NEW YORK, June 16, 2025 /PRNewswire/ -- Cohen & Steers, Inc. (NYSE: CNS), announced today that the firm, on behalf of its clients' accounts, has invested $300 million in Hudson Pacific Properties, Inc, (NYSE: HPP), a leading West Coast office REIT, as a cornerstone investor to support HPP's balance sheet recapitalization. The purchase reflects 43% of HPP's $690 million offering.Jason Yablon, Executive Vice President and Head of Listed Real Estate, said:"We believe the West Coast office market recovery is un ...

Washington, D.C. 20549 ______________________________________ FORM 10-Q ______________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Commission File Number: 001-34789 (Hudson Pacific Properties, Inc.) Commis ...

Hudson Pacific Properties (HPP) came out with quarterly funds from operations (FFO) of $0.09 per share, beating the Zacks Consensus Estimate of $0.08 per share. This compares to FFO of $0.17 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 12.50%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.10 per share when it actually produced FFO of $0.11, delivering a surprise of 10%.Over the last f ...

Hudson Pacific Properties (HPP) Q1 2025 Earnings Call May 07, 2025 05:00 PM ET Company Participants Laura Campbell - Executive Vice President of Investor Relations & MarketingVictor Coleman - Chairman & CEOMark Lammas - PresidentHarout Diramerian - CFOArthur Suazo - Executive Vice President of LeasingJohn Kim - Managing Director - US Real EstateThomas Catherwood - MD & REITs Equity ResearchYong H Koo - Head - Rates and Mortgage Valuation & Hedging Modeling TeamPeter Abramowitz - SVP - Equity Research Confer ...

Hudson Pacific Properties, Inc. Press Release Hudson Pacific Properties Reports First Quarter 2025 Financial Results • Total revenue of $198.5 million compared to $214.0 million, primarily due to asset sales and lower office occupancy • Net loss attributable to common stockholders of $74.7 million, or $0.53 per diluted share, compared to net loss of $52.2 million, or $0.37 per diluted share, largely attributable to items affecting revenue, as well as one-time lease termination fees associated with Quixote c ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_____to_____ Commission file number 001-34789 (Hudson Pacific Properties, Inc.) Commission file number 333-202799-01 (Hudson Pacific Properties, L.P.) Hudson Pacifi ...

Financial Data and Key Metrics Changes - The fourth quarter 2024 revenue was $209.7 million, down from $223.4 million in the same quarter last year, primarily due to the sale of One Westside and a tenant moving out of Maxwell [36] - Fourth quarter FFO, excluding specified items, was $15.5 million or $0.11 per diluted share, compared to $19.6 million or $0.14 per diluted share a year ago [36][37] - Same-store cash NOI was $94.2 million, down from $106.3 million in the fourth quarter last year, mainly due to lower office occupancy [38] Business Line Data and Key Metrics Changes - Office leasing increased nearly 20% year-over-year, with over 2 million square feet of signed leases, including 1.2 million square feet of new leasing [9][10] - The trailing 12-month net effective rents were 2% lower year-over-year and 8% lower than pre-pandemic levels, while net effective rents on new deals were up 18% year-over-year [24] - Studio revenues increased by $2 million compared to the prior quarter, driven by increased production activity [30] Market Data and Key Metrics Changes - San Francisco and Silicon Valley achieved positive net absorption in the fourth quarter, marking record years for gross leasing post-pandemic [12] - Fourth quarter venture funding reached $75 billion, the highest since Q2 2022, driven by interest in AI [13] - The Bay Area received 53% of global AI venture funding in 2024, indicating strong demand for office space from AI companies [14] Company Strategy and Development Direction - The company aims to reinvigorate earnings growth through strategic priorities such as office and studio leasing, property sales, and cost containment [7][8] - The focus remains on enhancing the balance sheet and pursuing asset sales, with $94 million generated from recent sales [11][22] - The company is optimistic about the film and television industry in Los Angeles, particularly with proposed tax credits to boost local production [17][18] Management's Comments on Operating Environment and Future Outlook - Management noted that despite macro uncertainties, businesses are poised to benefit from pro-growth policies, with tech layoffs at their lowest since Q1 2022 [15][16] - The company expects office portfolio occupancy to stabilize in the second half of 2025, driven by new leasing activity [28] - For 2025, the company anticipates same-store property cash NOI growth of negative 12.5% to 13.5%, reflecting lower occupancy in the first half of the year [46] Other Important Information - The company amended its credit facility to improve covenant performance and maintain liquidity, with total liquidity of $518.3 million [40][42] - The Quixote business is undergoing cost-cutting measures, with $7.5 million in annual savings expected [32][68] Q&A Session Summary Question: How are the fundamentals firming up in office leasing? - Management indicated that tours and the leasing pipeline are up, with average deal sizes increasing, suggesting a positive trend [51][52] Question: What is the current status of secured financing? - Management is confident in the ongoing processes for multiple financing events, expecting positive outcomes soon [55] Question: Can you provide insights on the leasing pipeline and tenant types? - Management expressed confidence in closing deals, noting an increase in late-stage LOIs and leases, with urgency from tenants returning to the office [62][63] Question: What are the expectations for occupancy trends this year? - Management expects a dip in occupancy in the first quarter due to expirations but anticipates recovery in the following quarters [106][107] Question: How does the company view the Quixote business after the impairment? - Management clarified that the impairment is a GAAP requirement and does not reflect the actual value of the business, maintaining confidence in its future [97][99]

