Welcome to our dedicated page for Paramount Group news (Ticker: PGRE), a resource for investors and traders seeking the latest updates and insights on Paramount Group stock.
This page provides a historical news archive for Paramount Group, Inc. (formerly NYSE: PGRE), a fully integrated real estate investment trust that owned, operated, managed, acquired and redeveloped high-quality, Class A office properties in select central business district submarkets of New York City and San Francisco. The company’s news flow documents its evolution from a standalone office REIT to a business that was ultimately acquired by Rithm Capital Corp.
News items for PGRE cover several key themes. Paramount’s earnings releases discuss quarterly and year-to-date results, including net income or loss, Funds From Operations (FFO), Core FFO, Same Store NOI and Same Store Cash NOI, along with detailed leasing statistics such as square footage leased, weighted average initial rents, lease terms, and tenant improvements and leasing commissions. Operational updates highlight leasing momentum across its New York City and San Francisco portfolios, including activity in second generation space and changes in same store leased occupancy.
Another important category of news relates to capital markets and portfolio activity. Paramount announced transactions such as the $900 million refinancing of 1301 Avenue of the Americas, a Class A office building in Midtown Manhattan, and the sale of a 25% equity interest in One Front Street, a Class A office building in San Francisco, including information about loan terms, use of proceeds and seller financing.
The archive also includes strategic and corporate developments, such as the board’s May 2025 decision to review strategic alternatives to maximize shareholder value and subsequent leadership changes. Later releases describe the Agreement and Plan of Merger with Rithm Capital Corp., the terms of the cash acquisition, and the shareholder approval process. Additional news highlights Paramount’s sustainability profile, including its repeated GRESB 5 Star ratings and “A” Public Disclosure score.
Together, these articles offer context on Paramount’s historical operating performance, portfolio management decisions and the steps that led to its acquisition and delisting. Investors and researchers can use this news history to understand how the PGRE story developed over time.
Paramount Group, Inc. (NYSE: PGRE) has announced the release date for its third quarter 2024 financial results. The company will file its quarterly report on Form 10-Q and release the results on Wednesday, October 30, 2024 after the New York Stock Exchange trading closes. A conference call and audio webcast are scheduled for Thursday, October 31, 2024 at 10:00 a.m. Eastern Time to discuss the results and business performance.
Investors can access the conference call by dialing 877-407-0789 (domestic) or 201-689-8562 (international). An audio replay will be available from 1:00 p.m. ET on October 31, 2024 through November 7, 2024. A live audio webcast will be accessible through the "Investors" section of Paramount's website, www.pgre.com, with a replay archived on the site.
Paramount Group, Inc. (NYSE: PGRE) has announced the suspension of its regular quarterly dividend that would have been payable on October 15, 2024. This decision was made by the company's board of directors. During 2024, Paramount paid three regular quarterly dividends totaling $0.1050 per share of common stock, which represents approximately 100% of its estimated 2024 taxable income.
Albert Behler, Chairman, CEO, and President of Paramount, stated that this decision aligns with the company's commitment to strengthen its balance sheet and maintain financial flexibility. The move is aimed at ensuring the company's financial stability in the current economic environment.
Paramount Group (NYSE: PGRE) reported its Q2 2024 results, showing a net loss of $7.8 million ($0.04 per share), compared to $47.5 million ($0.22 per share) in Q2 2023. Core FFO increased to $43.4 million ($0.20 per share) from $37.1 million ($0.17 per share) year-over-year. The company updated its 2024 guidance, expecting net loss between $0.11 and $0.07 per share, and Core FFO between $0.76 and $0.80 per share.
Key highlights include:
- 0.1% increase in Same Store Cash NOI
- 198,505 square feet leased at $74.55 per square foot average initial rent
- Decreased same store leased occupancy to 86.3% from 89.1% in Q1 2024
- Modified $164.8 million mortgage loan at 111 Sutter Street
- Declared Q2 dividend of $0.035 per common share
Paramount has announced it will release its second quarter 2024 financial results on July 31, 2024, following the end of trading on the NYSE.
The company will file its quarterly report on Form 10-Q with the U.S. SEC and host a conference call and audio webcast at 10:00 a.m. ET on August 1, 2024 to discuss the results and provide business performance commentary.
Investors and analysts can participate in the call by dialing 877-407-0789 (domestic) or 201-689-8562 (international), with a replay available until August 8, 2024. The webcast will be accessible through the company’s website, www.pgre.com.
Paramount Group (NYSE: PGRE) announced the declaration of a regular quarterly cash dividend of $0.035 per share for the period from April 1, 2024, to June 30, 2024. This dividend will be payable on July 15, 2024, to shareholders who are recorded as of June 28, 2024. This consistent dividend distribution reflects Paramount's commitment to providing shareholder value.
Paramount Group, Inc. (NYSE: PGRE) announced its First Quarter 2024 Results, reporting net income of $9.9 million, or $0.05 per diluted share, compared to $1.7 million in the same quarter last year. The company raised its full-year 2024 Core FFO guidance, expecting a net loss per diluted share between $0.10 to $0.04. Paramount leased 276,717 square feet, with a decrease in Same Store Cash NOI and Same Store NOI. The company declared a cash dividend of $0.035 per common share. Capital Markets Activity involved loan modifications and extensions at key properties, with positive financial implications. Despite challenges in leasing activity, the company remains optimistic about its 2024 Core FFO projections.
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