Hudson Pacific Properties
Real estate investment trust pairing Class-A office towers with Hollywood studio and soundstage properties.
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Profile
Owns and operates Class-A office buildings and film/TV studio properties as a single real estate investment trust catering to technology and media tenants, with holdings concentrated across West Coast innovation hubs and Hollywood studio lots.
Owns and operates Class-A office buildings alongside film and television studio properties, combining both under one real estate investment trust built for technology and media tenants.
Office holdings concentrate in West Coast innovation hubs — Los Angeles, the San Francisco Bay Area, Silicon Valley, Seattle, and Vancouver. The studio segment is built around the Sunset Studios lots in Hollywood and a New York soundstage totaling 45 owned sound stages, supported by a production-services business renting vehicles, lighting, and grip equipment.
Most revenue comes from office leasing, while the studio segment tracks the pace of Hollywood and New York production activity. Founded in 2006 and listed on the NYSE in 2010, it is the only publicly traded owner-operator pairing premier office and studio real estate under one roof.
Company facts
Categories
Key statistics
Year to date +17.2% · Average volume (30d) 704.5K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 10, 2026 | Goldman Sachs | Reiterate | Neutral | $12 | $16 | |
| Aug 7, 2026 | Cantor Fitzgerald | Reiterate | Overweight | $13 | $17 | |
| Aug 6, 2026 | Piper Sandler | Upgrade | Neutral | Overweight | $12 | $18 |
| Jul 22, 2026 | Morgan Stanley | Reiterate | Underweight | $8 | $9 | |
| Jul 21, 2026 | Mizuho Securities | Target | $14 | $17 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | −$0.72 | −$1.62 | −124.0% | $181.8M | $188.3M | +3.6% | +7.08% |
| May 7, 2026Q1 FY26 | $0.18 | $0.82 | +355.6% | $175.1M | $181.9M | +3.8% | −6.97% |
| Feb 26, 2026Q4 FY25 | $0.20 | $0.21 | +5.0% | $187.2M | $256.0M | +36.8% | −5.85% |
| Nov 5, 2025Q3 FY25 | $0.14 | $0.28 | +100.0% | $170.3M | $186.6M | +9.6% | −7.88% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $198.5M | $190.0M | $186.6M | $256.0M | $181.9M | $188.3M | |
| Gross profit | $85.2M | $81.9M | $82.7M | $153.6M | −$81.1M | $84.6M | |
| Operating income | −$26.4M | −$40.6M | −$25.1M | $47.5M | −$14.9M | −$9.5M | |
| Net income | −$71.9M | −$80.2M | −$133.1M | −$276.4M | −$48.0M | −$99.5M | |
| Diluted EPS | −$3.71 | −$2.87 | −$2.10 | −$4.31 | −$0.82 | −$1.62 | |
| Gross margin | 42.9% | 43.1% | 44.3% | 60.0% | -44.6% | 44.9% | |
| Operating margin | -13.3% | -21.4% | -13.5% | 18.6% | -8.2% | -5.1% |
Fiscal years (4-quarter sums)FY21 $898.2M · FY22 $1.03B · FY23 $949.2M · FY24 $842.1M · FY25 $831.1M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $80.8M · Total debt $3.74B · Total assets $7.17B · Shareholders' equity $2.81B
Dividends
Last cut to $0.05 from $0.125 in Mar 2024.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 17, 2024 | Jun 17 | Jun 27 | $0.05 | |
| Mar 15, 2024 | Mar 18 | Mar 28 | $0.05 | cut from $0.125 |
| Jun 16, 2023 | Jun 20 | Jun 30 | $0.125 | cut from $0.25 |
| Mar 17, 2023 | Mar 20 | Mar 30 | $0.25 | |
| Dec 16, 2022 | Dec 19 | Dec 29 | $0.25 | |
| Sep 16, 2022 | Sep 19 | Sep 29 | $0.25 | |
| Jun 16, 2022 | Jun 20 | Jun 30 | $0.25 | |
| Mar 18, 2022 | Mar 21 | Mar 31 | $0.25 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 54.24M · Float 52.83M · 97.4% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Cohen & Steers, Inc. | 9.85M | 18.15% | 13F | Aug 14, 2026 |
| BlackRock, Inc. | 6.77M | 12.48% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 2.93M | 5.41% | 13F | Aug 13, 2026 |
| T. Rowe Price Investment Management, Inc. | 2.84M | 5.24% | 13F | Aug 14, 2026 |
| Philosophy Capital Management LLC | 2.76M | 5.10% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 11, 2026 | Jon E. Bortz | director | +25,000 | $13.40 |
| Mar 30, 2026 | T. Ritson Ferguson | director | +16,000 | $5.97 |
Peers
- Kilroy Realty
West Coast Class-A office/life-science landlord across LA, Bay Area, Seattle
- BXP
Largest US office REIT, directly competing in SF, Silicon Valley, LA, Seattle
- Douglas Emmett
Dominant West LA office landlord across the exact Westside submarkets
- Vornado Realty Trust
Manhattan office giant and Sunset Pier 94 Studios JV co-investor
- American Assets Trust
Diversified West Coast REIT with partial office overlap in SF and Bellevue
- SL Green Realty
Manhattan's largest office landlord, overlapping via media tenants and capital
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Hudson Pacific Properties | $13.14 | −0.23% | $712.7M | — | — | 0.9 | −0.9% |
| Kilroy Realty | $36.21 | −0.03% | $4.21B | 25.3 | 86.1 | 3.8 | −6.0% |
| BXP | $68.89 | −0.61% | $11.05B | 37.3 | 33.8 | 3.1 | +3.1% |
| Douglas Emmett | $11.76 | 0.00% | $1.97B | — | — | 2.0 | +1.6% |
| Vornado Realty Trust | $38.20 | 0.00% | $7.19B | 1,154.1 | — | 3.9 | +4.7% |
| American Assets Trust | $22.60 | +0.71% | $1.38B | 83.3 | 57.5 | 3.1 | +1.4% |
| SL Green Realty | $57.95 | +0.68% | $4.09B | — | — | 3.9 | −29.0% |
| Median | 60.3 | 57.5 | 3.5 | +1.5% |