Hudson Pacific Properties (HPP) reported $209.67 million in revenue for the quarter ended December 2024, representing a year-over-year decline of 6.2%. EPS of $0.11 for the same period compares to -$0.70 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $208.66 million, representing a surprise of +0.48%. The company delivered an EPS surprise of +10.00%, with the consensus EPS estimate being $0.10.While investors closely watch year-over-year changes in headline numbers -- revenue an ...

Hudson Pacific Properties (HPP) came out with quarterly funds from operations (FFO) of $0.11 per share, beating the Zacks Consensus Estimate of $0.10 per share. This compares to FFO of $0.14 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an FFO surprise of 10%. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.11 per share when it actually produced FFO of $0.10, delivering a surprise of -9.09%.Over the last f ...

Financial Performance - Total revenue for Q4 2024 was $209.7 million, down from $223.4 million in Q4 2023, primarily due to the sale of One Westside and a tenant move-out at Maxwell[4] - Net loss attributable to common stockholders was $167.0 million, or $1.18 per diluted share, compared to a net loss of $98.0 million, or $0.70 per diluted share in the prior year[4] - FFO, excluding specified items, was $15.5 million, or $0.11 per diluted share, down from $19.6 million, or $0.14 per diluted share in Q4 2023[4] - Total revenues for the year ended 12/31/24 decreased to $842,082,000, down 11.6% from $952,297,000 for the year ended 12/31/23[24] - Net loss attributable to common stockholders for the year ended 12/31/24 was $364,143,000, compared to a net loss of $192,181,000 for the year ended 12/31/23, representing an increase in loss of 89.5%[24] - For the three months ended December 31, 2024, Hudson Pacific Properties reported a net loss of $173,481,000 compared to a net loss of $88,654,000 for the same period in 2023[25] - Funds from Operations (FFO) attributable to common stock/unit holders was $(93,020,000) for Q4 2024, a decrease from $12,779,000 in Q4 2023[25] - Adjusted Funds from Operations (AFFO) for the year ended December 31, 2024, was $67,104,000, down from $115,669,000 in 2023[30] Operational Metrics - Same-store cash NOI decreased to $94.2 million from $106.3 million, primarily due to lower office portfolio occupancy[5] - The in-service office portfolio ended Q4 2024 at 78.3% occupied and 78.9% leased, compared to 79.1% occupied and 80.0% leased in the prior quarter[10] - Executed 76 new and renewal leases totaling 441,924 square feet, including a new lease with Salesforce for 83,000 square feet[10] - Same-store office cash revenues decreased to $157,370,000 in Q4 2024 from $168,873,000 in Q4 2023, reflecting a decline of approximately 6.5%[31] - Hudson Pacific Properties' same-store revenues for the three months ended December 31, 2024, totaled $172,687,000, down from $175,138,000 in the same period of 2023[31] Liquidity and Assets - The company had $518.3 million of total liquidity as of December 31, 2024, including $63.3 million of unrestricted cash[10] - Cash and cash equivalents decreased to $63,256,000 as of 12/31/24, down 37% from $100,391,000 as of 12/31/23[23] - Total assets decreased to $8,132,239,000 as of 12/31/24, down 1.8% from $8,282,050,000 as of 12/31/23[23] - Total liabilities increased to $4,954,508,000 as of 12/31/24, up 4.9% from $4,720,881,000 as of 12/31/23[23] Impairments and Expenses - The company reported an impairment loss of $149,664,000 for the year ended 12/31/24, compared to $60,158,000 for the year ended 12/31/23[24] - The company reported a goodwill impairment of $107,615,000 for the year ended December 31, 2024[25] - The company incurred transaction-related expenses of $2,306,000 for the year ended December 31, 2024[30] Future Outlook - The company provided an FFO outlook for Q1 2025 of $0.07 to $0.11 per diluted share[10] - The company anticipates a same-store property cash NOI growth decline of between (13.50)% and (12.50)% for the full year 2025[13] - The company plans to continue executing on asset sales and seek additional cost savings to strengthen its balance sheet in 2025[2] Depreciation and Stock Metrics - Total depreciation and amortization for the year ended December 31, 2024, was $354,425,000, down from $397,846,000 in 2023[25] - The weighted average shares of common stock outstanding for the year ended 12/31/24 were 141,193,000, slightly up from 140,953,000 for the year ended 12/31/23[24] - The weighted average common stock/units outstanding—diluted for the year ended December 31, 2024, was 145,603,000, slightly up from 144,552,000 in 2023[25]