Paramount Group, Inc. (PGRE) Expected to Post Quarterly Sales of $172.06 Million
Equities research analysts expect Paramount Group, Inc. (NYSE:PGRE) to report $172.06 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Paramount Group’s earnings. The highest sales estimate is $180.79 million and the lowest is $163.33 million. Paramount Group reported sales of $171.32 million in the same quarter last year, which would suggest a positive year over year growth rate of 0.4%. The firm is expected to report its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Paramount Group will report full year sales of $172.06 million for the current fiscal year, with estimates ranging from $698.18 million to $736.84 million. For the next fiscal year, analysts anticipate that the company will report sales of $756.62 million per share, with estimates ranging from $738.15 million to $781.59 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Paramount Group.
Several equities analysts recently weighed in on PGRE shares. BidaskClub raised shares of Paramount Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating on shares of Paramount Group in a research note on Thursday, June 22nd. Finally, Morgan Stanley cut shares of Paramount Group from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $17.50 to $15.00 in a research note on Tuesday, June 13th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $15.50.
Paramount Group (NYSE:PGRE) remained flat at $16.00 on Friday. 650,634 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $15.89 and its 200-day moving average price is $16.11. Paramount Group has a 12 month low of $14.58 and a 12 month high of $17.58. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 37.91 and a beta of 0.80.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 29th will be given a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend is Thursday, September 28th. Paramount Group’s dividend payout ratio is presently 92.69%.
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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