Hudson Pacific Properties (HPP) Q3 FFO and Revenues Miss Estimates

Core Insights - Hudson Pacific Properties (HPP) reported quarterly funds from operations (FFO) of $0.10 per share, missing the Zacks Consensus Estimate of $0.11 per share, and down from $0.18 per share a year ago, representing an FFO surprise of -9.09% [1] - The company posted revenues of $200.39 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 4.09%, and down from $231.44 million year-over-year [2] - Hudson Pacific shares have declined approximately 52.3% year-to-date, contrasting with the S&P 500's gain of 25.8% [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 $0.13 on revenues of $213.01 million, and for the current fiscal year, it is $0.57 on revenues of $851.34 million [7] Market Outlook - The estimate revisions trend for Hudson Pacific is currently unfavorable, resulting in a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [6] - The outlook for the REIT and Equity Trust - Other industry is relatively strong, ranking in the top 27% of over 250 Zacks industries, suggesting that industry performance can significantly impact individual stock performance [8]