Earnings Releases·Nov 5, 2026, 9:00 AM ET

Hudson Pacific Properties — Third Quarter 2026 Earnings Summary

Total revenue declined 3.1% year-over-year to $180.9 million, while Core FFO rose 8% to $0.28 per share and same-store cash NOI grew 8.3% to $85.2 million, driven by improved occupancy and studio activity offset by asset dispositions.
Full-year 2026 Core FFO guidance was raised and narrowed to $1.15–$1.21 per share, with management projecting average in-service office occupancy between 82.0% and 84.0% and same-store cash NOI growth of 0.00% to 1.00%.
Pro forma debt decreased 14% year-over-year to $2.7 billion, and the company subsequently repurchased $200.0 million of senior notes at a discount, while liquidity stands at $840.4 million pro forma.
Leasing momentum remains strong with a pipeline exceeding 2 million square feet, including a 65,000-square-foot renewal with Rivian and Volkswagen, and the company secured entitlements to convert 164,000 square feet of office space into residential units.