Hudson Pacific Properties' Q3 revenue falls more than expected
HPP•Hudson Pacific Properties reported Q3 revenue of $180.89 million, below the $185.21 million consensus estimate. Core FFO per share grew about 8% year over year, and the company raised and narrowed its 2026 Core FFO outlook to $1.15-$1.21 per share.
1. Quarterly results
Q3 revenue was $180.89 million, below the $185.21 million consensus estimate, while the company reported a loss per share of $3.38. Core FFO per share grew about 8% year over year, driven by higher office and studio occupancy and cost savings.
2. 2026 outlook
The company raised and narrowed its 2026 Core FFO guidance to $1.15-$1.21 per share. It expects average in-service office occupancy of 82.0%-84.0% and same-store cash NOI growth of 0.0%-1.0%. The revenue decline was primarily due to asset dispositions, partially offset by improved occupancy and studio activity.
