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Hudson Pacific Properties (HPP) |
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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs: Globe Specialty Metals • LogMeIn • Invesco Mortgage Capital • Medidata • Chemspec |
Hudson Pacific Properties (HPP) (NYSE:HPP) is a real estate company that owns, operates, and acquires office spaces in Northern and Southern California. The company owns eight properties, totaling about 2.0 million square feet. [1]
Due to the financial crisis and high cost of capital , the value of real estate has fallen sharply. The company looks to take advantage of this favorable acquisition environment. [1]
The company's initial public offering of stock filed on the NYSE and went public on 23 June 2010. The company's stock was priced at $17.00, the low end of the initial price range of $17.00-$19.00. The company offered 12.8 million shares to raise $218 million. [1]
For FY2009 with year ended 31 December 2009, the company had $39.4 million in total revenue, up 10.7% from $35.6 million in total revenue for FY2008. Furthermore, the company had a net income of $31,000, an increase from a net loss of $1.71 million. The revenue is distributed with 73.7% in rental, 7.3% in tenant recovery, 18.86% in other property related revenue, and the rest in other. [1]
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