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.
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.
Hudson Pacific Properties (NYSE: HPP) will announce its third quarter financial results on
Hudson Pacific Properties (NYSE: HPP) has announced plans for a 16-storey mass timber office and retail development named Burrard Exchange at Bentall Centre in Vancouver. The project will add approximately 450,000 square feet of space and aims to be completely carbon neutral upon completion.
Construction is expected to create over 2,000 jobs, with work starting in early 2023. The design emphasizes outdoor spaces and aims to transform Bentall Centre into a landmark destination, enhancing its appeal for major tenants.
Hudson Pacific Properties (NYSE: HPP) announced that Chairman and CEO Victor Coleman will participate in a roundtable discussion at the BofA Securities 2021 Global Real Estate Virtual Conference on September 22, 2021 at 11:15 a.m. ET. The event will be available via a live, listen-only webcast, with a replay accessible one hour after it concludes. Hudson Pacific Properties manages over 20 million square feet of office and studio space, featuring tenants like Google and Netflix. For more details, visit HudsonPacificProperties.com.
Hudson Pacific Properties (NYSE: HPP) announced a quarterly dividend of
Hudson Pacific Properties (NYSE: HPP) has announced the acquisitions of Star Waggons and Zio Studio Services for a total of $222 million. These acquisitions aim to enhance production services revenue and expand the company’s footprint in the entertainment industry. Star Waggons operates a fleet of over 650 luxury trailers across key locations, while Zio Studio Services provides comprehensive transportation solutions to over 70% of major studio productions in Southern California. The transactions are expected to be immediately accretive to financial targets and align with Hudson Pacific's growth strategy.
Hudson Pacific Properties (NYSE:HPP) has raised its full-year and Q3 2021 Funds From Operations (FFO) guidance to
Hudson Pacific Properties (HPP) reported its second-quarter financial results for 2021, showing a net income of $2.3 million or $0.02 per diluted share, down from $3.7 million year-over-year. Total revenue increased to $215.6 million, up 8.6%, while FFO excluding specified items was $74.4 million or $0.49 per diluted share. The office leasing market showed strength with over 500,000 square feet signed and a cash rent growth of 12%. The company reinstated its full-year guidance, anticipating FFO per share between $1.90 and $1.96, despite challenges in certain areas.
Blackstone and Hudson Pacific Properties have partnered to develop a new film and TV production center in Broxbourne, Hertfordshire, acquiring a 91-acre site for £120 million. With an anticipated total investment exceeding £700 million, this marks the expansion of their Sunset Studios platform into the UK. The project could create over 4,500 permanent jobs and contribute £300 million annually to the local economy. This venture aligns with Blackstone's focus on media and entertainment, supported by government officials who see it as a significant boost for the UK's creative industry.
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