Seeking Alpha

Hudson Pacific higher after beat and raise

  • Q2 FFO (excluding certain items) of $19.8M or $0.28 per share vs. $13.9M and $0.24 one year ago. Dividend is $0.125.
  • Office Properties segment continuing revenue of $52.9M up 40.2%, largely the result of acquisitions. Stabilized office portfolio is 94.6% leased as of June 30.
  • Media and Entertainment Properties segment revenue of $9.2M down 4.4%. Expenses lower by 9.2% to $5.8M. Trailing 12-month occupancy of 69.9% down from 73.1%.
  • 2014 FFO outlook is boosted to $1.12-$1.16 per share from $1.08-$1.12.
  • Previously: Hudson Pacific Properties beats by $0.02, beats on revenue
  • HPP +1.9%

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