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 and Blackstone announced the development of Sunset Glenoaks Studios in Sun Valley, California. The facility will be the first large-scale, purpose-built studio in the Los Angeles area in over 20 years, representing an investment of $170-190 million. Covering 240,000 square feet, it will feature seven sound stages and support spaces, targeting completion in Q3 2023. The project emphasizes sustainability, with plans for LEED certification and carbon neutrality. This expansion aligns with rising demand for studio space among content creators in the region.
Hudson Pacific Properties (HPP) will release its second quarter financial results after market close on August 3, 2021. A conference call to discuss the results will take place on August 4, 2021, at 11:00 a.m. PT / 2:00 p.m. ET. The call can be accessed by dialing (877) 407-0784 for domestic callers and (201) 689-8560 for international callers. A live webcast will be available on HudsonPacificProperties.com and a replay will be accessible starting from August 4 through August 18.
Hudson Pacific Properties (NYSE: HPP) has declared a quarterly dividend of $0.25 per share for Q2 2021. This dividend will be paid on June 28, 2021 to stockholders of record as of June 18, 2021. The Company is a real estate investment trust with nearly 20 million square feet of office and studio properties, focusing on premier West Coast markets. Hudson Pacific’s tenants include major companies like Netflix and Google.
Hudson Pacific Properties (NYSE: HPP) reported its first quarter 2021 results, showing net income of $5 million, down from $10.8 million in Q1 2020. FFO decreased to $73.5 million ($0.48 per diluted share), compared to $84.6 million ($0.54 per diluted share) a year prior. Total revenue rose by 3.3% to $213.1 million, while operating expenses increased by 7.4% to $179.2 million. The company highlighted strong rent collections at 98%, with a leasing pipeline indicating a return to pre-COVID activity levels. Future development includes over three million square feet targeted for tech and media industries.
Hudson Pacific Properties (NYSE: HPP) has secured a significant 11-year lease for 70,285 square feet at its newly completed Harlow office development in Hollywood with Company 3, a global post-production firm. This lease, effective from the second quarter of 2022, expands Company 3’s presence in Los Angeles where it already occupies Hudson Pacific's Santa Monica property. Harlow, which features modern architecture and environmentally-friendly design, is now over 50% leased, reflecting strong demand as companies adapt to returning to office environments.
Hudson Pacific Properties (NYSE: HPP) will release its first quarter financial results post-market on May 5, 2021, with a follow-up conference call on May 6, 2021, at 11:00 a.m. PT. Interested participants can join by dialing (877) 407-0784 or accessing the webcast on the company’s website. Hudson Pacific, a real estate investment trust, manages a diverse portfolio of nearly 20 million square feet, focusing on the West Coast's innovation centers with tenants including major firms like Google and Netflix. The company is a component of the S&P MidCap 400 Index.
Hudson Pacific Properties (NYSE: HPP) has declared a quarterly dividend of $0.25 per share for Q1 2021, to be paid on March 29, 2021. Shareholders on record as of March 19, 2021 will receive this dividend. The company focuses on premier West Coast properties totaling nearly 20 million square feet, with key tenants including Netflix, Google, and Uber. As a publicly traded real estate investment trust, it is listed in the S&P MidCap 400 Index.
Hudson Pacific Properties (NYSE: HPP) announced that Victor Coleman, CEO and Chairman, and senior management will participate in a roundtable at Citi’s 2021 Virtual Global Property CEO Conference on March 10, 2021, at 2:00 p.m. ET. A live webcast will be available on the company’s website, with a replay accessible one hour post-event. As a real estate investment trust, Hudson Pacific focuses on premier office and studio properties, totaling nearly 20 million square feet, housing notable tenants like Google and Netflix. For more details, visit HudsonPacificProperties.com.
Hudson Pacific Properties (NYSE: HPP) announced that it has signed 296,475 square feet of new and renewal deals this year, addressing its largest expiration in 2021, a 207,857-square-foot lease renewal with Google in Palo Alto. The renewal lease starts in December 2021, reducing remaining expirations to 7.5% of annualized base rent, with in-place rents 20% below market. The company noted an increase in leasing activity, with 143,000 square feet signed in Q4 2020, indicating a positive trend as demand for office space rebounds.
Hudson Pacific Properties (NYSE: HPP) announced the hiring of Jeff Stotland as Senior Vice President of Global Studios, alongside promotions for Drew Gordon and Andy Wattula to Executive Vice Presidents of California Office Operations and Pacific Northwest/Canada Office Operations, respectively. These changes aim to enhance operational efficiency and support growth. Stotland, previously at Disney, brings valuable experience. Gordon and Wattula have been key players since joining Hudson Pacific, overseeing significant portfolios in California and the Pacific Northwest.
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