Hudson Pacific Properties, Inc. (HPP) Q3 2025 Earnings Call Transcript
Total Revenues $186.6 million compared to $200.4 million in the prior year, a decrease primarily resulting from asset sales and lower occupancy as the company continues working through its lease-up process.
G&A Expenses $13.7 million compared to $90.5 million in the prior year, representing a 30% reduction due to successful implementation of organizational efficiency measures.
FFO (Funds From Operations) $16.7 million or $0.04 per diluted share compared to $14.3 million or $0.10 per diluted share in the prior year, a 17% increase due to improved G&A, interest expense, and studio NOI, partially offset by lower office NOI.
Same-Store Cash NOI $89.3 million compared to $100 million in the prior year, mostly due to lower office occupancy.
Liquidity Position $1 billion, comprised of $190.4 million of unrestricted cash and cash equivalents and $795.3 million of undrawn credit facility capacity.
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Oversold Real Estate Stocks Present Investment Opportunities: HPP, MMI, SBAC
- HPP Stock Decline: Hudson Pacific Properties has an RSI of 25.2, with its stock falling approximately 20% over the past month; on January 9, BMO Capital downgraded its rating to Market Perform and cut the price target from $16 to $11, indicating significant market pressure on the company.
- MMI Steady Performance: Marcus & Millichap reported in-line earnings for Q3, despite a 6% drop in stock price over the past month and an RSI of 28.1; the CEO noted the company's strength in navigating complex market conditions, reflecting resilience in the industry.
- SBAC Rating Adjustment: SBA Communications has an RSI of 28.3, with a 5% decline in stock price over the past five days; Wells Fargo lowered its price target from $215 to $205, indicating cautious market sentiment regarding its future performance.
- Market Trend Analysis: Benzinga Pro's charting tool has identified trends in these oversold stocks, allowing investors to leverage this data to assess potential investment opportunities, particularly amid volatility in the real estate sector.

BMO Downgrades Multiple Companies' Ratings and Price Targets
- Rating Downgrade: BMO Capital analyst Juan Sanabria downgraded American Homes 4 Rent from Outperform to Market Perform while maintaining a price target of $37, with shares closing at $31.63 on Thursday, indicating market caution regarding its future performance.
- Price Target Reduction: Baird analyst Ben Kallo downgraded GE Vernova Inc from Outperform to Neutral and cut the price target from $816 to $649, reflecting concerns about its growth potential, as shares closed at $628.40 on Thursday.
- Declining Market Performance: BMO Capital analyst John Kim downgraded Hudson Pacific Properties Inc from Outperform to Market Perform, lowering the price target from $16 to $11, with shares closing at $10.08, suggesting weakened market confidence in its profitability.
- Ongoing Downgrades: Additionally, John Kim downgraded Equity Residential from Outperform to Market Perform, reducing the price target from $70 to $68, while shares closed at $62.87 on Thursday, indicating market caution regarding its future growth prospects.






