Paramount Group

Paramount Group, Inc. is a real estate investment and management company. It owns, operates, manages, acquires and redevelops office properties in central business district submarkets of New York, District of Columbia and San Francisco. The company operates through the following geographical segments: New York, San Francisco and Washington. Paramount Group was founded by Werner Otto in 1978 and is headquartered in New York, NY.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Paramount Group meets FFO guidance, faces leasing challenges and undervaluation

Paramount Group delivered solid financial performance, strong leasing activity, and sustainability recognition. Challenges include leasing delays and market uncertainties. Opportunities exist in strategic partnerships and undervalued assets.

Paramount Group surpasses Q1 expectations, eyes growth opportunities cautiously

Paramount Group's Q1 performance exceeded expectations, with strong leasing activity and increased FFO guidance. The company's focus on strategic capital allocation and sustainability efforts are notable strengths. Challenges include muted transaction market activity and lease negotiation unpredictability.
Opportunities lie in the improving San Francisco market, potential value-add investments, and careful evaluation of dividend policy. Paramount Group remains cautious yet optimistic about market conditions and future growth strategies.

Paramount Group beats Q2 estimates but revises 2023 guidance downward

Paramount Group faced challenges with lease terminations impacting guidance and a loan default situation. Despite this, efforts to fill vacancies and attract tenants are ongoing, with a cautious approach to new acquisitions.

Paramount Group meets Q3 expectations, focuses on resilience and opportunities

Paramount Group's Q3 performance met expectations with strong leasing activity in key markets. The company maintains a focus on financial strength and resilience amidst economic uncertainties. Opportunities exist in early tenant renewals and strategic market positioning.
Challenges persist in the transaction market due to external factors, but Paramount Group's proactive approach to managing lease expirations and refinancing debt demonstrates sound financial management.

Paramount Group excels in Q4, eyes strategic leasing for 2024

Paramount Group's strong performance in Q4 2023 and focus on lease exploration for 2024 show resilience and strategic planning.
Emphasis on sustainability, strong lender relationships, and disciplined capital allocation are key strengths.
Challenges from 2023 addressed with a clear plan for 2024, leveraging market opportunities and enhancing tenant experience.

Paramount Group surpasses Q1 expectations with strong leasing activity

Paramount Group's Q1 performance exceeded expectations, driven by strong leasing activity and operational performance. The company's focus on sustainability, financial flexibility, and strategic leasing initiatives positions it well for growth. Challenges include maintaining pricing power in different markets and finalizing strategic decisions on dispositions and lease renewals.

Paramount Group (PGRE) reports strong Q3 earnings and outlook

Paramount Group (PGRE) demonstrated solid financial performance with Core FFO exceeding expectations.
Despite challenges in San Francisco leasing and dividend suspension, the company maintains a strong balance sheet.
Management's focus on tenant experience and cautious capital deployment positions them well for future growth.
Positive market trends and raised FFO guidance indicate a promising outlook for Paramount Group.

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Paramount Group, Inc. is a real estate investment and management company, which engages in the ownership, operation, management, acquisition, and redevelopment of office properties in central business district submarkets. It operates through the New York and San Francisco geographical segments. The company was founded by Werner Otto in 1978 and is headquartered in New York, NY.

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today that it will file its quarterly report on Form 10-Q for the quarter ended March 31, 2024 with the U.S. Securities and Exchange Commission and release its first quarter 2024 financial results on Wednesday, May 1, 2024 after the end of trading on the New York Stock Exchange. The Company will host a conference call and audio webcast on Thursday, May 2, 2024 at 10:00 a.m. Eastern Time (ET),.

Paramount Announces Release Date for First Quarter 2024 Results

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) is proud to announce that it has achieved the 2024 ENERGY STAR Partner of the Year Award from the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy. Paramount was honored among a select group of organizations for the company's contributions to energy efficiency and the transition to a clean energy economy. ENERGY STAR award winners are recognized for demonstrating sustainabili.

Paramount Earns 2024 ENERGY STAR® Partner of the Year Award

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today that it has signed a 74,000 square foot lease with Citizens at 1301 Avenue of the Americas, a 1.7 million square-foot Class A office building, located between 52nd and 53rd Streets in Midtown Manhattan. With this lease signing, the Company has made further progress leasing vacant space at 1301 Avenue of the Americas. “We are delighted to welcome Citizens Bank to 1301 Avenue of the Americ.

