HPP · Hudson Pacific Properties, Inc.
Hudson Pacific Properties, Inc. is a real estate investment trust serving dynamic tech and media tenants in global epicenters for these synergistic, converging and secular growth industries. Hudson Pacific's unique and high-barrier tech and media focus leverages a full-service, end-to-end value creation platform forged through deep strategic relationships and niche expertise across identifying, acquiring, transforming and developing properties into world-class amenitized, collaborative and sustainable office and studio space. Hudson Pacific Properties, Inc. was incorporated in 1997 and is based in Los Angeles, United States.
Cap structure and valuation
| Cap structure | |
|---|---|
| SP | $13.35 |
| SO | 54.2M |
| Options | 0.0M |
| Warrants | 10.2M |
| FD SO | 64.5M |
| MC | $860.6M |
| Cash | $138.0M |
| Total debt | — |
| EV | $722.6M |
| TTM Multiples | |
|---|---|
| EV / Revenue | 0.9x |
| EV / EBITDA | — |
| MC / Net Income | — |
| EV / FCF | — |
| MC / FCF | — |
| Ownership & coverage | |
|---|---|
| Institutional | 117.8% |
| Insiders | 2.5% |
| # Institutions | 280 |
| Analysts | 12 |
| Consensus | Hold |
| Avg target | $16.58 |
| Short % float | 1.0% |
| Days to cover | 0.60 |
MC = SP × FD SO. EV = MC + Debt − Cash. SP = previous yfinance close. Balance-sheet figures as of 2026-05-01. Multiples use TTM (sum of last 4 quarters); shown as "—" when the denominator is zero or negative, or when fewer than four quarters are reported — a partial sum is not a trailing twelve months. Ownership & coverage per Yahoo Finance as of 2026-08-12 — institutional % is 13F-based, so it can lag a quarter and exceed 100% on share-count timing. Short interest per FINRA bi-monthly reporting, as of 2026-07-31; the float denominator can be unreliable on tiny floats.
Financial statements
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Total Revenue | 181.85 | 256.03 | 186.62 | 190.00 |
| Revenue YoY % | (8.4%) | 22.1% | (6.9%) | (12.8%) |
| Gross Profit | 80.32 | 153.56 | 82.66 | 81.95 |
| Gross Profit YoY % | (5.7%) | 63.8% | (3.4%) | (21.8%) |
| Gross Margin % | 44.2% | 60.0% | 44.3% | 43.1% |
| SG&A | 12.57 | 12.98 | 13.71 | 27.78 |
| Interest Expense | 37.99 | 38.85 | 41.73 | 48.14 |
| Pretax Income | (50.56) | (281.12) | (144.06) | (87.31) |
| Tax Provision | 0.35 | (0.94) | 0.02 | 0.45 |
| Net Income | (50.90) | (280.17) | (144.09) | (87.76) |
| Net Margin % | (28.0%) | (109.4%) | (77.2%) | (46.2%) |
| Diluted EPS | -$0.82 | -$11.70 | -$0.30 | -$0.41 |
| Basic EPS | -$0.82 | -$11.70 | -$0.30 | -$0.41 |
| Diluted Avg Shares | 64.5 | — | 451.0 | 202.7 |
| Basic Avg Shares | 64.5 | — | 451.0 | 202.7 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Total Revenue | 814.50 | 831.11 | 842.08 | 952.30 | 1,026.22 |
