HPP lifts 2026 Core FFO guidance to $1.12–$1.20 as office occupancy climbs 470 bps
HPP has more than doubled off its 52-week low of $5.26.
Summary
Hudson Pacific Properties posted Q2 2026 Core FFO of $0.35 per share, raised full-year guidance, and executed 1.3 million square feet of office leases, headlined by a 24-year deal with the City and County of San Francisco.
Updates
· Reuters — Q2 revenue was $188.3M, beating the $185.2M consensus. The San Francisco lease covers 891K sq ft.
Key Events · Earnings and Guidance · HPP
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Core FFO Beats, Guidance Raised
Core FFO reached $0.35 per diluted share, up 30% year-over-year. Full-year 2026 Core FFO guidance was raised to $1.12–$1.20 from $1.10–$1.18.
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Office Occupancy Surges
In-service office occupancy rose 470 basis points to 82.5%, marking the fourth consecutive quarterly increase. Same-store cash NOI grew 7.5%.
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Landmark San Francisco Lease
New and renewal leases totaling 891,000 square feet were executed with the City and County of San Francisco at 1455 Market, carrying a weighted average 24-year term.
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Impairment Loss Weighs on Net Income
A $50.4 million impairment loss was recorded, contributing to a net loss of $1.62 per share.
Analysis · HPP · Real Estate & Construction
A strong operational quarter saw office occupancy surge to 82.5% and same-store cash NOI rise 7.5%, fueling a 30% jump in Core FFO per share. The landmark 891,000-square-foot lease with the City and County of San Francisco locks in nearly 25 years of cash flow. Reflecting confidence in sustained earnings growth, management raised full-year Core FFO guidance. Still, a $50.4 million impairment loss and a net loss of $1.62 per share highlight ongoing portfolio repositioning costs. The balance sheet remains solid with $876 million in liquidity and manageable debt maturities.
How filings like this one have moved
In the 30 days to Nov 6, 2026, 44.9% of the 1407 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.36%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, HPP was trading at $13.90 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $775.2M. The 52-week trading range was $5.26 to $21.70. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.