Hudson Pacific Reports Q3 2026 Results with Increased Core FFO Guidance
Hudson Pacific Properties (HPP) reported third-quarter 2026 results characterized by a net loss of $218.1 million due to non-cash impairments at Skyport Plaza and Hill 7. Despite the bottom-line loss, the company achieved Core FFO of $0.28 per diluted share and saw an 8.3% year-over-year growth in same-store cash net operating income (NOI), driven by improved office occupancy and studio production activity. The company is actively deleveraging, reporting a 14% year-over-year reduction in pro forma debt to $2.7 billion following asset sales and note repurchases. Management also raised its full-year Core FFO guidance to a range of $1.15 to $1.21 per diluted share. While office leasing volume remains steady, the company is navigating challenges such as lower on-location shoot days in Los Angeles compared to historical averages.
Coverage
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