Hudson Pacific Q2 Revenue Beats, Raises 2026 FFO Outlook on Leasing Surge
HPP has more than doubled off its 52-week low of $5.26.
Summary
Hudson Pacific's Q2 revenue of $188.3M topped the $185.2M consensus, driven by 1.3M sq ft of office leases including a massive 891K sq ft deal with San Francisco city and county. Core FFO per share jumped 30% year-over-year, and the company raised its full-year 2026 Core FFO guidance to $1.12-$1.20. Same-store cash NOI grew 7.5% on higher occupancy, while cost-cutting trimmed G&A expenses. This follows an earlier report that focused on the GAAP loss; the operational metrics and guidance raise paint a much stronger picture. The San Francisco lease signals a major vote of confidence in a challenged office market.
At the time of this announcement, 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 news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.