Paramount Group Inc Announces Quarterly Dividend of $0.10 (PGRE)
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.
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.
Featured Story: Market Capitalization and Individual Investors
Receive News & Ratings for Paramount Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paramount Group and related companies with MarketBeat.com's FREE daily email newsletter.