Paramount Group Inc Stock Price, News & Analysis

Paramount Group, Inc. (PGRE) reported a net loss of $15.9 million, or $0.07 per diluted share, for Q2 2021, a significant increase from a $6.3 million loss in Q2 2020. Core Funds from Operations (Core FFO) were $47.6 million, or $0.22 per diluted share, down from $50.1 million, or $0.23 per diluted share, year-over-year. The company leased 246,922 square feet, with notable contracts at 31 West 52nd Street and 1633 Broadway. With $1.51 billion in liquidity, Paramount raised its Estimated Core FFO Guidance for 2021 to $0.86 - $0.90 per diluted share, reflecting improved portfolio performance.

Paramount Group, Inc. (NYSE:PGRE) has rescheduled its Q2 2021 conference call from 10:00 a.m. to 9:00 a.m. ET on July 28, 2021. The company is set to release its second quarter financial results on July 27, 2021, after market close. Access to the conference call will be available via a domestic number (877-407-0789) and an international number (201-689-8562). A replay will be provided from July 28 to August 4, 2021. Paramount, headquartered in New York City, focuses on high-quality office properties in key urban markets.

Paramount Group, Inc. (NYSE: PGRE) announced plans to file its quarterly report on Form 10-Q for the quarter ending June 30, 2021, and release financial results on July 27, 2021, post-market. A conference call will follow on July 28, 2021, at 10:00 a.m. ET, allowing management to discuss results and performance, followed by a Q&A session. Investors can access the call by phone or via a live audio webcast on the company's website. Paramount Group focuses on high-quality office properties in New York City and San Francisco, leveraging prime locations to enhance tenant attraction and retention.

Paramount Group, Inc. (NYSE: PGRE) has declared a quarterly cash dividend of $0.07 per share for the period from April 1, 2021, to June 30, 2021. This dividend will be payable on July 15, 2021, to stockholders of record as of the close of business on June 30, 2021. Paramount operates as a fully-integrated real estate investment trust, focusing on high-quality Class A office properties in New York City and San Francisco. The company aims to maximize portfolio value through strategic management and location.

Paramount Group, Inc. (NYSE: PGRE) will have its key executives, including Albert Behler and Wilbur Paes, at Nareit’s REITWeek: 2021 Virtual Investor Conference on June 8, 2021. An investor presentation containing updated business information will be available in the Investor Relations section of their website before the conference. Paramount Group, headquartered in New York, is a real estate investment trust that focuses on premium, Class A office properties in major urban areas like New York City and San Francisco, aiming to maximize portfolio value through strategic management.

Paramount Group, Inc. (NYSE: PGRE) has become a Fitwel Champion, showcasing its commitment to healthy office environments. The company has secured Fitwel certification for 10 properties totaling approximately nine million square feet. Fitwel, developed by CDC and GSA, sets standards for health-oriented building strategies. Paramount plans to certify an additional three million square feet in 2021, enhancing tenant trust and aligning with its ESG priorities.

Paramount Group, Inc. (NYSE: PGRE) has announced a comprehensive repositioning project for its 60 Wall Street property, set to begin in summer 2022. The development includes renovating the lobby and atrium, adding a skylight, and installing North America's largest indoor green wall. Enhanced amenities, such as new dining options, will attract potential tenants. The upgrades aim to create a vibrant hub for professionals, while maintaining the building's status as a premier office location in New York City. The architectural firm Kohn Pedersen Fox is tasked with the design.

Paramount Group, Inc. (NYSE: PGRE) announced a significant 54,095 square foot lease with Bracewell LLP at 31 West 52nd Street, Midtown Manhattan. This move occupies the entire 18th and 19th floors for an initial term of 16.1 years, effectively filling over 40% of the 131,000 square feet vacancy expiring on April 30, 2021. Bracewell is a prominent law firm servicing various industries globally. The lease underscores the desirability of the property and Paramount’s strategic capabilities in attracting quality tenants.

Paramount Group, Inc. (NYSE: PGRE) reported a net loss of $3.6 million, or $0.02 per diluted share, for Q1 2021, compared to a net income of $3.3 million, or $0.01 per diluted share in Q1 2020. Core Funds from Operations (Core FFO) fell to $50.6 million, down from $61.5 million year-over-year, largely due to the expiration of Barclays’ lease. Same Store Cash NOI and Same Store NOI declined by 2.6% and 7.5%, respectively. The company declared a cash dividend of $0.07 per share and ended the quarter with $1.49 billion in liquidity. 2021 Core FFO Guidance is reaffirmed at $0.82 to $0.88 per diluted share.