Hudson Pacific Properties Q1 Earnings Call Highlights

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Sun, May 10, 2026 astatine 5:09 PM CDT 8 min read

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Hudson Pacific saw improving bureau fundamentals successful Q1, with 554,000 quadrate feet of leases signed, occupancy rising to 77.8%, and the leasing pipeline reaching 2.4 cardinal quadrate feet. Management said AI- and tech-driven request is particularly beardown successful the Bay Area and Seattle.
The institution raised full-year 2026 Core FFO guidance to $1.10 to $1.18 per diluted stock from $0.96 to $1.06, citing better-than-expected first-quarter results and benefits from reclassifying definite Quixote operations. Hudson Pacific besides ended the 4th with $933 cardinal successful full liquidity.
Studio show was mixed but restructuring is expected to help, arsenic premier Hollywood stages remained highly leased portion Quixote-related gross fell. Hudson Pacific said it volition upwind down definite Quixote operations, a determination expected to amended yearly currency NOI by astir $5.8 million.

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Hudson Pacific Properties (NYSE:HPP) executives said the institution began 2026 with improving bureau occupancy, stronger leasing enactment and a higher full-year funds-from-operations outlook, portion continuing to streamline its studio-related operations and prosecute non-core plus sales.

Chairman and Chief Executive Officer Victor Coleman said connected the company’s first-quarter net telephone that Hudson Pacific “delivered betterment successful some occupancy and currency flow” and sequentially accrued FFO successful full and connected a per-share basis. He pointed to much than 500,000 quadrate feet of bureau leasing, a 3rd consecutive 4th of occupancy gains, reductions successful wide and administrative expenses and full liquidity supra $930 million.

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Coleman said West Coast bureau request is being supported by task superior investment, peculiarly successful artificial quality and technology. He cited $267 cardinal of task superior deployed successful the archetypal 4th and said that superior is translating into leasing request crossed Hudson Pacific’s markets.

Office Leasing Momentum Continues

President Mark Lammas said Hudson Pacific signed 554,000 quadrate feet of bureau leases during the quarter, with 49% of that measurement coming from caller leases. The company’s in-service bureau portfolio occupancy roseate to 77.8%, up 150 ground points sequentially, portion the lease complaint accrued to 78.4%, up 140 ground points.

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