STOCK TITAN
  1. Home
  2. News
  3. HPP

Hudson Pacific Properties, Inc. - HPP STOCK NEWS

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

Hudson Pacific Properties, Inc. (NYSE: HPP) is a premier, vertically-integrated real estate company specializing in the acquisition, development, and operation of high-quality office and state-of-the-art media and entertainment properties. Founded in 2006 and going public in 2010, Hudson Pacific Properties has grown its portfolio to approximately 17.3 million square feet, strategically located in high-growth, high-barrier-to-entry markets across Northern and Southern California and the Pacific Northwest.

The company focuses on creating additional value through its expertise in leasing, capital investment, and management. Hudson Pacific Properties' portfolio includes a diverse array of assets catering to Fortune 500 companies and industry-leading growth enterprises, particularly in the technology, media, and entertainment sectors. Its properties are designed to meet the demands of next-generation workspaces, featuring innovative and design-forward environments.

Hudson Pacific Properties operates in two main segments: office properties and related operations, and studio properties and related operations. The majority of the company's revenue is derived from its office properties segment, which includes premier office buildings in urban hubs like Greater Seattle, San Francisco, and Los Angeles. The studio properties segment is equally significant, featuring state-of-the-art sound stages and production facilities that serve as the backbone for major media and entertainment projects.

In recent years, Hudson Pacific Properties has made significant strides in expanding its portfolio and enhancing its market presence. The company has been involved in several high-profile projects and partnerships, solidifying its status as a leading real estate investment trust (REIT). With a commitment to sustainable and innovative development, Hudson Pacific Properties continues to set new standards in the commercial real estate industry.

News

Hudson Pacific Properties Reports Fourth Quarter 2023 Financial Results

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
-
News

Hudson Pacific Properties Announces 2023 Dividend Tax Treatment

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
-
News

Hudson Pacific Properties Announces Dates for Fourth Quarter Earnings Release and Conference Call

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
News

Hudson Pacific and Macerich Complete $700 Million Sale of One Westside and Westside Two

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
-
News

Hudson Pacific Announces Completion of Credit Facility Amendment

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
-
News

Hudson Pacific Properties Declares Fourth Quarter 2023 Preferred Stock Dividend

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
News

Hudson Pacific Appoints Michael Nash to Board of Directors

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
-
News

Hudson Pacific Reaffirms Leadership in Sustainability with Industry-Wide Recognitions

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
-
News

Hudson Pacific Raises $189 Million from Silicon Valley Land and Studio Debt Sales

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
News

Hudson Pacific Appoints Robert Harris to Board of Directors

Rhea-AI Summary
Hudson Pacific Properties, Inc. (NYSE: HPP) appoints Robert “Chip” Harris II to the Board of Directors, succeeding Karen Brodkin. Harris brings extensive real estate and public company expertise from his previous roles. His appointment reflects the company's commitment to creating long-term value for shareholders.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
14.08%
Tags
management

FAQ

What is the current stock price of Hudson Pacific Properties (HPP)?

The current stock price of Hudson Pacific Properties (HPP) is $3.23 as of November 20, 2024.

What is the market cap of Hudson Pacific Properties (HPP)?

The market cap of Hudson Pacific Properties (HPP) is approximately 460.1M.

What is Hudson Pacific Properties, Inc.?

Hudson Pacific Properties, Inc. (NYSE: HPP) is a real estate investment trust that focuses on acquiring, developing, and operating high-quality office and media properties on the West Coast.

When was Hudson Pacific Properties founded?

Hudson Pacific Properties was founded in 2006.

What are the main segments Hudson Pacific Properties operates in?

The company operates in two main segments: office properties and related operations, and studio properties and related operations.

Where are Hudson Pacific Properties' assets located?

The company's assets are primarily located in high-growth, high-barrier-to-entry markets across Northern and Southern California and the Pacific Northwest.

How much square footage is in Hudson Pacific Properties' portfolio?

Hudson Pacific Properties' portfolio totals approximately 17.3 million square feet.

Who are the typical tenants of Hudson Pacific Properties?

The company's tenants include Fortune 500 companies and industry-leading growth enterprises, particularly in the technology, media, and entertainment sectors.

What is the focus of Hudson Pacific Properties' development projects?

The company focuses on creating design-forward, next-generation workspaces that cater to the needs of modern businesses.

What type of properties does Hudson Pacific Properties specialize in?

Hudson Pacific Properties specializes in office buildings and media and entertainment properties, such as sound stages.

When did Hudson Pacific Properties go public?

The company went public in 2010.

What is Hudson Pacific Properties' stock symbol?

Hudson Pacific Properties' stock symbol is HPP.

Stock HPP logo
Hudson Pacific Properties, Inc.

NYSE:HPP

HPP Rankings

#3169 Ranked by Market Cap
#433 Ranked by Dividends

HPP Stock Data

460.13M
136.37M
3.33%
110.53%
16.13%
REIT - Office
Real Estate
Link
United States of America
LOS ANGELES