Paramount Group Inc (NYSE:PGRE) announced a quarterly dividend on Monday, September 17th, Wall Street Journal reports. Shareholders of record on Friday, September 28th will be given a dividend of 0.10 per share by the financial services provider on Monday, October 15th. This represents a $0.40 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Thursday, September 27th.

Paramount Group has a payout ratio of 42.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Paramount Group to earn $1.01 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 39.6%.

NYSE PGRE traded up $0.17 on Monday, hitting $15.63. The stock had a trading volume of 1,441,265 shares, compared to its average volume of 1,258,269. Paramount Group has a 52-week low of $13.70 and a 52-week high of $16.61. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.49 and a quick ratio of 0.08. The stock has a market capitalization of $3.75 billion, a PE ratio of 17.45, a P/E/G ratio of 5.17 and a beta of 0.67.

Paramount Group (NYSE:PGRE) last posted its earnings results on Wednesday, August 1st. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.01. Paramount Group had a negative net margin of 6.89% and a negative return on equity of 1.01%. The business had revenue of $191.40 million for the quarter, compared to analysts’ expectations of $186.41 million. During the same period in the prior year, the company posted $0.23 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. research analysts anticipate that Paramount Group will post 0.95 EPS for the current year.

Several analysts have recently weighed in on PGRE shares. Zacks Investment Research upgraded shares of Paramount Group from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Tuesday, August 21st. Deutsche Bank raised their price objective on shares of Paramount Group from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, August 29th. ValuEngine upgraded shares of Paramount Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. Finally, Morgan Stanley lowered their price objective on shares of Paramount Group from $15.00 to $14.50 and set an “underweight” rating on the stock in a research report on Thursday, June 14th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Paramount Group currently has a consensus rating of “Hold” and an average target price of $16.70.

About Paramount Group

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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