HPP
Hudson Pacific Properties, Inc.11.54
-0.52-4.31%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
5.11BP/E (TTM)
-Basic EPS (TTM)
-16.03Dividend Yield
0.06%Recent Filings
8-K
8-K
8-K
HPP Q3 leasing surges, liquidity bolsters
Hudson Pacific Properties reported Q3 2025 results with $186.6 million in revenue, down from $200.4 million due to asset sales and lower office occupancy, yet slashed G&A expenses 30% to $13.7 million. Leasing surged with 515,450 square feet signed, including a 106,000-square-foot AI deal in Palo Alto, pushing office occupancy to 75.9% and marking positive absorption amid West Coast tech demand. Balance sheet strengthened to $1.0 billion liquidity, all debt fixed or capped at 5.0% average rate with no maturities until Q3 2026; Q4 FFO outlook $0.01-$0.05 per share. Momentum builds, but studio NOI nears breakeven.
8-K
Hudson Pacific Properties extends credit facility to $795M with 2026 maturity, later $462M to 2029. Rates unchanged; covenants adjusted. Led by Wells Fargo, BofA, KeyBanc, RBC.
Hudson Pacific Properties, Inc. has amended and extended its unsecured revolving credit facility, increasing permitted borrowings to $795 million initially, with a year-end 2026 maturity. It can later access $462 million maturing in 2029, including two six-month extensions. The interest rate remains SOFR plus 115-160 basis points, with an annual fee of 15-30 basis points. Covenants are modified, including raising the adjusted EBITDA to fixed charges ratio to 1.5x, lowering the unencumbered NOI to unsecured interest expense ratio to 1.75 until end-2026, and adding a $125 million minimum liquidity covenant if borrowings exceed $600 million. The amendment was led by Wells Fargo Securities, BofA Securities, KeyBanc Capital Markets, and Royal Bank of Canada.
8-K
Board appoints Ferguson, Linehan retires
Hudson Pacific Properties swiftly replaced departing director Mark Linehan with T. Ritson Ferguson on September 11, 2025, as Linehan steps away for other commitments without discord. Ferguson, a veteran in REIT investment management from CBREIM, joins the Audit Committee, bringing over 30 years of expertise to guide the company's West Coast real estate strategy. This board refresh bolsters oversight amid market challenges. No financial impacts disclosed.
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