HPP on NYSE

Hudson Pacific Properties

Logo: Hudson Pacific Properties, Public domain, via Wikimedia Commons4

American real estate investment trust

Hudson Pacific Properties is a real estate investment trust with 15.8 million square feet of office buildings, 1.5 million square feet of sound stages, and undeveloped rights for 3 million square feet of additional commercial property. Its properties are on the West Coast of the United States and Vancouver.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 18, 2026.

Overview

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  • TickerHPP on NYSE1
  • IndustryReal Estate1
  • HeadquartersMD1
  • Websitehudsonpacificproperties.com
  • Incorporated inMD5
  • Business address11601 Wilshire Blvd., Ninth Floor, Los Angeles, Ca 900255
  • Filer categoryLarge accelerated filer5

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Hudson Pacific Properties is a real estate investment trust with 15.8 million square feet of office buildings, 1.5 million square feet of sound stages, and undeveloped rights for 3 million square feet of additional commercial property. Its properties are on the West Coast of the United States and Vancouver. It is organized in Maryland and headquartered in Los Angeles. It is the largest independent operator of sound stages in Los Angeles.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

48.5%Gross margin7
-71.3%Net margin7
-1.3%Revenue growth, 20257
-19.9%Return on equity7

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Ancillary Revenue brought in 80% of the revenue Hudson Pacific Properties broke down this way in fiscal 2025.

  1. Ancillary Revenue$75.2M780%down 18% from 2024
  2. Other Revenues$17.1M718%down 0% from 2024
  3. Studio Related Tenant Recoveries$2.1M72%down 2% from 2024
Products and services by year
Products and services202320242025
Ancillary Revenue$76.1M$91.2M$75.2M
Other Revenues$17.6M$17.2M$17.1M
Studio Related Tenant Recoveries$2.2M$2.2M$2.1M

Business segments

Studio brought in 85% of the revenue Hudson Pacific Properties broke down this way in fiscal 2025.

  1. Studio$80.2M785%down 16% from 2024
  2. Office$14.3M715%down 3% from 2024
Business segments by year
Business segments202320242025
Studio$80.6M$95.9M$80.2M
Office$15.3M$14.7M$14.3M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs100¢$830.8M
  • Income tax0¢$273.0K

Out of $831.1M in revenue.7 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid0¢$351.0K
  • Kept or used elsewhere100¢$120.6M

Out of $121.0M of cash from operations.7

Financial statements

Revenue8910117$831.1M in 2025+2% since 2019
0$500.0M$1.0B$1.5B2019: $818.2M$818.2M20192020: $805.0M$805.0M2020−2%2021: $896.8M$896.8M2021+11%2022: $1.0B$1.0B2022+14%2023: $952.3M$952.3M2023−7%2024: $842.1M$842.1M2024−12%2025: $831.1M$831.1M2025−1%
Gross profit8910117$403.4M in 2025−22% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $516.7M$516.7M20192020: $505.2M$505.2M2020−2%2021: $561.0M$561.0M2021+11%2022: $612.4M$612.4M2022+9%2023: $501.8M$501.8M2023−18%2024: $388.0M$388.0M2024−23%2025: $403.4M$403.4M2025+4%
Net income8910117-$592.3M in 2025
-$600.0M-$400.0M-$200.0M0$200.0M2019: $55.8M$55.8M20192020: $16.4M$16.4M2020−71%2021: $29.0M$29.0M2021+77%2022: -$16.5M-$16.5M20222023: -$170.7M-$170.7M2023+933%2024: -$381.4M-$381.4M2024+123%2025: -$592.3M-$592.3M2025+55%

Every line of the income statement as filed: the last 3 fiscal years, latest first.7