| Revenue YoY % | (2.0%) | (1.3%) | (11.6%) | (7.2%) | — |
| Gross Profit | 398.48 | 403.36 | 388.00 | 501.83 | 612.41 |
| Gross Profit YoY % | (1.2%) | 4.0% | (22.7%) | (18.1%) | — |
| Gross Margin % | 48.9% | 48.5% | 46.1% | 52.7% | 59.7% |
| SG&A | 67.05 | 72.95 | 79.45 | 74.96 | 79.50 |
| Interest Expense | 166.71 | 172.22 | 177.39 | 214.41 | 149.90 |
| Pretax Income | (563.04) | (592.57) | (379.76) | (163.90) | (16.52) |
| Tax Provision | (0.12) | (0.27) | 1.64 | 6.80 | 0.00 |
| Net Income | (562.92) | (592.30) | (381.41) | (170.70) | (16.52) |
| Net Income to Common | — | (592.30) | (381.40) | (170.70) | (16.50) |
| Net Margin % | (69.1%) | (71.3%) | (45.3%) | (17.9%) | (1.6%) |
| Diluted EPS | -$13.23 | -$12.81 | -$18.05 | -$9.54 | -$0.39 |
| Basic EPS | -$13.23 | -$12.81 | -$18.05 | -$9.54 | -$0.39 |
| Diluted Avg Shares | 64.5 | 44.7 | 20.2 | 20.1 | 143.7 |
| Basic Avg Shares | 64.5 | 44.7 | 20.2 | 20.1 | 143.7 |
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Cash & Equivalents | 138.01 | 138.36 | 190.44 | 236.03 |
| Net PPE | 73.03 | 72.40 | 131.64 | 129.25 |
| Operating Lease ROU | 327.92 | 333.26 | 338.37 | 347.70 |
| Goodwill | 8.75 | 8.75 | 156.53 | 156.53 |
| Intangible Assets | 307.90 | 307.39 | 361.61 | 351.28 |
| Long-term Investments | 248.18 | 246.84 | 243.35 | 242.78 |
| Other Assets | 6,126.51 | 6,160.98 | 6,373.85 | 6,662.48 |
| Total Assets | 7,230.30 | 7,267.97 | 7,795.79 | 8,126.05 |
| Other Liabilities | 4,083.00 | 4,063.00 | 4,310.39 | 4,440.94 |
| Total Liabilities | 4,083.00 | 4,063.00 | 4,310.39 | 4,440.94 |
| Total Equity | 3,094.63 | 3,151.59 | 3,433.34 | 3,630.33 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Cash & Equivalents | 138.01 | 138.36 | 63.26 | 100.39 | 255.76 |
| Inventory | — | — | — | — | 4.91 |
| Net PPE | 73.03 | 72.40 | 127.07 | 118.78 | 130.29 |
| Operating Lease ROU | 327.92 | 333.26 | 370.83 | 376.31 | 401.05 |
| Goodwill | 8.75 | 8.75 | 156.53 | 264.14 | 263.55 |
| Intangible Assets | 307.90 | 307.39 | 327.51 | 326.95 | 393.84 |
| Long-term Investments | 248.18 | 246.84 | 221.47 | 252.71 | 180.57 |
| Other Assets | 6,126.51 | 6,160.98 | 6,865.58 | 6,842.77 | 7,689.16 |
| Total Assets | 7,230.30 | 7,267.97 | 8,132.24 | 8,282.05 | 9,319.14 |
| Other Liabilities | 4,083.00 | 4,063.00 | 4,954.51 | 4,720.88 | 5,434.45 |
| Total Liabilities | 4,083.00 | 4,063.00 | 4,954.51 | 4,720.88 | 5,434.45 |
| Total Equity | 3,094.63 | 3,151.59 | 3,118.64 | 3,494.17 | 3,884.69 |
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Net Income | (50.90) | (280.17) | (144.09) | (87.76) |
| D&A | 80.72 | 93.05 | 94.08 | 94.75 |
| Stock-Based Comp | 1.94 | 3.79 | 3.58 | 17.89 |
| Δ Working Cap & Other | 12.53 | 242.64 | 79.60 | (26.92) |
| Operating Cash Flow | 44.29 | 59.30 | 33.18 | (2.04) |
