Hudson Pacific Properties, Inc. - HPP STOCK NEWS

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.

Hudson Pacific Properties (NYSE: HPP) announced that its Chairman and CEO, Victor Coleman, will join senior management in a roundtable at the BofA Securities 2022 Global Real Estate Conference on September 14, 2022, at 11:05 a.m. ET. The discussion will be available via a live webcast, with a replay accessible 24 hours post-event. Hudson Pacific focuses on providing real estate solutions for tech and media tenants, leveraging its expertise in acquiring and developing properties into premium office and studio spaces.

Hudson Pacific Properties (NYSE: HPP) has declared dividends for the third quarter of 2022. Common stockholders will receive $0.25 per share, translating to an annual rate of $1.00. Preferred stockholders will receive $0.296875 per share, with an annual rate of $1.18750. Both dividends will be paid on September 29, 2022, to stockholders of record as of September 19, 2022.

Hudson Pacific Properties (NYSE: HPP) announced the pricing of a public offering of $350 million in 5.950% senior notes due February 15, 2028. The notes will be senior unsecured obligations and are expected to close on September 15, 2022, pending customary conditions. Proceeds will finance Eligible Green Projects, including green buildings and renewable energy, and may also repay existing debts. The offering is made under an effective shelf registration with the SEC.

Hudson Pacific Properties (NYSE: HPP) announced its operating partnership has initiated an underwritten public offering of senior notes, which will be fully guaranteed by the Company. The net proceeds will finance Eligible Green Projects, such as green buildings and renewable energy, or repay existing debt, including the acquisition of Quixote Studios. The offering is made under a shelf registration statement with the SEC, and a prospectus will be available. The Company focuses on real estate investments catering to tech and media sectors, emphasizing sustainable development.

Hudson Pacific Properties (NYSE: HPP) has announced the acquisition of Quixote Studios for $360 million before closing costs, enhancing its production services and sound stage portfolio. Quixote, known for its extensive offerings, including over 500 cast trailers and grip equipment, serves major clients like Disney and HBO. The acquisition aims to create immediate economies of scale and diversify HPP's clientele. Hudson Pacific financed the purchase through $200 million in credit and $160 million in deferred payments.

Hudson Pacific Properties (HPP) reported a significant leasing activity of over 700,000 square feet in Q2 2022, with a GAAP rent growth of 16.2% and cash rent growth of 5.5%. Total revenue rose 16.6% to $251.4 million, while cash NOI increased by 7.3% to $125.2 million. Despite these gains, HPP faced a net loss of $7.4 million, translating to a loss of $0.05 per diluted share. The company updated its 2022 FFO guidance to $2.00-$2.06 per share, reflecting potential challenges due to rising interest rates.