Shares of Hudson Pacific Properties (NYSE: HPP) fell 16.4% on Tuesday after the real estate investment trust (REIT) announced weaker-than-expected quarterly results.

Hudson Pacific's quarterly revenue during the quarter declined 17.2% year over year to $223.4 million, driven by a combination of property sales and previously announced tenant moveouts. The company also saw headwinds, given a reduction in studio service revenue and other revenue amid union strikes.

On the bottom line, that translated to a net loss attributable to common shareholders of $98 million, or $0.70 per share, widening from a net loss of $0.09 per share in the same year-ago period.

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Source Fool.com