New York, Feb 27, 2026, 08:28 ET — Premarket
Key points:
- Hudson Pacific Properties shares jumped 20.9% on Thursday after the company issued a 2026 funds-from-operations outlook.
- Results showed a steep quarterly net loss, reflecting a non-cash impairment tied to its Quixote business and other items.
- Traders now focus on leasing progress, debt timelines, and rate-sensitive REIT sentiment with U.S. inflation data due at 8:30 a.m. ET.
Hudson Pacific Properties Inc shares surged on Thursday and were last quoted around $7.70 in extended trade, after the office-and-studio landlord reinstated full-year guidance and pointed to fresh leasing momentum. https://www.marketwatch.com/investing/stoc…
The move matters because Hudson Pacific has been trading like a balance-sheet story: investors have punished office REITs for vacancies and refinancing risk, and the company is trying to show it has runway and a path back to steadier cash generation.
It also lands at an awkward moment for rate-sensitive real estate stocks. With inflation prints and bond yields driving daily sentiment, even company-specific rallies can fade fast if rates pop.
Hudson Pacific late Thursday reported a fourth-quarter net loss attributable to common stockholders of $277.9 million, or $4.31 per diluted share, and said the period included a non-cash, non-real-estate impairment of Quixote. It posted total revenue of $256.0 million, helped by a lease termination fee tied to the sale of its Element LA office campus. https://www.nasdaq.com/press-release/hudso…
The company’s FFO excluding specified items was $13.6 million, or $0.21 per diluted share, it said. FFO, or funds from operations, is a REIT yardstick that strips out property depreciation and some one-off items to better track operating performance.
For 2026, Hudson Pacific issued an FFO outlook of $0.96 to $1.06 per diluted share, with no specified items baked in, according to the release.
Hudson Pacific said it sold Element LA for $150 million and received a separate $81 million lease termination payment, using net proceeds to repay $206 million of commercial mortgage-backed securities debt linked to the property, with the remainder tagged for general corporate purposes. https://www.nasdaq.com/press-release/hudso…
On the balance sheet, the company reported total liquidity of $933.6 million at year-end, and said it had no debt maturities until the third quarter of 2026. It also reported office occupancy of 76.3% and leasing of 77.0% at quarter end, while its in-service studio portfolio and stages were 67.1% and 69.1% leased, respectively, over the trailing 12 months. https://www.nasdaq.com/press-release/hudso…
Executives leaned into the “runway” message on the earnings call. CFO Harout Krikor Diramerian said the company was working on a resolution for its Collared Media portfolio ahead of an August 2026 maturity date and remained “fully engaged with Netflix” on the Los Angeles office portfolio tied to that relationship. https://www.fool.com/earnings/call-transcr…
But the story still has sharp edges. Management said same-store property cash net operating income — essentially property-level income before financing costs — is expected to decline in 2026, and executives flagged uncertainty around the performance of the business they discussed on the call as “Coyote,” including the possibility of further write-downs if conditions do not improve. https://www.fool.com/earnings/call-transcr…
A filing showed Hudson Pacific furnished its quarterly press release and supplemental operating package in a Form 8-K dated Feb. 26. https://www.sec.gov/Archives/edgar/data/14…
Near term, traders in REITs will be watching the 8:30 a.m. ET U.S. producer price index release for January — a key input into rate expectations — and next week’s February U.S. jobs report on March 6 for any signal that could swing yields again. https://www.bls.gov/schedule/news_release/… https://www.bls.gov/schedule/news_release/…
