HPP
Hudson Pacific Properties, Inc.11.54
-0.52-4.31%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Key Stats
Market Cap
5.11BP/E (TTM)
-Basic EPS (TTM)
-16.03Dividend Yield
0.06%Recent Filings
10-K
FY2025 results
Hudson Pacific Properties closed FY2025 ended December 31, 2025 with its in-service office portfolio at 77.0% leased across 13.2 million square feet, while studios averaged 67.1% leased over the year. NOI rose 4.0% to $403 million, buoyed by non-same-store gains from an Element LA termination fee, yet same-store office NOI fell 8.1% on lease exits at 1455 Market and Seattle assets. Q4 saw $247 million in impairments, mainly Quixote goodwill, driving net loss to $592 million. Debt hit $3.4 billion at 74.7% leverage with $795 million revolver capacity; common dividends remain suspended. Office tenants Google, Netflix, Amazon took 20.6% of rent. Tenant non-renewals threaten occupancy.
8-K
Q4 results, FFO outlook issued
Hudson Pacific reported Q4 2025 results with revenue up to $256M from a $81M lease termination fee on Element LA's $150M sale, yet posted a $278M net loss from Quixote impairment. Signed 518k sq ft leases; office occupancy hit 76.3%. Issued 2026 FFO outlook of $0.96-$1.06/share. Leasing momentum builds.
8-K
Bortz joins HPP board
Hudson Pacific Properties replaced board member Jonathan Glaser, who resigned after 15 years on December 2, 2025, to focus on other commitments, with no disagreements noted. Jon Bortz, founder and CEO of Pebblebrook Hotel Trust, joined immediately, taking Audit and Compensation Committee seats. Bortz's REIT expertise bolsters governance amid repositioning. Smooth transition underway.
8-K
1-for-7 reverse stock split
Hudson Pacific Properties executed a one-for-seven reverse stock split, effective 5:00 p.M. ET on December 1, 2025, slashing outstanding common shares from 379,521,855 to approximately 54,217,407. Par value dropped back to $0.01 per share; authorized shares cut to 121,600,000. Trading resumes split-adjusted on NYSE under HPP December 2. Fractions get cashed out—no ownership shift.
10-Q
Q3 FY2025 results
Hudson Pacific Properties posted Q3 revenues of $186.6M, down 6.9% y/y from $200.4M as office fell 7.4% y/y (derived) and studio dropped 4.2% y/y (derived), yet office NOI held at $83.0M (-5.1% y/y) while studio swung to breakeven from a $1.9M loss. Net loss swelled to $144.1M from $107.0M, stung by a $77.9M hit from Sunset Glenoaks deconsolidation, though offset by no repeat of last year's $36.5M impairments; diluted EPS held at -$0.30 vs -$0.69 y/y amid share count jump to 451M from 141M due to June equity raise. Cash climbed to $190.4M with $795M revolver capacity, debt net at $3.6B after repaying $621M (Series B/C/D notes, Element LA); ops cash $61.7M YTD. Deconsolidation trimmed noncontrolling interests. Office leasing slipped to 76.5%; tenant defaults loom.
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