Hudson Pacific Properties: Office Properties, AI, And San Francisco Recovery

Hudson Pacific Properties is currently trading at a cheap 6.3x multiple to the midpoint of its 2026 FFO range. The REIT faces $540.77 million in debt repayments this year, only dropping slightly to $506.52 million in 2027. This was set against cash and cash equivalents of $138.4 million. Spiking Treasury yields could push up the spread investors demand to hold the preferreds, with the commons also likely to see some pressure.