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Hudson Pacific Properties(HPP) - 2022 Q2 - Quarterly Report
2022-07-29 18:19
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________ FORM 10-Q ______________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-34789 (Hudson Pacific Properties, Inc.) Commiss ...
Hudson Pacific Properties(HPP) - 2022 Q2 - Earnings Call Transcript
2022-07-27 22:17
Hudson Pacific Properties, Inc. (NYSE:HPP) Q2 2022 Results Conference Call July 27, 2022 2:00 PM ET Company Participants Laura Campbell - EVP, IR & Marketing Victor Coleman - Chairman, CEO Mark Lammas - President Harout Diramerian - CFO Art Suazo - EVP of Leasing Conference Call Participants Alexander Goldfarb - Piper Sandler Daniel Ismail - Green Street David Rodgers - Baird Jamie Feldman - Bank of America Michael Griffin - Citi Tayo Okusanya - Credit Suisse Ronald Kamdem - Morgan Stanley Vikram Malhotr ...
Hudson Pacific Properties(HPP) - 2022 Q1 - Quarterly Report
2022-04-29 18:42
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________ FORM 10-Q ______________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Hudson Pacific Properties, L.P. Maryland (State or other jurisdiction of incorporation or organization) 11601 Wilshire Blv ...
Hudson Pacific Properties(HPP) - 2022 Q1 - Earnings Call Transcript
2022-04-29 01:44
Financial Data and Key Metrics Changes - Revenue for Q1 2022 increased by 14.7% to $244.5 million compared to Q1 2021 [31] - FFO excluding specified items rose by 3.3% to $75.2 million, or $0.50 per diluted share [31] - AFFO grew by 11.8% to $58.6 million, while same-store property cash NOI increased by 1.4% to $120.3 million [33] Business Line Data and Key Metrics Changes - Over 500,000 square feet of leases were signed in the quarter, with a 12% GAAP and 5.8% cash increase in rents from prior levels [19] - The in-service office portfolio ended the quarter at 91.1% occupied and 92.3% leased [21] - The leasing pipeline includes 2.2 million square feet of activity, up about 35% from the long-term average [21] Market Data and Key Metrics Changes - The Vancouver market fundamentals remain strong with sub 6% vacancy [28] - The South Lake Union submarket in Seattle has a vacancy rate below 10% [26] - Demand for large tenants in Silicon Valley and the Peninsula has notably increased, with significant leasing activity reported [50] Company Strategy and Development Direction - The company aims to create shareholder value by selectively growing its real estate portfolio, focusing on tech and media industries [6][7] - The strategy includes pursuing capital recycling opportunities and enhancing ESG leadership [5][12] - The company plans to capitalize on embedded development opportunities and pursue attractive acquisitions in a disciplined manner [9][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the leasing market, noting a positive momentum in demand and active deals [48] - The company anticipates continued growth in same-store property cash NOI, despite some short-term fluctuations [37] - Management highlighted the importance of ESG initiatives and their integration into the company's strategy [13][15] Other Important Information - The company has repurchased $380 million of common stock over the last four years, with plans to reach $580 million by the end of the third quarter [12] - The anticipated proceeds from asset sales are expected to be between $325 million and $350 million, which will be used to pay down credit facilities and fund development [29] Q&A Session Summary Question: Can you talk about the change in leasing or same-store NOI presentation? - Management explained that the change was made to simplify financials and align with peers, with a minor sequential decline attributed to both office and media [40][42] Question: What drove the decline in occupancy? - The decline was primarily due to a significant tenant, Dell, vacating space, but overall there was positive net absorption without that impact [52][54] Question: Can you elaborate on the Washington 1000 project? - Management expressed confidence in the project due to attractive all-in costs and strong tenant demand in the South Lake Union submarket [56][58] Question: How does the company view the studio and office split in guidance? - Management clarified that combining guidance is consistent with industry practices and does not indicate unpredictability in studio demand [62][64] Question: What is the outlook for interest expense? - The increase in interest expense is attributed to the updated LIBOR curve, and the company plans to use asset sales to pay down debt [110][112]
Hudson Pacific Properties(HPP) - 2021 Q4 - Annual Report
2022-02-18 20:11
FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_____to_____ Commission file number 001-34789 (Hudson Pacific Properties, Inc.) Commission file number 333-202799-01 (Hudson Pacific Properties, L.P.) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Hudson Pacifi ...
Hudson Pacific Properties(HPP) - 2021 Q4 - Earnings Call Transcript
2022-02-18 02:48
Hudson Pacific Properties, Inc. (NYSE:HPP) Q4 2021 Earnings Conference Call February 17, 2022 2:00 PM ET Company Participants Laura Campbell - Executive Vice President, Investor Relations and Marketing Victor Coleman - Chief Executive Officer and Chairman Mark Lammas - President Harout Diramerian - Chief Financial Officer Art Suazo - Executive Vice President, Leasing Conference Call Participants Craig Mailman - KeyBanc Capital Markets John Kim - BMO Capital Markets Manny Korchman - Citi Jamie Feldman - Bank ...
Hudson Pacific Properties(HPP) - 2022 Q4 - Earnings Call Presentation
2022-02-17 07:39
| --- | --- | --- | --- | |----------------------------------------------|-------|-----------------------------------------|-------| | | | | | | | | | | | | | | | | | | | | | UDSON | | | | | P A C I F I C PROPERTIES | | | | | SUPPLEMENTAL INFORMATION FOURTH QUARTER 2021 | | | | | | | REIMAGINING NOW. TO CREATE WHAT'S NEXT. | | Hudson Pacific Properties, Inc. Supplemental Information | Fourth Quarter 2021 | --- | --- | |-------|-------------------------------------------------------------- ...
Hudson Pacific Properties(HPP) - 2021 Q3 - Earnings Call Presentation
2021-11-01 13:47
| --- | --- | --- | --- | |---------------------------------------------|-------|-----------------------------------------|-------| | | | | | | | | | | | | | | | | UDSON | | | | | P A C I F I C PROPERTIES | | | | | SUPPLEMENTAL INFORMATION THIRD QUARTER 2021 | | | | | | | REIMAGINING NOW. TO CREATE WHAT'S NEXT. | | Hudson Pacific Properties, Inc. Supplemental Information | Third Quarter 2021 | --- | --- | |-------|---------------------------------------------------------------------------------------------- ...
Hudson Pacific Properties(HPP) - 2021 Q3 - Quarterly Report
2021-10-29 20:11
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________ FORM 10-Q ______________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______ Commission File Number: 001-34789 (Hudson Pacific Properties, Inc.) Co ...
Hudson Pacific Properties(HPP) - 2021 Q3 - Earnings Call Transcript
2021-10-28 12:23
Hudson Pacific Properties, Inc. (NYSE:HPP) Q3 2021 Earnings Conference Call October 27, 2021 2:00 PM ET Company Participants Laura Campbell - EVP, IR & Marketing Victor Coleman - Chairman and CEO Mark Lammas - President Harout Diramerian - CFO Conference Call Participants Craig Mailman - KeyBanc Capital Markets Alexander Goldfarb - Piper Sandler Jamie Feldman - Bank of America Merrill Lynch Manny Korchman - Citi John Kim - BMO Capital Markets Blaine Heck - Wells Fargo Securities Ronald Kamdem - Morgan ...