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Published on 2 May 2024 on GuruFocus.com via Yahoo Finance

Hudson Pacific Properties Inc. Misses Analyst Forecasts with Q1 2024 Earnings


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Revenue: Reported at $214.0 million, falling short of the estimated $214.78 million.Net Loss: Recorded a net loss of $52.2 million, below the estimated net loss of $52.57 million.Earnings Per Share (EPS): Reported a loss of $0.37 per diluted share, surpassing the estimated loss of $0.46 per share.Funds From Operations (FFO): Posted FFO of $22.0 million or $0.15 per diluted share, indicating a decrease from the previous year's $48.5 million or $0.34 per diluted share.Adjusted Funds From Operations (AFFO): AFFO stood at $28.5 million or $0.19 per diluted share, compared to $35.0 million or $0.24 per diluted share in the prior year.Leasing Activity: Executed 73 new and renewal leases totaling 508,615 square feet, highlighting robust leasing momentum.Same-Store Cash NOI: Decreased to $108.3 million from $124.4 million, primarily due to tenant move-outs at key properties.

Warning! GuruFocus has detected 10 Warning Signs with HPP.

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