Paramount Group Inc (PGRE) Rating Lowered to Hold at Zacks Investment Research
According to Zacks, “Paramount Group, Inc. is a real estate investment trust focused on owning, operating and managing Class A office properties. It provides asset management, leasing, acquisitions, redevelopment and financing. The Company owns properties in New York City, Washington D.C. and San Francisco. Paramount Group, Inc. is based in the United States. “
Other research analysts also recently issued reports about the company. Deutsche Bank AG upped their price target on Paramount Group from $20.00 to $21.00 and gave the company a “buy” rating in a report on Monday, July 18th. BTIG Research initiated coverage on Paramount Group in a report on Thursday, August 25th. They set a “neutral” rating on the stock.
Shares of Paramount Group (NASDAQ:PGRE) opened at 15.80 on Friday. The stock’s 50 day moving average is $16.89 and its 200 day moving average is $16.65. The firm has a market cap of $3.47 billion and a P/E ratio of 526.67. Paramount Group has a 12 month low of $14.23 and a 12 month high of $18.56.
Paramount Group (NASDAQ:PGRE) last posted its earnings results on Thursday, August 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The business had revenue of $172.30 million for the quarter, compared to analysts’ expectations of $159.90 million. During the same period last year, the firm posted $0.22 earnings per share. Paramount Group’s quarterly revenue was up 5.8% on a year-over-year basis. Equities research analysts expect that Paramount Group will post $0.85 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were issued a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Wednesday, September 28th.
About Paramount Group
Paramount Group, Inc is a 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 primarily through Paramount Group Operating Partnership LP.
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