Published on 12 Feb 2024 on GuruFocus.com via Yahoo Finance
Hudson Pacific Properties Inc Reports Mixed Q4 Results and Provides 2024 Outlook
Total Revenue: Decreased to $223.4 million in Q4 2023 from $269.9 million in Q4 2022.Net Loss: Widened to $98.0 million, or $0.70 per diluted share, compared to a net loss of $12.0 million, or $0.09 per diluted share.FFO: Declined to $19.6 million, or $0.14 per diluted share, excluding specified items.AFFO: Stood at $21.5 million, or $0.15 per diluted share.Leasing Activity: Executed 77 new and renewal leases totaling 431,980 square feet.Dispositions: Completed $889 million, including sales of key properties and debt tranches.2024 Outlook: FFO guidance set between $1.00 and $1.10 per diluted share.
Warning! GuruFocus has detected 8 Warning Signs with HPP.
On February 12, 2024, Hudson Pacific Properties Inc (NYSE:HPP), a prominent real estate investment trust, released its 8-K filing, detailing the financial results for the fourth quarter of 2023. The company, known for its portfolio of office and studio properties catering to tech and media tenants on the West Coast, faced a challenging quarter marked by reduced revenues and a significant net loss.