| Other Investing | (34.31) | 106.94 | (56.02) | (24.02) |
| Investing Cash Flow | (34.31) | 106.94 | (56.02) | (24.02) |
| Stock Issuance | — | 0.00 | 0.00 | — |
| Dividends Paid | (0.56) | 0.00 | 0.00 | 0.00 |
| Other Financing | (9.11) | (218.57) | (29.84) | 159.26 |
| Financing Cash Flow | (9.67) | (218.56) | (29.84) | 159.26 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Net Income | (562.92) | (592.30) | (381.41) | (170.70) | (16.52) |
| D&A | 362.60 | 374.97 | 354.43 | 397.85 | 373.22 |
| Stock-Based Comp | 27.20 | 30.40 | 26.01 | 23.86 | 24.30 |
| Δ Working Cap & Other | 307.85 | 307.91 | 165.63 | (18.75) | (11.50) |
| Operating Cash Flow | 134.73 | 120.98 | 164.66 | 232.26 | 369.50 |
| Other Investing | (7.41) | 42.84 | (250.54) | 467.84 | (378.09) |
| Investing Cash Flow | (7.41) | 42.84 | (250.54) | 467.84 | (378.09) |
| Stock Issuance | — | 523.39 | 0.00 | 0.00 | 0.00 |
| Stock Buyback | — | 0.00 | 0.00 | (1.37) | (37.21) |
| Dividends Paid | (0.56) | (0.35) | (15.38) | (54.96) | (145.43) |
| Other Financing | (98.25) | (623.91) | 81.28 | (810.34) | 280.08 |
| Financing Cash Flow | (98.81) | (100.87) | 65.90 | (866.67) | 97.45 |
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Current Ratio | — | — | — | — |
| Quick Ratio | — | — | — | — |
| Debt / Equity | 1.32 | 1.29 | 1.26 | 1.22 |
| EBITDA Margin % | — | — | — | — |
| Working Capital | — | — | — | — |
| Net Debt | — | — | — | — |
| ROE % | (1.6%) | (8.9%) | (4.2%) | (2.4%) |
| ROA % | (0.7%) | (3.9%) | (1.8%) | (1.1%) |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Current Ratio | — | — | — | — | — |
| Quick Ratio | — | — | — | — | — |
| Debt / Equity | 1.32 | 1.29 | 1.59 | 1.35 | 1.40 |
| EBITDA Margin % | — | — | — | — | — |
| Working Capital | — | — | — | — | — |
| Net Debt | — | — | — | — | — |
| ROE % | (18.2%) | (18.8%) | (12.2%) | (4.9%) | (0.4%) |
| ROA % | (7.8%) | (8.1%) | (4.7%) | (2.1%) | (0.2%) |
Insider activity (last 2 years)
| Date Filed | Reporter | Relationship | Trans. Date | Code | Shares | Price | Total Value |
|---|---|---|---|---|---|---|---|
| 2026-08-11 | BORTZ JON E | Director | 2026-08-11 | P | 25,000 | $13.40 | $335,000 |
| 2026-06-01 | BORTZ JON E | Director | 2026-05-28 | A | 7,462 | — | $0 |
| 2026-06-01 | SHOLEM BARRY A | Director | 2026-05-28 | A | 7,462 | — | $0 |
| 2026-06-01 | FERGUSON T RITSON | Director | 2026-05-28 | A | 7,462 | — | $0 |
| 2026-06-01 | ANTENUCCI TED R | Director | 2026-05-28 | A | 7,462 | — | $0 |
| 2026-06-01 | HARRIS ROBERT L II | Director | 2026-05-28 | A | 7,462 | — | $0 |
| 2026-03-30 | FERGUSON T RITSON | Director | 2026-03-30 | P | 16,000 | $5.97 | $95,520 |
| 2026-02-18 | Gordon Drew | Officer (Chief Investment Officer) | 2026-02-16 | A | 9,719 | — | $0 |
