The shares of Hudson Pacific Properties Inc. HPP, -1.05 % dropped 0.1% on Friday morning after the REIT focused on “dynamic media and tech” reduced its quarterly dividend by half in order to increase The new dividend rate of 12.5 cents per share will be paid to shareholders of record as of June 20. This is a decrease from the previous 25 cents per share. According to recent stock prices the new dividend rate implies an annual dividend yield of 9.54 %. This compares to the yield for Real Estate Select Sector SPDR Exchange-Traded Fund XLRE, -6.62 The company has more than $820 million in total liquid assets, and the lower dividend will increase liquidity by $18 millions.