Zacks: Brokerages Anticipate Paramount Group, Inc. (PGRE) Will Post Quarterly Sales of $172.06 Million
Wall Street analysts expect Paramount Group, Inc. (NYSE:PGRE) to post $172.06 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Paramount Group’s earnings, with the highest sales estimate coming in at $180.79 million and the lowest estimate coming in at $163.33 million. Paramount Group reported sales of $171.32 million in the same quarter last year, which indicates a positive year over year growth rate of 0.4%. The firm is scheduled to announce its next earnings report after the market closes on Monday, November 6th.
On average, analysts expect that Paramount Group will report full year sales of $172.06 million for the current year, with estimates ranging from $698.18 million to $736.84 million. For the next year, analysts expect that the business will report sales of $756.62 million per share, with estimates ranging from $738.15 million to $781.59 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Paramount Group.
Separately, BidaskClub cut shares of Paramount Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $15.50.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were paid a $0.095 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $0.38 annualized dividend and a dividend yield of 2.39%. Paramount Group’s dividend payout ratio is 92.69%.
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Paramount Group Company Profile
Paramount Group, Inc is a fully-integrated real estate investment trust (REIT) focused on owning, operating, managing, acquiring and redeveloping Class A office properties in select central business district submarkets of New York City, Washington, District of Columbia (DC) and San Francisco. The Company conducts its business through, and substantially all its interests in properties and investments are held by, Paramount Group Operating Partnership LP (the Operating Partnership).
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