| 2026-02-18 | Wattula Andy | Officer (Chief Operating Officer) | 2026-02-16 | A | 9,719 | — | $0 |
| 2026-02-18 | COLEMAN VICTOR J | Director, Officer (Chief Executive Officer) | 2026-02-16 | A | 77,757 | — | $0 |
| 2026-02-18 | LAMMAS MARK T | Officer (President) | 2026-02-16 | A | 34,018 | — | $0 |
| 2026-02-18 | Diramerian Harout Krikor | Officer (Chief Financial Officer) | 2026-02-16 | A | 12,149 | — | $0 |
| 2026-02-18 | Suazo Arthur X. | Officer (EVP, Leasing) | 2026-02-16 | A | 9,719 | — | $0 |
| 2026-02-18 | Tidwell Kay Lee | Officer (Executive VP, General Counsel) | 2026-02-16 | A | 9,719 | — | $0 |
| 2026-02-18 | Barton Christopher James | Officer (EVP,Development & Capital Inv) | 2026-02-16 | A | 9,719 | — | $0 |
| 2026-02-18 | Shimoda Sanford Dale | Officer (EVP, Finance) | 2026-02-16 | A | 7,775 | — | $0 |
| 2026-01-09 | COLEMAN VICTOR J | Director, Officer (Chief Executive Officer) | 2026-01-07 | A | 190,476 | — | $0 |
| 2026-01-09 | COLEMAN VICTOR J | Director, Officer (Chief Executive Officer) | 2026-01-07 | A | 95,238 | — | $0 |
| 2026-01-09 | Suazo Arthur X. | Officer (EVP, Leasing) | 2026-01-07 | A | 31,746 | — | $0 |
| 2026-01-09 | Diramerian Harout Krikor | Officer (Chief Financial Officer) | 2026-01-07 | A | 29,620 | — | $0 |
| 2026-01-09 | Diramerian Harout Krikor | Officer (Chief Financial Officer) | 2026-01-07 | A | 14,810 | — | $0 |
| 2026-01-09 | Wattula Andy | Officer (Chief Operating Officer) | 2026-01-07 | A | 25,396 | — | $0 |
| 2026-01-09 | LAMMAS MARK T | Officer (President) | 2026-01-07 | A | 87,301 | — | $0 |
| 2026-01-09 | LAMMAS MARK T | Officer (President) | 2026-01-07 | A | 43,650 | — | $0 |
| 2025-12-04 | BORTZ JON E | Director | 2025-12-02 | A | 2,932 | — | $0 |
| 2025-09-15 | FERGUSON T RITSON | Director | 2025-09-11 | A | 20,979 | — | $0 |
| 2025-06-16 | GLASER JONATHAN M | Director | 2025-06-12 | P | 448,430 | $2.23 | $999,999 |
| 2025-06-16 | HARRIS ROBERT L II | Director | 2025-06-12 | P | 44,843 | $2.23 | $100,000 |
| 2025-06-16 | ANTENUCCI TED R | Director | 2025-06-12 | P | 89,686 | $2.23 | $200,000 |
| 2025-06-16 | COLEMAN VICTOR J | Director, Officer (Chief Executive Officer) | 2025-06-12 | P | 224,215 | $2.23 | $499,999 |
| 2025-06-16 | Gordon Drew | Officer (Chief Investment Officer) | 2025-06-12 | P | 11,210 | $2.23 | $24,998 |
| 2025-06-16 | Suazo Arthur X. | Officer (EVP, Leasing) | 2025-06-12 | P | 22,421 | $2.23 | $49,999 |
| 2025-06-16 | Barton Christopher James | Officer (EVP,Development & Capital Inv) | 2025-06-12 | P | 8,968 | $2.23 | $19,999 |
| 2025-06-16 | SHOLEM BARRY A | Director | 2025-06-12 | P | 224,215 | $2.23 | $499,999 |
| 2025-06-16 | Burnough Erinn | Director | 2025-06-12 | P | 8,968 | $2.23 | $19,999 |
| 2025-06-16 | Wattula Andy | Officer (Chief Operating Officer) | 2025-06-12 | P | 11,210 | $2.23 | $24,998 |
