Hudson Pac Pptys Inc Stock Price, News & Analysis

Hudson Pacific Properties announced a 12.2% increase in total revenue for Q4 2022, reaching $269.9 million, but reported a net loss of $12.0 million, or $0.09 per diluted share. Highlights include leasing over 2.1 million square feet with positive rent spreads and a strong balance sheet supported by asset sales and refinancings. The company has $1 billion in liquidity and plans to focus on capital management for its ongoing projects. For 2023, it projects FFO per share between $1.77 to $1.87. Despite positive leasing activities, there are risks posed by potential studio operation disruptions due to union negotiations.

Hudson Pacific Properties (NYSE: HPP) has announced the tax treatment of its 2022 dividends for both common and preferred stock. Common stock dividends of $0.25 per share were declared on five occasions during 2022, with total ordinary dividends amounting to $1.00 per share. For preferred stock, a total distribution of $1.335938 per share was reported across four distributions. All ordinary dividends are eligible for the Section 199A benefit as stipulated in the Tax Cuts and Jobs Act. These distributions aim to provide sustained returns to shareholders amidst ongoing investments in tech and media real estate.

Hudson Pacific Properties (NYSE: HPP) will release its fourth quarter financial results on February 8, 2023, after market close. A conference call for discussion will follow on February 9, 2023, at 11:00 a.m. PT / 2:00 p.m. ET. Interested parties can join via telephone or listen to the webcast on the company’s website. The company specializes in real estate solutions for tech and media clients, focusing on creating sustainable office and studio spaces.

Hudson Pacific Properties (NYSE: HPP) has declared a $0.25 per share dividend for Q4 2022, leading to an annual rate of $1.00. Additionally, its 4.750% Series C cumulative preferred stock will receive a dividend of $0.296875 per share, yearly totaling $1.18750. Both dividends are set for payment on December 29, 2022, to shareholders on record by December 19, 2022. The company focuses on real estate solutions for tech and media tenants, leveraging a comprehensive platform for property development.

Hudson Pacific Properties (NYSE: HPP) reported Q3 2022 results, revealing a 14.4% revenue increase to $260.4 million. However, the company recorded a net loss of $17.3 million, or $0.12 per diluted share. The firm executed 65 leases covering 381,364 square feet, achieving positive rent spreads of 8.7% GAAP and 3.4% cash. With $951.7 million in liquidity and a focus on tech and media tenants, the company narrows its 2022 FFO guidance to $2.01 - $2.05 per share. The company also achieved a top ranking in ESG assessments.

Hudson Pacific Properties (NYSE: HPP) has appointed Andy Wattula as Chief Operating Officer and Drew Gordon as Chief Investment Officer. Both executives have extensive experience within the company, enhancing leadership in operations and investment. Wattula, who joined in 2017, will manage the office portfolio, while Gordon, with Hudson Pacific since 2011, will oversee acquisitions and dispositions. These changes aim to streamline decision-making and leverage their expertise for long-term value creation.

Hudson Pacific Properties, Inc. (NYSE: HPP) will release its third quarter financial results on November 2, 2022, after market close, followed by a conference call on November 3, 2022, at 11:00 a.m. PT. The call can be accessed by dialing (833) 470-1428, with international callers using (404) 975-4839. Hudson Pacific specializes in real estate solutions for tech and media tenants, leveraging strategic relationships and expertise in property development.