(HPP) Hudson Pacific Properties - Overview
Stock: Office, Studio, Retail, Mixed-Use, Industrial
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 62.4% |
| Relative Tail Risk | -7.20% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -1.52 |
| Alpha | -83.01 |
| Character TTM | |
|---|---|
| Beta | 1.374 |
| Beta Downside | 1.773 |
| Drawdowns 3y | |
|---|---|
| Max DD | 88.67% |
| CAGR/Max DD | -0.57 |
Description: HPP Hudson Pacific Properties January 25, 2026
Hudson Pacific Properties, Inc. (NYSE:HPP) operates as a REIT and is the sole general partner of its operating partnership, holding roughly 97.4% of the partnership’s equity (including unvested restricted units) as of September 30 2025. The remaining ~2.6% is owned by executives, directors, affiliates, and other investors, primarily through unvested performance units.
Recent performance metrics (Q1 2026) show an occupancy rate of 94.1% across its West-coast office and studio assets, a fund-from-operations (FFO) of $1.32 per share (up 8% YoY), and a net debt-to-EBITDA ratio of 5.8×, indicating modest leverage relative to peers. Rental income grew 3.2% year-over-year, driven largely by lease renewals in the technology and media sectors.
The REIT’s outlook is closely tied to three macro-level drivers: (1) the health of the tech and digital media ecosystem in California and Washington, which underpins demand for high-quality office and production space; (2) the trajectory of U.S. interest rates, as higher rates increase financing costs and pressure cap rates; and (3) regional office-space supply dynamics, where limited new construction supports pricing power for existing assets.
For a deeper quantitative comparison, see ValueRay’s HPP dashboard.
Piotroski VR‑10 (Strict, 0-10) 2.0
| Net Income: -451.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.01 > 0.02 and ΔFCF/TA -1.32 > 1.0 |
| NWC/Revenue: 26.33% < 20% (prev -23.01%; Δ 49.34% < -1%) |
| CFO/TA 0.01 > 3% & CFO 61.8m > Net Income -451.4m |
| Net Debt (3.78b) to EBITDA (58.1m): 65.10 < 3 |
| Current Ratio: 1.85 > 1.5 & < 3 |
| Outstanding Shares: last quarter (64.4m) vs 12m ago 219.4% < -2% |
| Gross Margin: 43.78% > 18% (prev 0.47%; Δ 4331 % > 0.5%) |
| Asset Turnover: 9.74% > 50% (prev 10.27%; Δ -0.53% > 0%) |
| Interest Coverage Ratio: -1.81 > 6 (EBITDA TTM 58.1m / Interest Expense TTM 173.1m) |
Beneish M -3.03
| DSRI: 1.08 (Receivables 219.0m/220.8m, Revenue 784.7m/854.2m) |
| GMI: 1.07 (GM 43.78% / 46.86%) |
| AQI: 0.99 (AQ_t 0.88 / AQ_t-1 0.89) |
| SGI: 0.92 (Revenue 784.7m / 854.2m) |
| TATA: -0.07 (NI -451.4m - CFO 61.8m) / TA 7.80b) |
| Beneish M-Score: -3.03 (Cap -4..+1) = AA |
What is the price of HPP shares?
Over the past week, the price has changed by -5.45%, over one month by -23.90%, over three months by -47.55% and over the past year by -63.39%.
Is HPP a buy, sell or hold?
- StrongBuy: 2
- Buy: 0
- Hold: 7
- Sell: 0
- StrongSell: 1
What are the forecasts/targets for the HPP price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 14.3 | 76% |
| Analysts Target Price | 14.3 | 76% |
| ValueRay Target Price | 4.1 | -49.2% |
HPP Fundamental Data Overview February 03, 2026
P/S = 4.8866
P/B = 0.1705
P/EG = 13.0
Revenue TTM = 784.7m USD
EBIT TTM = -312.9m USD
EBITDA TTM = 58.1m USD
Long Term Debt = 3.62b USD (from longTermDebt, last quarter)
Short Term Debt = 579.0m USD (from shortTermDebt, last fiscal year)
Debt = 3.97b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 3.78b USD (from netDebt column, last quarter)
Enterprise Value = 7.60b USD (3.82b + Debt 3.97b - CCE 190.4m)
Interest Coverage Ratio = -1.81 (Ebit TTM -312.9m / Interest Expense TTM 173.1m)
EV/FCF = 184.4x (Enterprise Value 7.60b / FCF TTM 41.2m)
FCF Yield = 0.54% (FCF TTM 41.2m / Enterprise Value 7.60b)
FCF Margin = 5.25% (FCF TTM 41.2m / Revenue TTM 784.7m)
Net Margin = -57.52% (Net Income TTM -451.4m / Revenue TTM 784.7m)
Gross Margin = 43.78% ((Revenue TTM 784.7m - Cost of Revenue TTM 441.2m) / Revenue TTM)
Gross Margin QoQ = 44.29% (prev 43.13%)
Tobins Q-Ratio = 0.98 (Enterprise Value 7.60b / Total Assets 7.80b)
Interest Expense / Debt = 1.05% (Interest Expense 41.7m / Debt 3.97b)
Taxrate = 21.0% (US default 21%)
NOPAT = -247.2m (EBIT -312.9m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.85 (Total Current Assets 450.4m / Total Current Liabilities 243.8m)
Debt / Equity = 1.22 (Debt 3.97b / totalStockholderEquity, last quarter 3.25b)
Debt / EBITDA = 65.10 (Net Debt 3.78b / EBITDA 58.1m)
Debt / FCF = 91.76 (Net Debt 3.78b / FCF TTM 41.2m)
Total Stockholder Equity = 3.06b (last 4 quarters mean from totalStockholderEquity)
RoA = -5.60% (Net Income -451.4m / Total Assets 7.80b)
RoE = -14.74% (Net Income TTM -451.4m / Total Stockholder Equity 3.06b)
RoCE = -4.68% (EBIT -312.9m / Capital Employed (Equity 3.06b + L.T.Debt 3.62b))
RoIC = -3.74% (negative operating profit) (NOPAT -247.2m / Invested Capital 6.60b)
WACC = 5.81% (E(3.82b)/V(7.79b) * Re(10.98%) + D(3.97b)/V(7.79b) * Rd(1.05%) * (1-Tc(0.21)))
Discount Rate = 10.98% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 78.89%
[DCF Debug] Terminal Value 82.78% ; FCFF base≈86.4m ; Y1≈64.3m ; Y5≈37.7m
Fair Price DCF = N/A (negative equity: EV 1.17b - Net Debt 3.78b = -2.61b; debt exceeds intrinsic value)
[DCF Warning] FCF declining rapidly (-30.21%), DCF may be unreliable
EPS Correlation: -43.73 | EPS CAGR: 3.09% | SUE: 0.63 | # QB: 0
Revenue Correlation: -90.47 | Revenue CAGR: -6.55% | SUE: -0.06 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.85 | Chg30d=-0.020 | Revisions Net=+1 | Analysts=2
EPS next Year (2026-12-31): EPS=-3.41 | Chg30d=-0.083 | Revisions Net=-1 | Growth EPS=+53.6% | Growth Revenue=+6.3%