(HPP) Hudson Pacific Properties - Overview
Sector: Real Estate | Industry: REIT - Office | Exchange: NYSE (USA) | Market Cap: 5.262m USD | Total Return: -6.5% in 12m
Avg Turnover: 13.4M
Qual. Beats: 0
Rev. Trend: -92.1%
Qual. Beats: 0
Warnings
Share dilution 219.1% YoY
Interest Coverage Ratio -2.4 is critical
Tailwinds
Confidence
Hudson Pacific Properties (NYSE: HPP) is a Maryland-incorporated Real Estate Investment Trust (REIT) focused on acquiring and developing office and studio properties. The firm specifically targets high-barrier markets that serve the technology and media sectors, operating an end-to-end platform that manages the full lifecycle of property transformation and sustainability.
The company’s business model relies on the convergence of content production and tech innovation, a strategy that differentiates it from traditional commercial REITs. Studio assets often command high barriers to entry due to specialized infrastructure requirements and the geographic concentration of production talent in major media hubs. Investors may find it useful to examine ValueRay for further data on this asset class.
- Tech sector layoffs and remote work trends reduce office occupancy rates
- Studio production volume fluctuates based on streaming content spend and strikes
- High interest rates increase debt service costs for variable-rate credit facilities
- Leasing demand in West Coast markets faces pressure from corporate downsizing
- Strategic asset dispositions provide essential liquidity for upcoming debt maturities
| Net Income: -537.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA 0.23 > 1.0 |
| NWC/Revenue: -86.29% < 20% (prev -12.22%; Δ -74.06% < -1%) |
| CFO/TA 0.02 > 3% & CFO 134.7m > Net Income -537.8m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 0.35 > 1.5 & < 3 |
| Outstanding Shares: last quarter (64.5m) vs 12m ago 219.1% < -2% |
| Gross Margin: 29.10% > 18% (prev 0.45%; Δ 2.87k% > 0.5%) |
| Asset Turnover: 10.70% > 50% (prev 10.33%; Δ 0.36% > 0%) |
| Interest Coverage Ratio: -2.38 > 6 (EBITDA TTM -33.7m / Interest Expense TTM 166.7m) |
| DSRI: 1.03 (Receivables 214.5m/211.5m, Revenue 814.5m/826.5m) |
| GMI: 1.54 (GM 29.10% / 44.67%) |
| AQI: 1.00 (AQ_t 0.89 / AQ_t-1 0.89) |
| SGI: 0.99 (Revenue 814.5m / 826.5m) |
| TATA: -0.09 (NI -537.8m - CFO 134.7m) / TA 7.23b) |
| Beneish M = -2.62 (Cap -4..+1) = A |
As of June 02, 2026, the stock is trading at USD 12.24 with a total of 785,030 shares traded.
Over the past week, the price has changed by +8.99%,
over one month by +31.47%,
over three months by +64.30% and
over the past year by -6.49%.
Hudson Pacific Properties has received a consensus analysts rating of 3.20. Therefore, it is recommended to hold HPP.
- StrongBuy: 2
- Buy: 0
- Hold: 7
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 14.1 | 15.5% |
P/E Forward = 6.3171
P/S = 6.455
P/B = 0.2607
P/EG = 6.9308
Revenue TTM = 814.5m USD
EBIT TTM = -396.3m USD
EBITDA TTM = -33.7m USD
Long Term Debt = 3.42b USD (from longTermDebt, last quarter)
Short Term Debt = 1.08b USD (from shortTermDebt, last quarter)
Debt = 4.10b USD (from shortLongTermDebtTotal, last quarter) + Leases 339.8m
Net Debt = 3.93b USD (calculated: Debt 4.10b - CCE 162.4m)
Enterprise Value = 9.20b USD (5.26b + Debt 4.10b - CCE 162.4m)
Interest Coverage Ratio = -2.38 (Ebit TTM -396.3m / Interest Expense TTM 166.7m)
EV/FCF = 81.06x (Enterprise Value 9.20b / FCF TTM 113.4m)
FCF Yield = 1.23% (FCF TTM 113.4m / Enterprise Value 9.20b)
FCF Margin = 13.93% (FCF TTM 113.4m / Revenue TTM 814.5m)
Net Margin = -66.03% (Net Income TTM -537.8m / Revenue TTM 814.5m)
Gross Margin = 29.10% ((Revenue TTM 814.5m - Cost of Revenue TTM 577.5m) / Revenue TTM)
Gross Margin QoQ = -44.61% (prev 59.98%)
Tobins Q-Ratio = 1.27 (Enterprise Value 9.20b / Total Assets 7.23b)
Interest Expense / Debt = 4.07% (Interest Expense 166.7m / Debt 4.10b)
Taxrate = 21.0% (US default 21%)
NOPAT = -313.1m (EBIT -396.3m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 0.35 (Total Current Assets 376.9m / Total Current Liabilities 1.08b)
Debt / Equity = 1.40 (Debt 4.10b / totalStockholderEquity, last quarter 2.92b)
Debt / EBITDA = -116.6 (out of range, set to none) (Net Debt 3.93b / EBITDA -33.7m)
Debt / FCF = 34.67 (Net Debt 3.93b / FCF TTM 113.4m)
Total Stockholder Equity = 3.13b (last 4 quarters mean from totalStockholderEquity)
RoA = -7.06% (Net Income -537.8m / Total Assets 7.23b)
RoE = -17.20% (Net Income TTM -537.8m / Total Stockholder Equity 3.13b)
RoCE = -6.06% (EBIT -396.3m / Capital Employed (Equity 3.13b + L.T.Debt 3.42b))
RoIC = -4.35% (negative operating profit) (NOPAT -313.1m / Invested Capital 7.19b)
WACC = 8.23% (E(5.26b)/V(9.36b) * Re(12.13%) + D(4.10b)/V(9.36b) * Rd(4.07%) * (1-Tc(0.21)))
Discount Rate = 12.13% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 91.11 | Cagr: 67.73%
[DCF] Terminal Value 76.16% ; FCFF base≈111.0m ; Y1≈116.7m ; Y5≈135.6m
[DCF] Fair Price = N/A (negative equity: EV 2.09b - Net Debt 3.93b = -1.84b; debt exceeds intrinsic value)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.08 | # QB: 0
Revenue Correlation: -92.15 | Revenue CAGR: -8.56% | SUE: 0.16 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.73 | Chg30d=+16.09% | Revisions=+33% | Analysts=3
EPS next Quarter (2026-09-30): EPS=-0.70 | Chg30d=+14.69% | Revisions=+33% | Analysts=3
EPS current Year (2026-12-31): EPS=-2.95 | Chg30d=+15.07% | Revisions=+33% | GrowthEPS=+77.0% | GrowthRev=-9.6%
EPS next Year (2027-12-31): EPS=-2.82 | Chg30d=+15.57% | Revisions=N/A | GrowthEPS=-2.7% | GrowthRev=+4.7%
[Analyst] Revisions Ratio: +33%