HPP Stock Recent News

U.S. equity markets posted their worst week in two months as benchmark interest rates jumped to four-month highs after a critical slate of inflation data showed modestly firming price pressures. Fueling bets that the Federal Reserve may have to slow the pace of policy easing, the Consumer Price Index and Producer Price Index each posted fractional upside surprises in October. After surging nearly 5% last week en route to fresh record highs, the S&P 500 dipped 2.1% on the week, with healthcare and technology stocks under particularly sharp pressure.

Hudson Pacific Properties has faced significant challenges, particularly in its office and studio segments, but its current valuation presents an attractive risk-reward proposition for patient investors. The company's portfolio of Class A office properties, primarily in Coastal markets, is showing signs of recovery with increasing leasing activity and stable rent economics. The studio business, despite current underperformance, has potential for substantial NOI growth, especially with the proposed expansion of California's film tax credit program.

LOS ANGELES--(BUSINESS WIRE)--Hudson Pacific Properties, Inc. (NYSE: HPP), a unique provider of end-to-end real estate solutions for tech and media tenants, today announced it will release third quarter financial results after market close on Tuesday, November 12, 2024. The company will hold a conference call to discuss the results at 2:00 p.m. PT / 5:00 p.m. ET the same day. The conference call will be available via live audio webcast on the Investors section of the company's website at Hudson.

Hudson Pacific Properties' stock sank Tuesday after the real-estate investment trust suspended its dividend, as the company continues to struggle nearly a year after the Hollywood writers and actors strikes ended.

Famed investor Michael Burry, renowned for his prescient bet against the U.S. housing market prior to the 2008 financial crisis, has made a strategic move in Q2 2024 by initiating a new position in Hudson Pacific Properties Inc (NYSE: HPP).

HPP.PR.C shares dropped 20% since last article, while the common shares have fallen only 2%. HPP occupancy rate dropped year over year to 78.7%. We examine the setup after the Q2-2024 results and the outlook downgrade by the company.

Management's 3Q FFO guidance of $0.08-$0.12 disappointed REIT investors. Studio rentals continue to be weak even after various union contracts were settled. There is the risk that Hudson Pacific Properties could be in violation of debt covenants in the future.

Although the revenue and EPS for Hudson Pacific (HPP) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Hudson Pacific Properties, Inc. (NYSE:HPP ) Q2 2024 Earnings Conference Call August 7, 2024 5:00 PM ET Company Participants Laura Campbell - EVP, IR & Marketing Victor Coleman - Chairman & CEO Mark Lammas - President Harout Diramerian - CFO Arthur Suazo - EVP of Leasing Conference Call Participants Blaine Heck - Wells Fargo Ronald Kamdem - Morgan Stanley Nick Yulico - Scotiabank Caitlin Burrows - Goldman Sachs John Kim - BMO Alexander Goldfarb - Piper Sandler Tom Catherwood - BTIG Michael Griffin - Citi Dylan Burzinski - Green Street Peter Abramowitz - Jefferies Rich Anderson - Wedbush Securities Operator Hello, everyone. Thank you for attending today's Hudson Pacific Properties Second Quarter 2024 Earnings Call.

Hudson Pacific Properties (HPP) came out with quarterly funds from operations (FFO) of $0.17 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.24 per share a year ago.