Hudson Pacific Properties (NYSE:HPP) Releases Quarterly Earnings Results, Beats Estimates By $1.01 EPS

Key Points

• Hudson Pacific reported quarterly EPS of $0.28, beating the consensus estimate by $1.01, while revenue of $180.89 million came in slightly below estimates.
• Office occupancy rose for a fifth straight quarter to 85.6%, and management raised its 2026 core FFO outlook to $1.15–$1.21 per share amid continued leasing momentum.
• The company recorded a $218.1 million net loss, largely due to property impairments and asset-sale losses; elevated leverage and upcoming debt maturities remain concerns.

Hudson Pacific Properties (NYSE:HPP - Get Free Report) released its quarterly earnings data on Thursday. The real estate investment trust reported $0.28 EPS for the quarter, topping the consensus estimate of ($0.73) by $1.01, Zacks reports. Hudson Pacific Properties had a negative return on equity of 25.07% and a negative net margin of 80.01%. The firm had revenue of $180.89 million for the quarter, compared to the consensus estimate of $181.62 million. Hudson Pacific Properties updated its FY 2026 guidance to 1.150-1.210 EPS.

Here are the key takeaways from Hudson Pacific Properties' conference call:

• Office leasing momentum continued: occupancy rose for a fifth consecutive quarter to 85.6%, and the 2.1 million-square-foot pipeline includes 1.1 million square feet in advanced stages. Management said the pipeline’s size and maturity could support growth into 2027.
• Core FFO per diluted share increased about 8% year over year to $0.28, while same-store cash NOI grew 8.3%. Hudson Pacific raised its 2026 core FFO outlook to $1.15–$1.21 per share.
• The company reported a $218.1 million net loss, primarily from non-cash impairments at Skyport Plaza and Hill7 and a loss on asset sales. Despite debt reduction and $840 million of pro forma liquidity, net debt to cash-adjusted EBITDAre remained high at 11.4x, with upcoming maturities and $333 million of revolver commitments expiring in December.
• Studio results were mixed: prime stages remained well leased and studio NOI improved, but Los Angeles on-location shoot days were 29% below the five-year average. Proposed federal and California production incentives could help, though they are not yet enacted.

Hudson Pacific Properties Trading Down 3.8%

NYSE HPP traded down $0.33 on Friday, hitting $8.43. The company's stock had a trading volume of 1,204,388 shares, compared to its average volume of 913,149. The firm has a market cap of $457.50 million, a P/E ratio of -0.83, a PEG ratio of 0.53 and a beta of 2.02. Hudson Pacific Properties has a 52-week low of $5.26 and a 52-week high of $17.20. The company's 50-day simple moving average is $11.34 and its 200 day simple moving average is $10.90. The company has a current ratio of 1.33, a quick ratio of 1.11 and a debt-to-equity ratio of 1.46.

Insider Activity

In other Hudson Pacific Properties news, Director Jon Bortz bought 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The stock was bought at an average price of $13.40 per share, for a total transaction of $335,000.00. Following the completion of the acquisition, the director directly owned 35,394 shares in the company, valued at $474,279.60. The trade was a 240.52% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.47% of the company's stock.

Trending Headlines about Hudson Pacific Properties

Here are the key news stories impacting Hudson Pacific Properties this week:

• Positive Sentiment: Quarterly FFO was $0.28 per share, topping the $0.25 consensus estimate and matching the year-ago period. Zacks article on Q3 FFO
• Positive Sentiment: HPP set 2026 EPS guidance at $1.15–$1.21, a range that brackets the $1.16 analyst consensus. Bisnow report
• Negative Sentiment: The company posted a $218 million loss, partly reflecting losses on office-property sales. Such losses and continued office-market challenges may weigh on sentiment. Bisnow report on the loss
• Negative Sentiment: Revenue was $180.89 million, slightly below analysts’ $181.62 million estimate. Q3 financial results

Analyst Ratings Changes

HPP has been the topic of a number of analyst reports. Wall Street Zen cut Hudson Pacific Properties from a "hold" rating to a "sell" rating in a research note on Sunday, September 20th. Cantor Fitzgerald increased their price objective on Hudson Pacific Properties from $14.00 to $17.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Piper Sandler cut shares of Hudson Pacific Properties from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $15.00 to $13.00 in a report on Monday, October 19th. Morgan Stanley set a $9.00 target price on shares of Hudson Pacific Properties and gave the stock an "underweight" rating in a research note on Wednesday, July 22nd. Finally, Mizuho upped their price target on shares of Hudson Pacific Properties from $15.00 to $17.00 and gave the company a "neutral" rating in a report on Tuesday, July 21st. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Hudson Pacific Properties has an average rating of "Hold" and an average target price of $15.27.

About Hudson Pacific Properties

Hudson Pacific Properties, Inc is a real estate investment trust that owns, operates and develops office and studio properties in major technology, media and entertainment markets. The company's portfolio is focused primarily on the West Coast of the United States and Vancouver, Canada, with properties designed for businesses in the technology, media and creative industries.

Hudson Pacific's office business includes creative office campuses and traditional office buildings that it leases to companies across sectors such as technology, entertainment and professional services.

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