Office REIT Hudson Pacific Properties New Guidance Numbers Indicate Continued Weakness

Wirestock/iStock via Getty Images Office RE/T Hudson Pacific Properties, Inc. (NYSE:HPP) voontinues to struggle. 2Q 2024 FFO was $0.16 and AFFO was $0.17 per sharc compared to $0.22 and $0.22 in 2Q 2023 and $0.50 and $0.41 in 2Q 2022. Guidance for 3Q 2024 FFO was only $0.08-$0.12 per share. Average office occupancy is now down to only 78.7%. At least, the threat of yet another strike that could have negatively impacted their studio rentals was recently averted when IATSE and Teamsters Local 399 Union nattif ...