ESG honors. The company reported total revenue of $223.4 million, a net loss of $98.0 million, and FFO of $19.6 million. Leasing activity included 77 new and renewal leases totaling 431,980 square feet. The in-service office portfolio ended at 80.8% occupied. The company sold various properties, strengthening its balance sheet with $808.4 million in total liquidity. Hudson Pacific also provided its first quarter and full-year 2024 outlook, projecting FFO in the range of $0.15 to $0.19 and $1.00 to $1.10 per diluted share, respectively.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-16.54%
Tags
earnings
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Rhea-AI Summary
Hudson Pacific Properties, Inc. (NYSE: HPP) announced the tax treatment for its 2023 common stock and preferred stock dividends. The company's dividends related to its common stock and Series C preferred stock will be classified for United States federal income tax purposes. The common stock dividends will be $0.2500 on 3/30/2023 and $0.1250 on 6/30/2023, totaling $0.3750. The Series C preferred stock dividends will be $0.296875 on 3/30/2023, 6/30/2023, 9/29/2023, and 12/28/2023, totaling $1.187500. The Tax Cuts and Jobs Act enacted Section 199A that generally allows a deduction for non-corporate taxpayers equal to 20% of ordinary dividends distributed by a REIT. The aggregate 'One Year Amounts Disclosure' and 'Three Year Amounts Disclosure' are $0.066638 and $0.211019 per share, respectively. Unrecaptured Section 1250 gains are a subset of the total capital gain amount. These amounts reflect a distribution's composition of gains from the disposition of 'United States real property interests' under Section 897.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.97%
Tags
dividends
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Rhea-AI Summary
Hudson Pacific Properties, Inc. (NYSE: HPP) will release its fourth quarter financial results on February 12, 2024, and hold a conference call on February 13, 2024, to discuss the results.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.85%
Tags
earnings
Rhea-AI Summary
Hudson Pacific Properties, Inc. (NYSE: HPP) and Macerich (NYSE: MAC) announced the sale of One Westside and Westside Two in Los Angeles to the Regents of the University of California for $700 million. Hudson Pacific held a 75% interest and Macerich a 25% interest in the joint venture that owned the assets, which total approximately 687,000 square feet. The sale significantly bolsters Hudson Pacific's balance sheet, with no debt maturities until year-end 2025. Macerich also aims to maximize value for stakeholders and improve liquidity profile with the net proceeds. Hudson Pacific used net proceeds to repay amounts outstanding on its unsecured revolving credit facility, addressing debt maturities until December 2025 and strengthening compliance with unsecured revolving credit facility covenants.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.26%
Tags
none
-
Rhea-AI Summary
Hudson Pacific Properties, Inc. (NYSE: HPP) and Macerich (NYSE: MAC) announced the sale of One Westside and Westside Two in Los Angeles to the Regents of the University of California for $700 million. Hudson Pacific held a 75% interest and Macerich a 25% interest in the joint venture that owned the assets, which total approximately 687,000 square feet. The sale significantly bolsters Hudson Pacific's balance sheet, with no debt maturities until year-end 2025. Macerich also aims to maximize value for stakeholders and improve liquidity profile with the net proceeds. Hudson Pacific used net proceeds to repay amounts outstanding on its unsecured revolving credit facility, addressing debt maturities until December 2025 and strengthening compliance with unsecured revolving credit facility covenants.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.24%
Tags
none
-
Rhea-AI Summary
Hudson Pacific Properties, Inc. (NYSE: HPP) announces the amendment to its unsecured revolving credit facility, refining certain definitions and covenant calculations. The company closed on the amendment to temporarily extend its unsecured leverage and total leverage thresholds, refine definitions for assets, and expand the type of assets included in the unsecured leverage and unencumbered net operating income covenants. The company's compliance with the amended covenants as of September 30, 2023, reflects favorable performance, with a reduction of $100 million in aggregate commitments from lenders under the unsecured revolving credit facility.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.11%
Tags
none
Rhea-AI Summary
Hudson Pacific Properties, Inc. (NYSE: HPP) has declared a dividend for the fourth quarter of 2023 on its 4.750% Series C cumulative preferred stock. The dividend amounts to $0.296875 per share, with an annual rate of $1.18750 per share. It will be paid on December 28, 2023, to preferred stockholders of record on December 18, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.04%
Tags
dividends earnings
-
Rhea-AI Summary
Hudson Pacific Properties, Inc. (NYSE: HPP) appoints Michael Nash to its Board of Directors, succeeding outgoing member Richard Fried. Nash, Co-Founder and Chairman of Blackstone Real Estate Debt Strategies, brings extensive expertise in REITs and debt management. Chairman and CEO Victor Coleman expresses gratitude for Fried's service and welcomes Nash's return to the Board, highlighting his valuable qualifications for the company.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.07%
Tags
management
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Rhea-AI Summary
Hudson Pacific Properties, Inc. (NYSE: HPP) has been recognized as a leader in sustainability by GRESB, Nareit, ENERGY STAR, Newsweek, and S&P Global. The company achieved 100% carbon neutrality across all operations in 2020 and has a portfolio that is over 90% LEED, 70% ENERGY STAR, and 40% Fitwel certified. Hudson Pacific has been named a Regional Sector Leader in the Office, Americas peer group by GRESB for the third consecutive year and has achieved Green Star designation and the highest 5-star rating for the fifth consecutive year. Nareit selected Hudson Pacific for the 2023 Leader in the Light Award for the second consecutive year. The company also earned ENERGY STAR Partner of the Year and Sustained Excellence status for a fifth consecutive year. Additionally, Hudson Pacific was named one of Newsweek’s America’s Most Responsible Companies 2024 and included in S&P Global 2023 Sustainability Yearbook.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.12%
Tags
none
Rhea-AI Summary
Hudson Pacific Properties, Inc. (NYSE: HPP) has divested a land parcel in Silicon Valley and certain tranches of a loan secured by its Hollywood Media Portfolio, generating gross proceeds of $189.3 million. The company used the net proceeds to repay amounts outstanding on its unsecured revolving credit facility. The Chairman and CEO, Victor Coleman, highlighted the strong execution on the sales, further strengthening the balance sheet and improving covenant compliance with minimal impact to FFO.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
7.15%
Tags
none
Hudson Pacific Properties Inc

NYSE:HPP

HPP Rankings

HPP Stock Data

965.70M
137.22M
2.69%
112.27%
15.88%
Lessors of Nonresidential Buildings (except Miniwarehouses)
Real Estate and Rental and Leasing
Link
United States
Los Angeles

About HPP

hudson pacific properties (nyse: hpp) is a vertically-integrated real estate company focused on acquiring, repositioning, developing and operating high-quality office and state-of-the-art media and entertainment properties in select west coast markets. hpp invests across the risk-return spectrum, favoring opportunities where it can employ leasing, capital investment and management expertise to create additional value. founded in 2006 as hudson capital, the company went public in 2010, electing to be taxed as a real estate investment trust. through the years, hpp has strategically assembled a portfolio totaling approximately 17.3 million square feet, including land for development, in high-growth, high-barrier-to-entry submarkets throughout northern and southern california and the pacific northwest. the company is a leading provider of design-forward, next-generation workspaces for a variety of tenants, with a focus on fortune 500 and industry-leading growth companies, many in the techn