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

Boston Properties

Diversified Healthcare Trust

Global Net Lease

Medical Properties Trust

Orion Office REIT

Office Properties Income Trust

Shares in real estate investment trusts have bounced back in recent months, but as the commercial real estate space remains in a tough spot, there are still plenty of stocks in this category best described as REITs to sell. The main reason for this all has to do with the macro environment.

7 REITs to Sell in March Before They Crash & Burn

Paramount Group's stock has dropped 70% in the past five years with the REIT now swapping hands for 5.8x its 2024 core FFO guidance. The office REIT has a high-quality tenant base, including JPMorgan, Google, and Morgan Stanley. However, PGRE is facing salient risks from declining occupancy rates and lower asking rents on new leases.

Paramount Group: Blue Chip Tenants And Rock Bottom Valuation

COPT Defense Properties

Investors with an interest in REIT and Equity Trust - Other stocks have likely encountered both Paramount Group (PGRE) and COPT Defense (CDP). But which of these two stocks is more attractive to value investors?

PGRE vs. CDP: Which Stock Is the Better Value Option?

Paramount Group, Inc. (PGRE) Q4 2023 Earnings Call Transcript

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) filed its Annual Report on Form 10-K for the year ended December 31, 2023 today and reported results for the fourth quarter ended December 31, 2023. Fourth Quarter Highlights: Results of Operations: Reported net loss attributable to common stockholders of $205.6 million, or $0.95 per diluted share, for the quarter ended December 31, 2023, compared to $37.9 million, or $0.17 per diluted share, for the qu.

Paramount Announces Fourth Quarter 2023 Results

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today that, together with its joint venture partner, it has modified and extended the existing mortgage loan at One Market Plaza, a 1.6 million square-foot two-building trophy asset in the South Financial District of San Francisco. The existing $975 million loan, which bears interest at a fixed rate of 4.03%, was scheduled to mature on February 6, 2024. In connection with the modification, the.

Paramount Modifies and Extends Loan at One Market Plaza

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today that it 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 Wednesday, February 14, 2024 after the end of trading on the New York Stock Exchange. The Company will host a conference call and audio webcast on Thursday, February 15, 2024 at 10:00 a.m. Eastern T.

Paramount Announces Release Date for Fourth Quarter 2023 Results

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) today announced the 2023 tax treatment of its common stock dividends as described below. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of Paramount's dividends. Common Shares (CUSIP #69924R108) Record Date   Payable Date   Total Dividends Per Share     Total Dividends Allocable to 2023     2023 Taxable Ordinary Dividends (1)     Total Capital.

Paramount Announces Tax Treatment of 2023 Common Stock Dividends

CBL & Associates Properties

Highwoods Properties

Hudson Pacific Properties

Since November, excitement about lower interest rates has boosted interest-rate-sensitive stocks like real estate investment trusts (or REITs). However, as rate cut enthusiasm cools, now may be the time to determine what REITs to sell.

7 REITs to Sell in January Before They Crash and Burn

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today that it achieved a 5 Star rating in the 2023 GRESB Real Estate Assessment. Maintaining the highest GRESB rating for the fifth consecutive year is an impressive feat, especially given that survey participation increased in 2023 by 15% to include 2,084 listed and non-listed portfolios across 75 countries. Paramount was a top performer within both the Management and Performance scoring cate.

Paramount Achieves GRESB 5 Star Rating for Fifth Consecutive Year

Paramount Group, Inc. (PGRE) Q3 2023 Earnings Call Transcript

Paramount Group (PGRE) came out with quarterly funds from operations (FFO) of $0.22 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.24 per share a year ago.

Paramount Group (PGRE) Meets Q3 FFO Estimates

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) filed its Quarterly Report on Form 10-Q for the quarter ended September 30, 2023 today and reported results for the third quarter ended September 30, 2023. Third Quarter Highlights: Results of Operations: Reported net loss attributable to common stockholders of $8.4 million, or $0.04 per diluted share, for the quarter ended September 30, 2023, compared to $1.5 million, or $0.01 per diluted share, for th.

