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Office REIT Hudson Pacific Properties, Inc. (NYSE:HPP) continues to struggle. 2Q 2024 FFO was $0.16 and AFFO was $0.17 per share compared to $0.29 and $0.22 in 2Q 2023 and $0.50 and $0.41 in 2Q 2022.
Office REIT Hudson Pacific Properties New Guidance Numbers Indicate Continued Weakness
Summary
- Management's 3Q FFO guidance of $0.08-$0.12 disappointed REIT investors.
- Studio rentals continue to be weak even after various union contracts were settled.
- There is the risk that Hudson Pacific Properties could be in violation of debt covenants in the future.
I no longer write for Seeking Alpha. B.A. in Economics; M.S. in Finance. I usually wrote about distressed companies and companies in Ch.11 bankruptcy. I am now fully retired after spending decades in investments.
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