Paramount Group

Paramount Group, Inc. is a real estate investment and management company. It owns, operates, manages, acquires and redevelops office properties in central business district submarkets of New York, District of Columbia and San Francisco. The company operates through the following geographical segments: New York, San Francisco and Washington. Paramount Group was founded by Werner Otto in 1978 and is headquartered in New York, NY.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Paramount Group meets FFO guidance, faces leasing challenges and undervaluation

Paramount Group delivered solid financial performance, strong leasing activity, and sustainability recognition. Challenges include leasing delays and market uncertainties. Opportunities exist in strategic partnerships and undervalued assets.

Paramount Group surpasses Q1 expectations, eyes growth opportunities cautiously

Paramount Group's Q1 performance exceeded expectations, with strong leasing activity and increased FFO guidance. The company's focus on strategic capital allocation and sustainability efforts are notable strengths. Challenges include muted transaction market activity and lease negotiation unpredictability.
Opportunities lie in the improving San Francisco market, potential value-add investments, and careful evaluation of dividend policy. Paramount Group remains cautious yet optimistic about market conditions and future growth strategies.

Paramount Group beats Q2 estimates but revises 2023 guidance downward

Paramount Group faced challenges with lease terminations impacting guidance and a loan default situation. Despite this, efforts to fill vacancies and attract tenants are ongoing, with a cautious approach to new acquisitions.

Paramount Group meets Q3 expectations, focuses on resilience and opportunities

Paramount Group's Q3 performance met expectations with strong leasing activity in key markets. The company maintains a focus on financial strength and resilience amidst economic uncertainties. Opportunities exist in early tenant renewals and strategic market positioning.
Challenges persist in the transaction market due to external factors, but Paramount Group's proactive approach to managing lease expirations and refinancing debt demonstrates sound financial management.

Paramount Group excels in Q4, eyes strategic leasing for 2024

Paramount Group's strong performance in Q4 2023 and focus on lease exploration for 2024 show resilience and strategic planning.
Emphasis on sustainability, strong lender relationships, and disciplined capital allocation are key strengths.
Challenges from 2023 addressed with a clear plan for 2024, leveraging market opportunities and enhancing tenant experience.

Paramount Group surpasses Q1 expectations with strong leasing activity

Paramount Group's Q1 performance exceeded expectations, driven by strong leasing activity and operational performance. The company's focus on sustainability, financial flexibility, and strategic leasing initiatives positions it well for growth. Challenges include maintaining pricing power in different markets and finalizing strategic decisions on dispositions and lease renewals.

Paramount Group (PGRE) reports strong Q3 earnings and outlook

Paramount Group (PGRE) demonstrated solid financial performance with Core FFO exceeding expectations.
Despite challenges in San Francisco leasing and dividend suspension, the company maintains a strong balance sheet.
Management's focus on tenant experience and cautious capital deployment positions them well for future growth.
Positive market trends and raised FFO guidance indicate a promising outlook for Paramount Group.

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Paramount Group, Inc. is a real estate investment and management company, which engages in the ownership, operation, management, acquisition, and redevelopment of office properties in central business district submarkets. It operates through the New York and San Francisco geographical segments. The company was founded by Werner Otto in 1978 and is headquartered in New York, NY.

An investor group offered a huge premium to acquire an office REIT.

2.6 Billion More Reasons Why Offices Aren't Dead

The Paramount Group Inc (NYSE: PGRE) stock increased by 20.78% in the most recent trading session. This is why.

Paramount Group (PGRE) Stock: Why It Substantially Increased

Shares of Paramount Group Inc. PGRE, +21.15% soared 21.3% toward an 8-month high after the real estate investment trust (REIT) focused on officer properties confirmed it received an "unsolicited" buyout bid from private-equity firm Monarch Alternative Capital LP. The bid, for $12 a share in cash, represents a 29.2% premium over Thursday's closing price of $9.29, and implies a market capitalization for Paramount of about $2.2 billion.

Paramount Group stock soars after Monarch Alternative Capital's buyout bid values REIT at $2.2 billion

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) today confirmed that it has received an unsolicited, non-binding proposal from Monarch Alternative Capital LP to acquire all of the Company's outstanding common stock for $12.00 per share in cash. Consistent with its fiduciary duties and in consultation with its independent financial and legal advisors, the Paramount Board of Directors will carefully review the unsolicited proposal to determine the cour

Paramount Confirms Receipt of Unsolicited, Non-Binding Proposal from Monarch Alternative Capital

NEW YORK--(BUSINESS WIRE)--Bayerische Versorgungskammer (“BVK”) and Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today that they have formed a joint venture and acquired a retail condominium at 1600 Broadway for $191.5 million from Sherwood Equities. The 26,000 square foot retail property, which is located in the heart of Times Square, is 100% leased to Mars, Inc. and serves as the flagship location for M&M's World. In connection with the acquisition, the join

BVK and Paramount Joint Venture Acquires M&M's World Flagship Store at 1600 Broadway

Paramount Group, Inc. (PGRE) CEO Albert Behler on Q4 2021 Results - Earnings Call Transcript

Paramount Group (PGRE) delivered FFO and revenue surprises of 4.35% and 3.13%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?

