Hudson Pacific Properties, Inc 8-K, filed Nov 5, 2026

Hudson Pacific Properties, Inc. (HPP)

8-K 2026-11-05 For: 2026-11-05

Added on November 05, 2026

About this 8-K

Hudson Pacific Properties, Inc filed this 8-K on November 5, 2026.

Hudson Pacific Properties reported fifth-quarter office occupancy growth to 85.6%, executed 533,708 square feet of leases, and raised full-year 2026 Core FFO guidance to $1.15 to $1.21 per diluted share from $1.12 to $1.20. AI summary

Items reported

Item 2.02: Financial results
Item 7.01: Regulation FD disclosure
Item 9.01: Financial statements and exhibits

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11601 Wilshire Blvd., Ninth Floor
Los Angeles,	California	90025
(Address of principal executive offices)		(Zip Code)


☐						Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐						Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐						Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐						Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Exhibit No.						Description
99.1**						Press release dated November 5, 2026 regarding the Company’s financial results for the quarter ended September 30, 2026.
99.2**						Supplemental Operating and Financial Data for the quarter ended September 30, 2026.
104**						Cover Page Interactive Data File (embedded within the Inline XBRL document)


	Full-Year 2026
	Assumptions
Metric	Low	High

Average in-service office occupancy	82.0%	84.0%
Growth in same-store cash NOI(1)(2)	0.00%	1.00%
GAAP non-cash revenue(3)	$8,500	$13,500
GAAP non-cash expense(4)	$(5,500)	$(7,500)
General and administrative expenses(5)	$(47,000)	$(53,000)
Interest expense(6)	$(151,500)	$(161,500)
Non-real estate depreciation and amortization	$(11,500)	$(13,500)
FFO from unconsolidated joint ventures	$2,500	$4,500
FFO attributable to non-controlling interests	$(20,500)	$(24,500)
FFO attributable to preferred units/shares	$(20,000)	$(20,000)
Weighted average common stock/units outstanding—diluted(7)	65,200	66,200


	9/30/26		12/31/25
	(Unaudited)
ASSETS
Investment in real estate, at cost	$	7,420,950	$	7,793,299
Accumulated depreciation and amortization	(2,039,688)		(1,953,048)
Investment in real estate, net	5,381,262		5,840,251
Non-real estate property, plant and equipment, net	51,668		72,397
Cash and cash equivalents	160,533		138,358
Restricted cash	44,035		23,770
Accounts receivable, net	11,309		14,923
Straight-line rent receivables, net	207,933		195,425
Deferred leasing costs and intangible assets, net	389,735		307,390
Operating lease right-of-use assets	283,042		333,258
Prepaid expenses and other assets, net	93,189		86,607
Investment in unconsolidated real estate entities	253,566		246,835
Goodwill	8,754		8,754
Assets associated with real estate held for sale	84,321		—
TOTAL ASSETS	$	6,969,347	$	7,267,968

LIABILITIES AND EQUITY
Liabilities
Unsecured and secured debt, net	$	3,347,461	$	3,351,458
Joint venture partner debt	66,136		66,136
Accounts payable, accrued liabilities and other	319,664		209,382
Operating lease liabilities	309,907		343,886
Intangible liabilities, net	14,783		17,772
Security deposits, prepaid rent and other	88,175		74,369
Liabilities associated with real estate held for sale	1,340		—
Total liabilities	4,147,466		4,063,003

Redeemable preferred units of the operating partnership	2,795		2,795
Redeemable non-controlling interest in consolidated real estate entities	49,591		50,581

Equity
HPP stockholders' equity:
4.750% Series C cumulative redeemable preferred stock, $0.01 par value, $25.00 per share liquidation preference, 18,400,000 authorized; 17,000,000 shares issued and outstanding at 9/30/26 and 12/31/25	425,000		425,000
Common stock, $0.01 par value, 103,200,000 authorized, 54,277,747 and 54,227,096 shares issued and outstanding at 9/30/26 and 12/31/25, respectively.	529		529
Additional paid-in capital	2,173,015		2,548,488
Accumulated other comprehensive income (loss)	5,901		(1,860)

Total HPP stockholders' equity	2,604,445		2,972,157
Non-controlling interest—members in consolidated real estate entities	57,028		67,869
Non-controlling interest—units in the operating partnership	108,022		111,563
Total equity	2,769,495		3,151,589
TOTAL LIABILITIES AND EQUITY	$	6,969,347	$	7,267,968


	Three Months Ended				Nine Months Ended
	9/30/26		9/30/25		9/30/26		9/30/25

REVENUES
Office
Rental revenues	$	144,743	$	148,290	$	439,570	$	457,216
Service and other revenues	3,868		6,289		10,836		18,407
Total office revenues	148,611		154,579		450,406		475,623
Studio
Rental revenues	12,492		13,567		39,778		41,108
Service and other revenues	19,790		18,471		60,859		58,347
Total studio revenues	32,282		32,038		100,637		99,455
Total revenues	180,893		186,617		551,043		575,078
OPERATING EXPENSES
Office operating expenses	71,066		71,577		210,423		215,355
Studio operating expenses	27,412		32,382		93,260		109,915
General and administrative	12,341		13,709		36,918		59,968