Period ending2025-12-312024-12-312023-12-31
Revenues$831.1M$842.1M$952.3M
General and administrative$73.0M$79.5M$75.0M
Depreciation and amortization$375.0M$354.4M$397.8M
Total operating expenses$875.7M$888.0M$923.3M
Loss from unconsolidated real estate entities-$67.0K-$7.3M-$3.9M
Fee income$5.4M$5.3M$6.2M
Interest expense-$172.2M-$177.4M-$214.4M
Interest income$6.2M$2.5M$2.2M
Management services reimbursement incomeunconsolidated real estate entities$4.2M$4.1M$4.1M
Management services expenseunconsolidated real estate entities-$4.2M-$4.1M-$4.1M
Transaction-related expenses-$590.0K-$2.5M$1.1M
Unrealized loss on non-real estate investments-$3.0M-$4.0M-$3.1M
Gain (loss) on sale of real estate, net$5.7M-$2.5M$103.2M
Impairment loss-$299.3M-$149.7M-$60.2M
Loss on deconsolidation of real estate entity-$77.9M$0$0
(Loss) gain on extinguishment of debt-$10.5M$0$10.0M
Other (expense) income-$1.8M$1.6M-$6.0K
Loss on sale of bonds$0$0-$34.0M
Total other expenses-$548.0M-$333.9M-$192.9M
Loss before income tax benefit (provision)-$592.6M-$379.8M-$163.9M
Income tax benefit (provision)$273.0K-$1.6M-$6.8M
Net loss-$592.3M-$381.4M-$170.7M
Net income attributable to participating securities$0-$409.0K-$850.0K
Net loss attributable to non-controlling interest in consolidated real estate entities$27.4M$25.1M$9.3M
Net loss (income) attributable to redeemable non-controlling interest in consolidated real estate entities$3.2M$4.1M-$12.5M
Net loss attributable to common units in the operating partnership$10.0M$9.4M$3.4M
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS-$572.2M-$364.1M-$192.2M
Net loss attributable to common stockholdersbasic (in dollars per share)-$13-$18-$10
Net loss attributable to common stockholdersdiluted (in dollars per share)-$13-$18-$10
Weighted average shares of common stock outstandingbasic (in shares)44.7M shares20.2M shares20.1M shares
Weighted average shares of common stock outstandingdiluted (in shares)44.7M shares20.2M shares20.1M shares

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The story

The company was founded as Hudson Capital by Victor J. Coleman. In 2007, Hudson Capital purchased Sunset Gower Studios and in 2008 purchased Sunset Bronson Studios. Hudson Capital was reformed as Hudson Pacific Properties in 2009 and on June 29, 2010, the company became a public company via an initial public offering.

In December 2014, the company acquired 26 properties in Northern California from The Blackstone Group's EQ Office for $3.5 billion. This made Hudson Pacific the largest publicly traded owner-operator of office space in Silicon Valley. In 2017 the company bought Sunset Las Palmas Studios.

In March 2019, in a joint venture with funds managed by The Blackstone Group, the company acquired Bentall Centre, Vancouver.

In June 2020, funds managed by The Blackstone Group acquired a 49% stake in several properties owned by the company.

From Wikipedia’s article on Hudson Pacific Properties, shared under CC BY-SA 4.0.6

Leadership

Who has led Hudson Pacific Properties, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Victor J. Coleman2010–now

President

  1. Howard Steven Stern2010–2013
  2. Mark T. Lammas2020–now

Chief financial officer

  1. Mark T. Lammas2010–2019
  2. Harout Krikor Diramerian2020–now

Chief operating officer

  1. Mark T. Lammas2016–2019
  2. Alex Vouvalides2020–2021
  3. Andy Wattula2022–now
201520202025
Board members and other officers (30)

Timeline

  1. Jun 23, 2010New chief executive Victor J. Coleman becomes CEO15

Filings

356 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 62 major events, 205 insider forms, 33 large holders, 36 other. The latest 20:

  1. Oct 5, 20268-K EDGAR
  2. Sep 11, 20268-K EDGAR
  3. Aug 14, 2026SCHEDULE 13G/A EDGAR
  4. Aug 14, 2026SCHEDULE 13G/A EDGAR
  5. Aug 11, 20264 EDGAR
  6. Aug 10, 202610-Q EDGAR
  7. Aug 5, 20268-K EDGAR
  8. Jun 22, 20268-K EDGAR
  9. Jun 1, 20268-K EDGAR
  10. Jun 1, 20264 EDGAR
  11. Jun 1, 20264 EDGAR
  12. Jun 1, 20264 EDGAR
  13. Jun 1, 20264 EDGAR
  14. Jun 1, 20264 EDGAR
  15. May 15, 2026SCHEDULE 13G EDGAR
  16. May 15, 2026SCHEDULE 13G EDGAR
  17. May 8, 202610-Q EDGAR
  18. May 7, 20268-K EDGAR
  19. Apr 30, 2026SCHEDULE 13G EDGAR
  20. Apr 29, 2026SCHEDULE 13G EDGAR

The 356 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 33 such filings since October 2021, the latest 10:

  1. Aug 14, 2026SCHEDULE 13G/A
  2. Aug 14, 2026SCHEDULE 13G/A
  3. May 15, 2026SCHEDULE 13G
  4. May 15, 2026SCHEDULE 13G
  5. Apr 30, 2026SCHEDULE 13G
  6. Apr 29, 2026SCHEDULE 13G
  7. Mar 27, 2026SCHEDULE 13G/A
  8. Oct 17, 2025SCHEDULE 13G/A
  9. Oct 6, 2025SCHEDULE 13G/A
  10. Aug 14, 2025SCHEDULE 13G/A

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.6,769,566$102.8M0.0%−281,886
Vanguard Portfolio Management LLC2,934,923$44.6M0.0%+82,766
Philosophy Capital Management LLC2,764,454$42.0M4.0%−781,517
Vanguard Capital Management LLC2,387,337$36.3M0.0%+7,144
Aqr Capital Management LLC2,239,928$34.0M0.0%+1,857,416
Principal Financial Group Inc2,210,446$33.6M0.0%+117,451
Valueworks LLC1,689,699$25.7M5.4%−150,324
Charles Schwab Investment Management Inc1,628,195$24.7M0.0%+16,185
D. E. Shaw & Co., Inc.1,571,916$23.9M0.0%−87,506
Wellington Management Group Llp1,535,537$23.3M0.0%New
Geode Capital Management, LLC1,497,249$22.7M0.0%+112,160
State Street Corp1,465,881$22.3M0.0%−123,421
Morgan Stanley1,342,103$20.4M0.0%+897,238
Balyasny Asset Management L.P.1,120,756$17.0M0.0%−1,494,600
Rubric Capital Management LP1,019,598$15.5M0.1%New
Susquehanna International Group, Llp964,812$14.7M0.0%+817,688
Ameriprise Financial Inc896,920$13.6M0.0%+118,309
Goldman Sachs Group Inc886,022$13.5M0.0%+72,375
Fmr LLC861,728$13.1M0.0%+2,558
Jpmorgan Chase & Co842,245$13.0M0.0%+390,107
Universal- Beteiligungs- und Servicegesellschaft mbH742,228$11.3M0.0%−4,120
Jane Street Group, LLC678,019$10.3M0.0%+344,703
Allianz Asset Management GmbH655,719$10.0M0.0%+216,389
Neuberger Berman Group LLC638,722$9.7M0.0%−96,870
Burkehill Global Management, LP571,428$8.7M0.3%No change

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

8 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Mar 6, 2023Daniel S. GoldmanDemocratic, HouseSale$1,001 - $15,000+173.5%Report
Mar 1, 2023Daniel S. GoldmanDemocratic, HouseSale$1,001 - $15,000+178.1%Report
Jan 5, 2023Lois FrankelDemocratic, HouseSale$1,001 - $15,000+186.1%Report
Dec 8, 2022Lois FrankelDemocratic, HousePartial sale$1,001 - $15,000+178.6%Report
Jul 19, 2022Lois FrankelDemocratic, HousePartial sale$1,001 - $15,000+185.9%Report
Jul 15, 2022Lois FrankelDemocratic, HousePartial sale$1,001 - $15,000+189.1%Report
Feb 25, 2021Lois FrankelDemocratic, HouseBuy$1,001 - $15,000−195.8%Report
Mar 30, 2020Lois FrankelDemocratic, HouseBuy$1,001 - $15,000−288.7%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

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