Paramount Group (PGRE) Q4 FFO and Revenues Top Estimates

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today that world-renowned restaurant Din Tai Fung has signed a 15-year lease covering approximately 26,400 square feet for its Michelin Star rated restaurant at 1633 Broadway, Paramount's 48-story, 2.5 million square foot, trophy office tower located between 50th and 51st Street in Midtown Manhattan. Din Tai Fung will occupy the retail space situated beneath the glass entry cube in the public

Paramount Executes Retail Lease With Din Tai Fung for the Glass Cube at 1633 Broadway

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) filed its Annual Report on Form 10-K for the year ended December 31, 2021 today and reported results for the fourth quarter ended December 31, 2021. Fourth Quarter Highlights: Results of Operations: Reported net income attributable to common stockholders of $1.2 million, or $0.01 per diluted share, for the quarter ended December 31, 2021, compared to net loss attributable to common stockholders of $14.8

Paramount Announces Fourth Quarter 2021 Results

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today that it has achieved 2021 ENERGY STAR labels across 100% of its office portfolio, spanning 11.3 million square feet. The U.S. Environmental Protection Agency's (EPA's) ENERGY STAR certification signifies that Paramount's assets perform within the top 25 percent for energy efficiency when compared to similar buildings nationwide. Paramount also achieved the ENERGY STAR Tenant Space Recogn

Paramount Demonstrates Sustainability Leadership in Partnership with ENERGY STAR

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today that it will file its annual report on Form 10-K for the year ended December 31, 2021 with the U.S. Securities and Exchange Commission and release its fourth quarter 2021 financial results on Tuesday, February 22, 2022 after the end of trading on the New York Stock Exchange. The Company will host a conference call and audio webcast on Wednesday, February 23, 2022 at 10:00 a.m. Eastern Ti

Paramount Announces Release Date for Fourth Quarter 2021 Results

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) today announced the 2021 tax treatment of its common stock dividends as described below. Shareholders are encouraged to consult with their personal tax advisors as to their specific tax treatment of Paramount's dividends. Common Shares (CUSIP #69924R108) Record Date   Payable Date   Total Dividends Per Share     Total Dividends Allocable to 2021     2021 Taxable Ordinary Dividends (1)     Total Capital

Paramount Announces Tax Treatment of 2021 Common Stock Dividends

Lexington Realty

PGRE vs. LXP: Which Stock Is the Better Value Option?

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today that it has refinanced its existing senior unsecured revolving credit facility with a new $750 million senior unsecured revolving credit facility that matures in March 2026, with two six-month extension options. The interest rate on the new facility is 115 basis points over the secured overnight financing rate (SOFR) with adjustments based on the term of advances, plus a facility fee of

Paramount Refinances Revolving Credit Facility

PGRE or LXP: Which Is the Better Value Stock Right Now?

Paramount Group, Inc. (PGRE) CEO Albert Behler on Q3 2021 Results - Earnings Call Transcript

Paramount Group (PGRE) delivered FFO and revenue surprises of 9.52% and -2.79%, respectively, for the quarter ended September 2021. Do the numbers hold clues to what lies ahead for the stock?

Paramount Group (PGRE) Q3 FFO Beat Estimates

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE:PGRE) (“Paramount” or the “Company”) filed its Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 today and reported results for the third quarter ended September 30, 2021. Third Quarter Highlights: Results of Operations: Reported net loss attributable to common stockholders of $2.1 million, or $0.01 per diluted share, for the quarter ended September 30, 2021, compared to $7.0 million, or $0.03 per diluted share, for the

Paramount Announces Third Quarter 2021 Results

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today that it achieved a 5 Star rating in the 2021 GRESB Real Estate Assessment. This is the highest GRESB rating that distinguishes Paramount's ESG performance in the top 20% among the 1,520 companies and funds that responded globally. The GRESB Assessments are guided by what investors and the industry consider to be material issues in the sustainability performance of asset investments and a

Paramount Achieves GRESB 5 Star Rating for Third Consecutive Year

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today that it will file its quarterly report on Form 10-Q for the quarter ended September 30, 2021 with the U.S. Securities and Exchange Commission and release its third quarter 2021 financial results on Wednesday, October 27, 2021 after the end of trading on the New York Stock Exchange. The Company will host a conference call and audio webcast on Thursday, October 28, 2021 at 10:00 a.m. Easte

Paramount Announces Release Date for Third Quarter 2021 Results

Following Emma Watts' departure as President of the Motion Picture Film Group, her Co-Presidents of Production Mike Ireland and Daria Cercek are being elevated to run the film group now as co-heads. Jeremy Kramer will lead Paramount Players. Ireland and Cercek will report directly to Brian Robbins, President and Chief Executive Officer of Paramount Pictures,...

Mike Ireland & Daria Cercek Named Co-Heads Of Paramount Motion Picture Group

ViacomCBS

The transition plan for Paramount Pictures is officially set, with ViacomCBS confirming Jim Gianopulos will exit and Brian Robbins will add leadership of the studio to his growing portfolio. The changing of the guard had been reported on Friday. As follow-on reports Sunday had indicated, the other key part of the makeover will see David...

Paramount Pictures Revamp Made Official By ViacomCBS: Jim Gianopulos Exits, Brian Robbins Takes Over; David Nevins Takes Over Par TV

Paramount Group's (PGRE) recent leasing at the 1301 Avenue of the Americas will help in the backfilling of roughly 190,000 square feet of the existing vacancy.

Paramount Group (PGRE) Secures Leases at Midtown Manhattan

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today that it signed leases aggregating 279,000 square feet at 1301 Avenue of the Americas, a 1.7 million square-foot trophy office building, located between 52nd and 53rd Streets in Midtown Manhattan. The leases include (i) a new 167,000 square foot lease with Credit Agricole CIB, a leading global corporate and investment bank, and (ii) a 112,000 square feet renewal and expansion lease with S

Paramount Signs Leases Aggregating 279,000 Square Feet at 1301 Avenue of the Americas

Hollywood studio Paramount Pictures slapped its insurance company with a lawsuit Monday after it refused to cover the majority of its losses due to pandemic-related shutdowns on “Mission Impossible 7.” Paramount claims in its lawsuit that its insurer, Chubb, said it will pay only $1 million for COVID-19  losses under its “civil authority” policy.

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