HPP raises full-year 2026 Core FFO guidance to $1.10-$1.18 per share after Q1 occupancy rises to 77.8%.
Hudson Pacific Properties increased its 2026 Core FFO guidance to $1.10-$1.18 per diluted share from $0.96-$1.06, citing better-than-expected Q1 results and operational reclassifications. The company ended the quarter with $933 million in liquidity and signed 554,000 square feet of leases, pushing occupancy to 77.8%.
Leasing activity improved, with a pipeline of 2.4 million square feet, driven by AI- and tech-related demand in the Bay Area and Seattle. Studio operations showed mixed performance, but restructuring efforts, including winding down certain Quixote operations, are expected to boost annual cash NOI by $5.8 million.
CEO Victor Coleman highlighted sequential FFO growth and stronger cash flow, attributing gains to higher occupancy and cost efficiencies. The company continues to pursue non-core asset sales to streamline operations.