Hudson Pacific Raises 2026 Core FFO Outlook to $1.15 to $1.21

Hudson Pacific Properties, Inc. raised its 2026 Core funds from operations (Core FFO) outlook to $1.15 to $1.21 per diluted share from $1.12 to $1.20, while third-quarter in-service office occupancy rose to 85.6%.

The improvement to the average occupancy outlook largely reflected property sales and Fourth & Traction’s temporary removal from the portfolio. The reported in-service occupancy rate increased 310 basis points from the prior quarter, and the leased rate reached 86.1%, up 330 basis points.

Hudson Pacific executed 74 office leases during the quarter, covering a combined 533,708 square feet. Core FFO for the quarter was $0.28 per diluted share, compared with $0.26 a year earlier, an increase of about 8%.

Core FFO is a non-GAAP measure that may not be comparable with similarly titled measures used by other real estate investment trusts.