| 2025-06-16 | Jaffe Steven M. | Officer (EVP, Business Affairs) | 2025-06-12 | P | 11,210 | $2.23 | $24,998 |
| 2025-06-16 | Diramerian Harout Krikor | Officer (Chief Financial Officer) | 2025-06-12 | P | 11,210 | $2.23 | $24,998 |
| 2025-06-16 | LAMMAS MARK T | Officer (President) | 2025-06-12 | P | 22,421 | $2.23 | $49,999 |
| 2025-06-16 | Tidwell Kay Lee | Officer (Executive VP, General Counsel) | 2025-06-12 | P | 11,210 | $2.23 | $24,998 |
| 2025-05-22 | SHOLEM BARRY A | Director | 2025-05-20 | A | 45,226 | — | $0 |
| 2025-05-22 | Burnough Erinn | Director | 2025-05-20 | A | 45,226 | — | $0 |
| 2025-05-22 | HARRIS ROBERT L II | Director | 2025-05-20 | A | 45,226 | — | $0 |
| 2025-05-22 | Linehan Mark David | Director | 2025-05-20 | A | 45,226 | — | $0 |
| 2025-05-22 | ANTENUCCI TED R | Director | 2025-05-20 | A | 45,226 | — | $0 |
| 2025-05-22 | Haubegger Christy | Director | 2025-05-20 | A | 45,226 | — | $0 |
| 2025-05-22 | GLASER JONATHAN M | Director | 2025-05-20 | A | 45,226 | — | $0 |
| 2025-05-22 | Nash Michael B. | Director | 2025-05-20 | A | 45,226 | — | $0 |
| 2025-05-22 | Wong Andrea L | Director | 2025-05-20 | A | 45,226 | — | $0 |
| 2025-01-28 | Wattula Andy | Officer (Chief Operating Officer) | 2025-01-22 | F | (4,889) | $2.93 | -$14,325 |
| 2025-01-28 | Gordon Drew | Officer (Chief Investment Officer) | 2025-01-22 | F | (3,237) | $2.93 | -$9,484 |
| 2025-01-03 | Suazo Arthur X. | Officer (EVP, Leasing) | 2025-01-01 | A | 371,287 | — | $0 |
| 2025-01-03 | Wattula Andy | Officer (Chief Operating Officer) | 2025-01-01 | A | 310,231 | — | $0 |
| 2025-01-03 | Shimoda Sanford Dale | Officer (EVP, Finance) | 2025-01-01 | A | 222,772 | — | $0 |
| 2025-01-03 | Barton Christopher James | Officer (EVP,Development & Capital Inv) | 2025-01-01 | A | 264,026 | — | $0 |
| 2025-01-03 | Gordon Drew | Officer (Chief Investment Officer) | 2025-01-01 | A | 310,231 | — | $0 |
| 2025-01-03 | Tidwell Kay Lee | Officer (Executive VP, General Counsel) | 2025-01-01 | A | 264,026 | — | $0 |
| 2025-01-03 | Jaffe Steven M. | Officer (EVP, Business Affairs) | 2025-01-01 | A | 264,026 | — | $0 |
| 2024-12-31 | Wattula Andy | Officer (Chief Operating Officer) | 2024-12-29 | F | (2,179) | $2.97 | -$6,472 |
| 2024-12-31 | Gordon Drew | Officer (Chief Investment Officer) | 2024-12-29 | F | (2,841) | $2.97 | -$8,438 |
| 2024-12-19 | COLEMAN VICTOR J | Director, Officer (Chief Executive Officer) | 2024-12-18 | P | 50,000 | $2.87 | $143,500 |
| 2024-11-26 | COLEMAN VICTOR J | Director, Officer (Chief Executive Officer) | 2024-11-25 | P | 50,000 | $3.53 | $176,500 |
| 2024-09-24 | Wattula Andy | Officer (Chief Operating Officer) | 2024-09-20 | S | (9,356) | $5.28 | -$49,400 |
| 2024-09-04 | GLASER JONATHAN M | Director | 2024-08-30 | S | (9,287) | $5.20 | -$48,292 |