2021-02-17 17:02:03 HPP Hudson Pacific
02/17/21 02/1717:02 02/17/2117:02 | Hudson Pacific Properties reports Q4 FFO 44c, consensus 44cReports Q4 revenue $203.84M, consensus $186.76M. Victor Coleman, Hudson Pacific Properties' Chairman and CEO, said: "Our markets are once again reopening as COVID-19 cases decline, and the development and roll out of multiple vaccines, albeit slower than we would all like, are key milestones in getting our tenants back to the office. We saw renewed tenant interest in the fourth quarter, which resulted in our signing nearly 280,000 square feet of office leases-our best quarter for the year in terms of volume. This positive trend is extending into the first few months of 2021. Our tenants continue to pay rent, and in the fourth quarter, we collected 97% of total rents, including 98% of office and 100% of studio rents. Our storefront retail remains most challenged by the pandemic." |
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