Hudson Pacific Properties, Inc. - HPP STOCK NEWS

Hudson Pacific Properties (HPP) reported a full-year net income of $0.04 per diluted share and achieved the high end of its FFO guidance at $1.99 per share. The company signed over 1.8 million square feet in office leases, with GAAP and cash rent growth of 14.0% and 7.1%, respectively. In Q4, net income was $0.05 per share, and FFO reached $0.52 per share, with a total revenue growth of 18.0% to $240.5 million. For 2022, HPP provided FFO guidance of $2.01 to $2.09 per diluted share, amid continued expansion in both studio and office properties.

Hudson Pacific Properties (NYSE: HPP) announced the tax treatment for its 2021 common stock dividends. Key details include a record date of 3/19/21 and payment date of 3/29/21, with a distribution per share of $0.25000. Total distributions include $1.00000 in ordinary dividends, of which $0.65120 are classified as qualified dividends. Furthermore, $0.34880 is categorized as return of capital. These dividends are eligible for the Section 199A deduction for non-corporate taxpayers.

Hudson Pacific Properties, Inc. (NYSE: HPP) announced it will release its fourth quarter financial results after market close on February 16, 2022. A conference call to discuss these results is scheduled for 11:00 a.m. PT (2:00 p.m. ET) on February 17, 2022. Investors can participate via a dedicated phone line or access a live webcast on the company’s website. Hudson Pacific is a real estate investment trust with a diverse portfolio focused on innovation and technology hubs, featuring major tenants like Google and Netflix.

Hudson Pacific Properties (NYSE: HPP) has acquired a leasehold interest in the 5th & Bell office building in Seattle for $119 million. The property, comprising 197,000 square feet, is fully leased to Amazon and features modern amenities. This acquisition, funded through a preferred stock offering and a $75 million draw on its credit facility, expands Hudson Pacific's Class A portfolio in the Denny Triangle submarket to nearly 2 million square feet. The company emphasizes that this transaction is expected to be immediately accretive to shareholders.

Hudson Pacific Properties has declared a $0.25 quarterly dividend per share for Q4 2021, payable on December 30, 2021 to shareholders of record as of December 20, 2021. The company focuses on prime real estate and has a diverse portfolio exceeding 20 million square feet, including significant tenants like Google and Netflix. As a publicly traded real estate investment trust (REIT) on the NYSE under the symbol HPP, Hudson Pacific is part of the S&P MidCap 400 Index.

Hudson Pacific Properties, Inc. (NYSE: HPP) has pledged a total of $1 million to support The Veterans Fund, a $10 million initiative aimed at constructing the largest veteran housing community at the West Los Angeles VA Campus. This includes a $500,000 monetary donation and $500,000 in pro bono services. The project will result in over 1,600 supportive housing units for veterans and their families, alongside essential services. This is part of Hudson Pacific’s broader $20 million commitment to address homelessness in core markets.

Hudson Pacific Properties (NYSE: HPP) announced a public offering of 16 million shares of 4.750% Series C Cumulative Redeemable Preferred Stock at $25.00 per share, aiming for gross proceeds of $400 million. The offering includes a 30-day option for underwriters to purchase an additional 2.4 million shares. Proceeds will support debt repayment, development, acquisitions, and working capital. The offering is expected to close on November 16, 2021. Joint book-running managers for the offering include BofA Securities and Morgan Stanley.

Hudson Pacific Properties (HPP) reported a net loss of $9.3 million or $0.06 per diluted share for Q3 2021, compared to a loss of $5.4 million the previous year. Funds from operations (FFO) were $0.50 per diluted share, up from $0.43. The company achieved significant growth in same-store office and studio cash NOI, at 10.8% and 45.5%, respectively. With 92.1% of its office portfolio leased, HPP executed over 318,000 square feet in office leases. Guidance for 2021 FFO is set between $1.95 and $1.99 per diluted share, reflecting robust demand in its studio and office segments.