$179.11 Million in Sales Expected for Paramount Group Inc (PGRE) This Quarter
Equities analysts expect Paramount Group Inc (NYSE:PGRE) to post sales of $179.11 million for the current quarter, Zacks reports. Two analysts have provided estimates for Paramount Group’s earnings. The lowest sales estimate is $175.92 million and the highest is $182.29 million. Paramount Group reported sales of $166.80 million in the same quarter last year, which would suggest a positive year over year growth rate of 7.4%. The business is expected to report its next earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that Paramount Group will report full-year sales of $179.11 million for the current financial year, with estimates ranging from $698.18 million to $733.57 million. For the next year, analysts anticipate that the business will report sales of $752.61 million per share, with estimates ranging from $738.15 million to $769.55 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Paramount Group.
Paramount Group (NYSE:PGRE) last posted its quarterly earnings results on Monday, November 6th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. Paramount Group had a return on equity of 1.76% and a net margin of 12.29%. The business had revenue of $179.80 million for the quarter, compared to analyst estimates of $172.85 million. During the same period last year, the company earned $0.20 EPS. Paramount Group’s revenue for the quarter was up 5.0% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PGRE. Oppenheimer Asset Management Inc. lifted its holdings in Paramount Group by 1.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,625 shares of the financial services provider’s stock worth $122,000 after buying an additional 75 shares during the period. Teton Advisors Inc. lifted its holdings in Paramount Group by 37.7% in the 3rd quarter. Teton Advisors Inc. now owns 17,900 shares of the financial services provider’s stock worth $286,000 after buying an additional 4,900 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Paramount Group by 6,222.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 20,423 shares of the financial services provider’s stock worth $327,000 after buying an additional 20,100 shares during the period. Quantbot Technologies LP purchased a new stake in Paramount Group in the 3rd quarter worth approximately $333,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in Paramount Group in the 2nd quarter worth approximately $377,000. Institutional investors and hedge funds own 62.20% of the company’s stock.
Paramount Group (NYSE PGRE) traded down $0.15 on Thursday, reaching $15.21. The company had a trading volume of 1,019,700 shares, compared to its average volume of 996,729. Paramount Group has a fifty-two week low of $15.12 and a fifty-two week high of $17.58. The company has a market cap of $3,735.55, a price-to-earnings ratio of 41.11, a price-to-earnings-growth ratio of 3.32 and a beta of 0.80.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 29th will be issued a $0.095 dividend. This represents a $0.38 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, December 28th. Paramount Group’s dividend payout ratio (DPR) is currently 102.70%.
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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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