Hudson Pacific Properties reported strong fourth-quarter results, achieving the high end of its FFO guidance range. The company signed over 448,000 square feet of office leases and saw growth in both GAAP and cash office rents. They also purchased an office tower and commenced construction on a studio facility.
Net income attributable to common stockholders was $8.1 million, or $0.05 per diluted share.
FFO, excluding specified items, reached $79.6 million, or $0.52 per diluted share.
Total revenue increased by 18.0% to $240.5 million.
The company repurchased 1.3 million shares of common stock at an average price of $24.07 per share.
The Company is providing 2022 full-year FFO guidance in the range of $2.01 to $2.09 per diluted share, excluding specified items.
Visualization of income flow from segment revenue to net income