Paramount Group Inc Stock Price, News & Analysis

Paramount Group, Inc. (NYSE: PGRE) has declared a quarterly cash dividend of $0.0775 per share for Q4 2022. The dividend, for the period from October 1, 2022 to December 31, 2022, will be payable on January 13, 2023. Stockholders of record as of December 30, 2022 will receive this payment. Paramount is a real estate investment trust focusing on prime office properties in New York City and San Francisco, aiming to enhance portfolio value through strategic management and location advantages.

Paramount Group, Inc. (NYSE: PGRE) achieved a 5 Star rating in the 2022 GRESB Real Estate Assessment, placing it in the top 20% of 1,820 global entities. Despite a 20% growth in participation, Paramount maintained its market-leading performance and surpassed the average GRESB score by 16 points. Additionally, Paramount received an 'A' for its Public Disclosure Survey, indicating high transparency in ESG disclosures. This recognition reflects the company's commitment to ESG principles, which are central to its business strategy and growth.

Paramount Group, Inc. (NYSE: PGRE) reported a net loss of $1.5 million for Q3 2022, an improvement from a loss of $2.1 million in Q3 2021. Core FFO rose to $54.2 million ($0.24 per diluted share) from $50.1 million ($0.23 per diluted share) year-over-year. The Company updated its 2022 guidance, projecting net income per share between $0.00 and $0.02 and Core FFO between $0.96 and $0.98. Same Store NOI increased by 6.3% compared to the previous year. The Company repurchased shares totaling $41.7 million by October 2022.

Paramount Group, Inc. (NYSE: PGRE) will file its quarterly report on Form 10-Q for the period ending September 30, 2022 with the U.S. Securities and Exchange Commission and release its financial results on October 26, 2022. A conference call will follow on October 27, 2022, at 10:00 a.m. ET, allowing management to discuss these results and answer questions. Interested parties can access the call via phone or through a live audio webcast on the company’s website.

Paramount Group, Inc. (NYSE: PGRE) has declared a quarterly cash dividend of $0.0775 per share of common stock, covering the period from July 1, 2022 to September 30, 2022. This dividend will be payable on October 14, 2022, to stockholders of record by the close of business on September 30, 2022. Paramount Group is a fully integrated real estate investment trust focused on high-quality, Class A office properties in New York City and San Francisco.

Paramount Group (NYSE: PGRE) has signed a significant 15-year lease for 142,000 square feet with esteemed law firm O'Melveny & Myers LLP at 1301 Avenue of the Americas in Midtown Manhattan. This transaction mitigates the risk of an impending lease expiration for Credit Agricole in February 2023. Over the last year, Paramount has successfully executed leases totaling over 450,000 square feet at this location, showcasing its strong appeal and strategic tenant acquisition.

Paramount Group reported a net loss of $0.4 million for Q2 2022, significantly improved from a loss of $15.9 million in Q2 2021. Core Funds from Operations (Core FFO) increased to $53.6 million ($0.24 per share) from $47.6 million ($0.22 per share) year-over-year. The company raised its 2022 earnings guidance, estimating a net loss of $0.01 to income of $0.03 per share, improved from prior estimates. Same Store Cash NOI grew by 5.6%, and same-store NOI rose by 9.0%. The company leased 250,231 square feet, with an occupancy increase to 91.4%.

Paramount Group, Inc. (NYSE: PGRE) will file its quarterly report on Form 10-Q for the period ended June 30, 2022, on July 26, 2022, after market close. The second quarter 2022 financial results will be discussed in a conference call on July 27, 2022, at 12:00 p.m. ET, which will include a Q&A session with analysts. The conference call can be accessed through a dedicated phone line or via a live audio webcast on their website. A replay will be available shortly after the call.

Paramount Group, Inc. (NYSE: PGRE) has declared a quarterly cash dividend of $0.0775 per share, payable on July 15, 2022, for the period from April 1, 2022 to June 30, 2022. Shareholders on record as of June 30, 2022 will receive this dividend. Paramount is a fully-integrated real estate investment trust, focusing on Class A office properties in New York City and San Francisco, maximizing the value of its portfolio through effective property management.