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.
Paramount Group, Inc. was a vertically integrated real estate investment trust that owned, operated and managed Class A office properties in New York City and San Francisco. News for PGRE centered on office leasing, portfolio occupancy, property financing, asset sales, quarterly operating results and sustainability reporting, including GRESB ratings.
Paramount’s public-company news record also includes its completed acquisition by Rithm Capital, after which Paramount was integrated into Rithm’s platform and its separate public-company status changed. The acquired portfolio included owned and managed office assets in major central business district markets.
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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