Hudson Pacific raises 2026 Core FFO outlook to $1.12-$1.20 per diluted share
Company expects average in-service office occupancy of 80.0%-82.0% for 2026
Overview
US office and studio landlord's Q2 revenue beat analyst expectations despite slight yr/yr decline
Core FFO per share rose 30% yr/yr, supported by higher occupancy and leasing gains
Company raised full-year 2026 Core FFO outlook
Result drivers
Office leasing - Co said execution of 1.3 mln sq ft of office leases, including 891,000 sq ft with City and County of San Francisco, drove occupancy and earnings growth
Occupancy gains - Higher office and studio occupancy contributed to 7.5% growth in same-store cash NOI
Cost savings - Lower general and administrative expenses resulted from ongoing cost savings initiatives
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 7 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the commercial reits peer group is "buy."
Wall Street's median 12-month price target for Hudson Pacific Properties, Inc. is $14.00, about 0.1% above its August 4 closing price of $13.98
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