Depreciation and amortization	77,859		94,085		240,714		281,921
Total operating expenses	188,678		211,753		581,315		667,159
OTHER (EXPENSES) INCOME
Loss from unconsolidated real estate entities	(503)		(744)		(1,899)		(2,203)
Fee income	1,049		1,082		3,120		3,917
Interest expense	(40,938)		(41,726)		(117,408)		(133,368)
Interest income	713		2,212		2,928		4,770
Management services reimbursement income—unconsolidated real estate entities	1,071		1,084		3,293		3,182
Management services expense—unconsolidated real estate entities	(1,071)		(1,084)		(3,293)		(3,182)
Transaction-related expenses	(262)		(139)		(1,045)		(590)
Unrealized loss on non-real estate investments	(9,189)		(2,098)		(11,991)		(2,335)
(Loss) gain on sale of real estate, net	(20,284)		—		(20,284)		10,007
Impairment loss	(147,825)		—		(198,265)		(18,476)
Loss on deconsolidation of real estate entity	—		(77,907)		—		(77,907)
Loss on extinguishment of debt	—		(207)		—		(3,702)
Gain (loss) on lease terminations, sale of assets and other	3,153		601		(1,605)		516

Total other expenses	(214,086)		(118,926)		(346,449)		(219,371)
Loss before income tax provision	(221,871)		(144,062)		(376,721)		(311,452)
Income tax provision	(331)		(24)		(1,073)		(672)
Net loss	(222,202)		(144,086)		(377,794)		(312,124)
Net income attributable to Series A preferred units	(44)		(53)		(132)		(320)
Net income attributable to Series C preferred shares	(5,047)		(5,047)		(15,141)		(15,141)

Net loss attributable to non-controlling interest in consolidated real estate entities	3,330		9,966		6,787		24,108
Net loss attributable to redeemable non-controlling interest in consolidated real estate entities	1,053		974		2,783		2,771
Net loss attributable to common units in the operating partnership	4,853		1,779		7,737		6,382
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	$	(218,057)	$	(136,467)	$	(375,760)	$	(294,324)

BASIC AND DILUTED PER SHARE AMOUNTS
Net loss attributable to common stockholders—basic	$	(3.38)	$	(2.12)	$	(5.83)	$	(7.74)
Net loss attributable to common stockholders—diluted	$	(3.38)	$	(2.12)	$	(5.83)	$	(7.74)
Weighted average shares of common stock outstanding—basic	64,492		64,433		64,477		38,023
Weighted average shares of common stock outstanding—diluted	64,492		64,433		64,477		38,023


(d)			Exhibits.


	Three Months Ended				Nine Months Ended
	9/30/26		9/30/25		9/30/26		9/30/25
RECONCILIATION OF NET LOSS TO FUNDS FROM OPERATIONS (“FFO”)(1):
Net loss	$	(222,202)	$	(144,086)	$	(377,794)	$	(312,124)
Adjustments:
Depreciation and amortization—consolidated	77,859		94,085		240,714		281,921
Depreciation and amortization—non-real estate assets	(3,516)		(8,919)		(10,555)		(27,353)
Depreciation and amortization—HPP's share from unconsolidated real estate entities(2)	1,719		1,250		4,922		3,408
Loss on deconsolidation of real estate entity	—		77,907		—		77,907
Loss (gain) on sale of real estate, net	20,284		—		20,284		(10,007)
Impairment loss—real estate assets	147,825		—		198,265		18,476
Unrealized loss on non-real estate investments	9,189		2,098		11,991		2,335

FFO attributable to non-controlling interests	(4,647)		(2,611)		(17,522)		(12,616)
FFO attributable to preferred shares and units	(5,091)		(5,100)		(15,273)		(15,461)
FFO to common stock/unit holders	21,420		14,624		55,032		6,486
Adjustments:
Transaction-related expenses	262		139		1,045		590
Non-core Quixote lease terminations	(2,474)		622		2,537		7,109
Non-core Quixote Studios & Services	1,911		—		5,463		—
Prior-period property tax refund	(1,894)		—		(4,141)		—
Gain on sale of non-real estate assets	(636)		—		(636)		—

Refundable payroll tax credit interest income	—		—		(543)		—
Loan swap non-cash reevaluation	—		—		(488)		682
Early debt repayment expenses	—		114		—		5,185
Employee separation costs (cost-savings initiatives)	—		1,163		—		1,163
Forfeiture of non-cash compensation agreements	—		—		—		14,280
Termination of Quixote non-compete agreement (cost-savings initiatives)	—		—		—		1,402
Write-off of transportation assets (cost-savings initiatives)	—		—		—		626

Core FFO(3) to common stock/unit holders	$	18,589	$	16,662	$	58,269	$	37,523

Weighted average common stock/units outstanding—diluted	65,902		65,298		65,894		38,857
FFO per common stock/unit—diluted	$	0.33	$	0.22	$	0.84	$	0.17
Core FFO per common stock/unit—diluted	$	0.28	$	0.26	$	0.88	$	0.97


	Three Months Ended				Nine Months Ended
	9/30/26		9/30/25		9/30/26		9/30/25

Core FFO	$	18,589	$	16,662	$	58,269	$	37,523
Adjustments:
GAAP non-cash revenue(2)	(2,715)		(270)		(9,275)		(4,645)
GAAP non-cash expense(3)	1,213		1,289		4,758		4,781
Non-real estate depreciation and amortization	3,516		8,919		10,555		25,325
Non-cash interest expense	3,768		2,556		7,395		11,730
Share/unit-based compensation expense	1,619		3,553		5,052		12,252
Recurring capital expenditures, tenant improvements and lease commissions	(31,084)		(20,383)		(96,140)		(78,998)
AFFO	$	(5,094)	$	12,326	$	(19,386)	$	7,968

Weighted average common stock/units outstanding—diluted	65,902		65,298		65,894		38,857
AFFO per common stock/unit—diluted	$	(0.08)	$	0.19	$	(0.29)	$	0.21