Analysts expect that Paramount Group Inc (NYSE:PGRE) will report $178.30 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Paramount Group’s earnings. The lowest sales estimate is $175.92 million and the highest is $180.68 million. Paramount Group reported sales of $166.80 million in the same quarter last year, which indicates a positive year over year growth rate of 6.9%. The business is scheduled to announce its next earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that Paramount Group will report full-year sales of $178.30 million for the current fiscal year, with estimates ranging from $698.18 million to $733.57 million. For the next financial year, analysts forecast that the firm will post sales of $755.21 million per share, with estimates ranging from $745.95 million to $769.55 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Paramount Group.
Paramount Group (NYSE:PGRE) last issued its earnings results on Monday, November 6th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. Paramount Group had a net margin of 12.29% and a return on equity of 1.76%. The business had revenue of $179.80 million for the quarter, compared to analysts’ expectations of $172.85 million. During the same quarter in the previous year, the firm posted $0.20 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year.
Shares of Paramount Group (PGRE) opened at $14.97 on Friday. Paramount Group has a 1-year low of $14.78 and a 1-year high of $17.58. The stock has a market cap of $3,570.00, a price-to-earnings ratio of 40.46, a price-to-earnings-growth ratio of 3.23 and a beta of 0.80.
The company also recently declared a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, December 29th were given a dividend of $0.095 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 2.54%. Paramount Group’s dividend payout ratio (DPR) is currently 102.70%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in PGRE. JPMorgan Chase & Co. grew its position in shares of Paramount Group by 21,400.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 217,589 shares of the financial services provider’s stock valued at $3,481,000 after purchasing an additional 216,577 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Paramount Group by 2.6% during the 2nd quarter. Alliancebernstein L.P. now owns 221,592 shares of the financial services provider’s stock valued at $3,545,000 after purchasing an additional 5,590 shares in the last quarter. Teachers Advisors LLC grew its position in shares of Paramount Group by 13.1% during the 2nd quarter. Teachers Advisors LLC now owns 286,939 shares of the financial services provider’s stock valued at $4,591,000 after purchasing an additional 33,143 shares in the last quarter. TIAA CREF Investment Management LLC grew its position in shares of Paramount Group by 22.8% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 706,538 shares of the financial services provider’s stock valued at $11,305,000 after purchasing an additional 131,392 shares in the last quarter. Finally, BlackRock Inc. grew its position in shares of Paramount Group by 13.0% during the 2nd quarter. BlackRock Inc. now owns 13,109,633 shares of the financial services provider’s stock valued at $209,754,000 after purchasing an additional 1,504,277 shares in the last quarter. Hedge funds and other institutional investors own 62.20% of the company’s stock.
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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