Hudson Pacific Properties (HPP) Matches Q2 FFO Estimates

Core Insights - Hudson Pacific Properties (HPP) reported quarterly funds from operations (FFO) of $0.17 per share, matching the Zacks Consensus Estimate, but down from $0.24 per share a year ago [1] - The company posted revenues of $218 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 1.19%, but down from $245.17 million year-over-year [2] - The stock has underperformed significantly, losing about 41.3% since the beginning of the year compared to the S&P 500's gain of 9.9% [3] Financial Performance - Over the last four quarters, Hudson Pacific has surpassed consensus FFO estimates only once [2] - The current consensus FFO estimate for the upcoming quarter is $0.22 on revenues of $223.09 million, and for the current fiscal year, it is $0.83 on revenues of $884.29 million [7] Market Outlook - The estimate revisions trend for Hudson Pacific is mixed, resulting in a Zacks Rank 3 (Hold), indicating expected performance in line with the market [6] - The outlook for the REIT and Equity Trust - Other industry is currently in the top 40% of Zacks industries, suggesting a favorable environment for stocks in this sector [8]