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. (symbol: PGRE) is a prominent real estate investment trust (REIT) specializing in high-quality, Class A office properties located in prime central business districts (CBDs) of New York City and San Francisco. Headquartered in Bluffton, South Carolina, this esteemed company is known for its significant impact in the real estate sector through strategic acquisition, management, operation, and redevelopment of office properties.
Paramount Group's primary revenue stream comes from leasing office spaces to a diverse range of tenants. By focusing on two of the most coveted real estate markets in the United States, they ensure steady rental income and robust financial performance. The company's portfolio includes some of the most prestigious and sought-after office properties that cater to top-tier tenants.
Recent achievements for Paramount Group include the successful leasing of a substantial portion of their office space to high-profile tenants, maintaining high occupancy rates, and completing several redevelopment projects that have added value to their holdings. These strategic decisions have solidified their reputation as a leader in the office real estate market.
Paramount Group continually seeks growth opportunities through the acquisition of new properties and strategic partnerships. They are committed to sustainability and have implemented numerous eco-friendly practices in their operations, ensuring their properties meet high environmental standards.
The company’s financial condition remains strong, supported by consistent rental income and prudent financial management. Paramount Group’s adept handling of their portfolio ensures long-term value creation for shareholders.
Through their dedicated approach to managing and enhancing their properties, Paramount Group, Inc. continues to play a crucial role in shaping the office landscapes of New York City and San Francisco, making them a key player in the real estate investment domain.
Paramount Group (NYSE: PGRE) has achieved a 5 Star rating in the 2024 GRESB Real Estate Assessment for the sixth consecutive year. The company emerged as a top performer among over 2,200 global real estate participants and received Sector Leader status in the Office/Americas category. Paramount outperformed the GRESB average score by 21% and improved upon its 2023 score. The company also achieved an 'A' rating in GRESB's Public Disclosure assessment, surpassing the global average score of 'B', demonstrating strong data transparency and stakeholder engagement practices.
Paramount Group (NYSE: PGRE) reported Q3 2024 results with a net loss of $9.7 million ($0.04 per share), compared to $8.4 million loss in Q3 2023. Core FFO was $40.5 million ($0.19 per share), down from $47.6 million ($0.22 per share) in Q3 2023. The company raised its full-year 2024 guidance, with Core FFO now expected between $0.78-$0.80 per share.
Same Store NOI increased 1.8% while Same Store Cash NOI decreased 2.9% year-over-year. The company leased 179,403 square feet at a weighted average initial rent of $84.55 per square foot, with negative mark-to-markets of 4.2% on GAAP basis and 10.4% on cash basis.
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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