Paramount Announces Third Quarter 2023 Results

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today that it will file its quarterly report on Form 10-Q for the quarter ended September 30, 2023 with the U.S. Securities and Exchange Commission and release its third quarter 2023 financial results on Wednesday, November 1, 2023 after the end of trading on the New York Stock Exchange. The Company will host a conference call and audio webcast on Thursday, November 2, 2023 at 9:00 a.m. Easter.

Paramount Announces Release Date for Third Quarter 2023 Results

The office REIT index has crashed to nearly the same bottom as the Great Financial Crisis, indicating substantial strain for the sector. Paramount Group, a New York office REIT, has the lowest price-to-book among all >$1B REITs, potentially indicating both financial risk and deep value potential. PGRE's properties are likely worth much less than their current valuation due to lower future NOIs and interest rate-driven cap rate growth.

Paramount Group: Upcoming Debt Maturity Wall Could Mean More Downside

Arbor Realty Trust

Easterly Government Properties

Vornado Realty Trust

With hopes for lower interest rates and normalizing economic conditions, real estate investment trusts (REITs) have been moving higher. However, as macro uncertainties mount, there are now plenty of REITs to avoid in August.

7 REITs to Sell in August Before They Crash and Burn

Paramount Group, Inc. (NYSE:PGRE ) Q2 2023 Results Conference Call August 1, 2023 9:00 AM ET Company Participants Tom Hennessy - Vice President of Investor Relations Albert Behler - President and Chief Executive Officer Wilbur Paes - Chief Operating Officer and Chief Financial Officer Peter Brindley - Executive Vice President and Head of Real Estate Conference Call Participants Camille Bonnel - Bank for America Blaine Heck - Wells Fargo Jay Poskitt - Evercore ISI Ronald Kamdem - Morgan Stanley Dylan Burzinski - Green Street Operator Good day, ladies and gentlemen. Thank you for standing by.

Paramount Group, Inc. (PGRE) Q2 2023 Earnings Call Transcript

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) filed its Quarterly Report on Form 10-Q for the quarter ended June 30, 2023 today and reported results for the second quarter ended June 30, 2023. Second Quarter Highlights: Results of Operations: Reported net loss attributable to common stockholders of $47.5 million, or $0.22 per diluted share, for the quarter ended June 30, 2023, compared to net loss attributable to common stockholders of $0.4 million.

Paramount Announces Second Quarter 2023 Results

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today that it has rescheduled its second quarter 2023 conference call and audio webcast from Tuesday, August 1, 2023 at 10:00 a.m. Eastern Time (ET) to 9:00 a.m. ET on the same day. As previously disclosed, the Company still intends to file its quarterly report on Form 10-Q for the quarter ended June 30, 2023 with the U.S. Securities and Exchange Commission and release its second quarter 2023.

Paramount Reschedules Second Quarter 2023 Earnings Call to Tuesday August 1, 2023 at 9:00 AM

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today that it will file its quarterly report on Form 10-Q for the quarter ended June 30, 2023 with the U.S. Securities and Exchange Commission and release its second quarter 2023 financial results on Monday, July 31, 2023 after the end of trading on the New York Stock Exchange. The Company will host a conference call and audio webcast on Tuesday, August 1, 2023 at 10:00 a.m. Eastern Time (ET),.

Paramount Announces Release Date for Second Quarter 2023 Results

Paramount Group Inc. PGRE, +6.58% disclosed Friday that it will take an earnings hit as JPMorgan Chase & Co. gave up about one-fourth of the leased office space acquired through First Republic Bank and as its lease with SVB Securities was terminated. The real estate investment trust focused on office properties said the lease deals would reduce 2023 net income by $19.6 million, or 8 cents a share, with revenue revenue being reduced by $5.7 million.

Paramount Group REIT to take an earnings hit as JPMorgan surrenders some lease space acquired through First Republic, SVB lease agreement terminated

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount”) announced today that its board of directors has declared a reduced quarterly cash dividend of $0.035 per share of common stock (a new indicated annual rate of $0.14 per share), for the period from April 1, 2023 to June 30, 2023. The dividend will be payable on July 14, 2023, to stockholders of record as of the close of business on June 30, 2023. The reduced dividend will enable Paramount to retain an additional $40 mill.

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