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PARAMOUNT GROUP, INC. - PGRE STOCK NEWS

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.

News

Paramount Signs 74,000 Square Foot Lease at 1301 Avenue of the Americas

Rhea-AI Summary
Paramount Group, Inc. (PGRE) signed a 74,000 square foot lease with Citizens Bank at 1301 Avenue of the Americas, a Class A office building in Midtown Manhattan. The lease signifies progress in leasing vacant space and adds to Paramount's prestigious tenant roster.
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Paramount Declares Regular Quarterly Dividend

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Paramount Group, Inc. (PGRE) declares a regular quarterly cash dividend of $0.035 per share for the period from January 1, 2024, to March 31, 2024. The dividend will be payable on April 15, 2024, to stockholders of record as of March 28, 2024.
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Paramount Announces Fourth Quarter 2023 Results

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Paramount Group, Inc. (NYSE: PGRE) reports a net loss for the fourth quarter of 2023, including non-cash real estate impairment losses, a decrease in Same Store NOI, and leasing activity details. The Company also modified and extended a mortgage loan on a San Francisco asset.
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Paramount Modifies and Extends Loan at One Market Plaza

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Paramount Group, Inc. (PGRE) has announced the modification and extension of an existing mortgage loan at One Market Plaza in San Francisco, reducing the loan balance to $850 million and extending the maturity to February 2027. The loan bears interest at a fixed rate of 4.08% and has an option to extend for an additional year. Wilbur Paes, COO, CFO, and Treasurer of Paramount, expressed satisfaction with the successful completion of the loan modification.
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Paramount Announces Release Date for Fourth Quarter 2023 Results

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Paramount Group, Inc. (NYSE: PGRE) will file its annual report on Form 10-K for the year ended December 31, 2023 with the U.S. Securities and Exchange Commission and release its fourth quarter 2023 financial results on February 14, 2024. The company will host a conference call on February 15, 2024 to discuss the results and provide commentary on business performance.
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Paramount Announces Tax Treatment of 2023 Common Stock Dividends

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Paramount Group, Inc. (PGRE) announces the 2023 tax treatment of its common stock dividends. Shareholders are encouraged to consult with their tax advisors. The total dividends per share for 2023 are $0.225, with $0.177295 taxable as ordinary dividends and $0.018849 non-taxable. The company also details the tax treatment for each quarterly dividend in 2023.
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Paramount Declares Regular Quarterly Dividend

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Paramount Group, Inc. (NYSE: PGRE) declares $0.035 per share quarterly dividend
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Paramount Achieves GRESB 5 Star Rating for Fifth Consecutive Year

Rhea-AI Summary
Paramount Group, Inc. (NYSE: PGRE) achieved a 5 Star rating in the 2023 GRESB Real Estate Assessment, maintaining the highest GRESB rating for the fifth consecutive year. The company outperformed the GRESB peer score by 6% and the GRESB average score by 18%. Paramount also achieved the highest Public Disclosure level of an 'A,' surpassing the GRESB global average score of a 'B.'
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Paramount Announces Third Quarter 2023 Results

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Paramount Group, Inc. (NYSE: PGRE) reported a net loss of $8.4 million for Q3 2023, compared to $1.5 million in Q3 2022. Core FFO was $47.8 million, down from $54.2 million in the previous year. The company updated its full-year 2023 earnings guidance, with an estimated net loss of $0.33 to $0.31 per diluted share and Core FFO of $0.85 to $0.87 per diluted share. Same Store Cash NOI decreased by 7.1% and Same Store NOI decreased by 10.3% in Q3 2023. The company completed a $232.0 million refinancing of a San Francisco office building and declared a cash dividend of $0.035 per common share.
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Paramount Announces Release Date for Third Quarter 2023 Results

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Paramount Group, Inc. (NYSE: PGRE) will release its Q3 2023 financial results on November 1, 2023. The company will host a conference call on November 2, 2023 to discuss the results and business performance.
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FAQ

What is the current stock price of PARAMOUNT GROUP (PGRE)?

The current stock price of PARAMOUNT GROUP (PGRE) is $4.81 as of December 20, 2024.

What is the market cap of PARAMOUNT GROUP (PGRE)?

The market cap of PARAMOUNT GROUP (PGRE) is approximately 1.0B.

What is Paramount Group, Inc.?

Paramount Group, Inc. is a real estate investment trust specializing in owning, managing, and redeveloping Class A office properties in New York City and San Francisco.

Where is Paramount Group, Inc. headquartered?

Paramount Group, Inc. is headquartered at 10 Pickney Colony Office Park, Bluffton, South Carolina, United States.

What type of properties does Paramount Group, Inc. focus on?

Paramount Group, Inc. focuses on high-quality, Class A office properties in central business districts of New York City and San Francisco.

How does Paramount Group, Inc. generate revenue?

Paramount Group, Inc. generates nearly all its revenue from leasing office spaces to tenants.

What recent achievements has Paramount Group, Inc. made?

Paramount Group, Inc. has successfully leased a substantial portion of their office space, maintained high occupancy rates, and completed several redevelopment projects.

What markets does Paramount Group, Inc. operate in?

Paramount Group, Inc. operates in the central business districts of New York City and San Francisco.

What is the financial condition of Paramount Group, Inc.?

Paramount Group, Inc. maintains a strong financial condition supported by consistent rental income and prudent financial management.

How does Paramount Group, Inc. contribute to sustainability?

Paramount Group, Inc. has implemented numerous eco-friendly practices to ensure their properties meet high environmental standards.

Are there any current projects by Paramount Group, Inc.?

Paramount Group, Inc. is involved in several redevelopment projects aimed at enhancing the value of their existing properties.

Who are the typical tenants of Paramount Group, Inc.’s properties?

Paramount Group, Inc.'s properties are leased to a diverse range of high-profile tenants.

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PARAMOUNT GROUP, INC.

NYSE:PGRE

PGRE Rankings

#2488 Ranked by Market Cap
#1110 Ranked by Dividends

PGRE Stock Data

1.05B
182.90M
15.92%
66.52%
1.23%
REIT - Office
Real Estate Investment Trusts
Link
United States of America
NEW YORK