Paramount Group Inc (NYSE:PGRE) Plans Quarterly Dividend of $0.10

Paramount Group Inc (NYSE:PGRE) announced a quarterly dividend on Wednesday, September 16th, Wall Street Journal reports. Stockholders of record on Wednesday, September 30th will be given a dividend of 0.10 per share by the financial services provider on Thursday, October 15th. This represents a $0.40 annualized dividend and a dividend yield of 5.07%. The ex-dividend date of this dividend is Tuesday, September 29th.

Paramount Group has increased its dividend payment by 5.3% over the last three years and has raised its dividend every year for the last 1 years.

NYSE PGRE traded up $0.31 on Wednesday, reaching $7.89. 3,222,140 shares of the company’s stock traded hands, compared to its average volume of 2,150,458. Paramount Group has a fifty-two week low of $6.42 and a fifty-two week high of $15.00. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -37.57 and a beta of 0.97. The stock has a 50 day moving average price of $7.31 and a 200-day moving average price of $8.22.

Paramount Group (NYSE:PGRE) last released its quarterly earnings data on Wednesday, July 29th. The financial services provider reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.27). Paramount Group had a negative net margin of 6.18% and a negative return on equity of 1.08%. The company had revenue of $171.12 million for the quarter, compared to analysts’ expectations of $179.54 million. During the same quarter in the previous year, the business posted $0.23 EPS. The business’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, equities research analysts anticipate that Paramount Group will post 0.96 EPS for the current fiscal year.

PGRE has been the subject of a number of analyst reports. Morgan Stanley decreased their price target on Paramount Group from $9.50 to $9.00 and set an “overweight” rating for the company in a report on Thursday, June 25th. Wells Fargo & Company reissued a “market perform” rating and set a $15.00 price target on shares of Paramount Group in a report on Sunday, July 5th. Zacks Investment Research lowered shares of Paramount Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 26th. ValuEngine downgraded shares of Paramount Group from a “sell” rating to a “strong sell” rating in a research report on Monday, August 3rd. Finally, Deutsche Bank cut Paramount Group from a “buy” rating to a “hold” rating and set a $9.00 target price on the stock. in a research report on Monday, July 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Paramount Group presently has a consensus rating of “Hold” and an average price target of $11.36.

Paramount Group Company Profile

Headquartered in New York City, Paramount Group, Inc is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City, Washington, DC and San Francisco.

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Dividend History for Paramount Group (NYSE:PGRE)

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