Paramount Group Inc Stock Price, News & Analysis

Paramount Group, Inc. (NYSE: PGRE) has announced a quarterly cash dividend increase to $0.0775 per share, reflecting a 10.7% rise from the previous $0.07. The dividend is applicable for the period from January 1, 2022 to March 31, 2022, with a payment date of April 15, 2022. Stockholders must be recorded by the close of business on March 31, 2022. This move demonstrates the company's commitment to return value to its investors.

Paramount Group, Inc. (NYSE: PGRE) announced it received an unsolicited proposal from Monarch Alternative Capital LP to acquire its common stock for $12.00 per share in cash. The Board will review this non-binding offer in consultation with independent advisors. Paramount reported significant operational growth in 2021, executing leases totaling over one million square feet, a 45% increase from 2020. The company aims for continued strong performance into 2022, leveraging its financial profile and integrated operations.

Bayerische Versorgungskammer and Paramount Group, Inc. (NYSE: PGRE) have formed a joint venture, acquiring a retail condominium at 1600 Broadway for $191.5 million from Sherwood Equities. The property, measuring 26,000 square feet, is fully leased to Mars, Inc. and serves as the flagship for M&M's World. The joint venture secured a $98.0 million interest-only loan at a fixed rate of 3.45%. Paramount holds a 9.2% stake and will manage the asset. This acquisition strengthens Paramount's portfolio in Times Square.

Paramount Group, Inc. (NYSE: PGRE) announced that Michelin Star restaurant Din Tai Fung has signed a 15-year lease for about 26,400 square feet at 1633 Broadway, New York. This site will be Din Tai Fung's first NY location, designed by the Rockwell Group, and is set to open in 2023. The restaurant aims to attract high foot traffic due to its prime Midtown location, enhancing the property's appeal and providing a unique amenity for tenants.

Paramount Group, Inc. (NYSE: PGRE) reported a net income of $1.2 million for Q4 2021, reversing a net loss of $14.8 million in Q4 2020. Core FFO was stable at $52.8 million. The company leased 1,016,900 sq. ft. in 2021, despite a decrease in same store NOI by 7.5% in Q4. A new $750 million credit facility was secured, maturing in March 2026. For 2022, estimated net loss is projected between $0.07 and $0.01 per diluted share, with Core FFO guidance at $0.91-$0.97. The company achieved a positive mark-to-market of 10% on second generation space.

Paramount Group, Inc. (NYSE: PGRE) announced plans to file its annual report on Form 10-K for the year ending December 31, 2021, and release its fourth quarter financial results on February 22, 2022, post-market. A conference call is scheduled for February 23, 2022, at 10:00 AM ET to discuss these results, including a Q&A session for analysts and investors. The call can be accessed via phone or live audio webcast available on the company’s website. Paramount Group is focused on high-quality Class A office properties in New York City and San Francisco.

Paramount Group, Inc. (NYSE: PGRE) announced the tax treatment for its 2021 common stock dividends. Shareholders are advised to consult tax advisors for specifics. The total dividends for 2021 amount to $0.2800 per share, with regular quarterly cash dividends set at $0.07, declared on December 15, 2021, and paid on January 14, 2022. This payment is designated for federal income tax purposes as allocable to 2022. Paramount Group focuses on high-quality Class A office properties in key markets like New York City and San Francisco, aiming to maximize asset value through strategic management.

Paramount Group, Inc. (NYSE: PGRE) has refinanced its senior unsecured revolving credit facility, securing a new $750 million credit line maturing in March 2026, with the option for two six-month extensions. The interest rate is set at 115 basis points above the secured overnight financing rate (SOFR), plus a facility fee of 20 basis points. This refinancing reflects strong support from financial institutions and enhances Paramount's liquidity and financial flexibility, with a focus on sustainability metrics.