HPP Stock Recent News

Sharply higher long-term borrowing costs for real estate during late summer have been a huge headwind for REIT operations and investment valuations. The demand for commercial real estate, especially office space, is being questioned with the appearance of stay-at-home living/work trends. However, things change. A slower economy into 2024 could reverse interest rates lower and pinpoint a bottom in REIT pessimism.

Hudson recently cut the quarterly dividend to common shareholders by 50%, creating a current yield of 8.4%. The new dividend is 192% covered by fiscal 2023 second quarter funds from operations. An end to the tech job recession and renewed economic growth in the San Francisco Bay Area should help lift office demand going into 2024.

While the top- and bottom-line numbers for Hudson Pacific (HPP) give a sense of how the business performed in the quarter ended June 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Hudson Pacific Properties (HPP) came out with quarterly funds from operations (FFO) of $0.24 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to FFO of $0.51 per share a year ago.

Hudson Pacific (HPP) was a big mover last session on higher-than-average trading volume. The latest trend in funds from operations estimate revisions might not help the stock continue moving higher in the near term.

LOS ANGELES--(BUSINESS WIRE)--Hudson Pacific Properties, Inc. (NYSE: HPP), a unique provider of end-to-end real estate solutions for dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries, today announced it will release second quarter financial results after the market closes on Tuesday, August 1, 2023. The company will hold a conference call to discuss the results at 11:00 a.m. PT / 2:00 p.m. ET on Wednesday, August 2, 2023. To part.

Hudson Pacific Properties (HPP) is a risky investment due to the negative impact of remote work on the office building market and the unfavorable political climate in California. The latest dividend was cut 50% to save cash. The strike by the Writers Guild of America continues to have a negative impact, and it is uncertain when the strike will end.

Shares of Hudson Pacific Properties Inc. HPP, -0.19% fell 0.1% in morning trading Friday, after the real estate investment trust (REIT) focused on “dynamic tech and media” cut its quarterly dividend in half to boost liquidity. Shareholders of record on June 20 will be paid the new dividend of 12.5 cents a share, down from 25 cents a share, on June 30.

HPP, KRO, and VET have been added to the Zacks Rank #5 (Strong Sell) List on May 22, 2023.

Hudson's preferreds are understandably being priced for a bankruptcy scenario as a perfect storm of tragic events hits the office and studio property owner. The REIT is set to cut its dividend to common shareholders by 50% on the back of the yield moving to over 20%. The preferred payments will not be impacted.