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

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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.

Paramount Group (PGRE) delivered FFO and revenue surprises of 10.00% and -0.13%, respectively, for the quarter ended June 2021. Do the numbers hold clues to what lies ahead for the stock?

Paramount Group (PGRE) Tops Q2 FFO 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 June 30, 2021 today and reported results for the second quarter ended June 30, 2021. Second Quarter Highlights: Results of Operations: Reported net loss attributable to common stockholders of $15.9 million, or $0.07 per diluted share, for the quarter ended June 30, 2021, compared to $6.3 million, or $0.03 per diluted share, for the quarter en

Paramount Announces Second Quarter 2021 Results

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NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE:PGRE) (“Paramount” or the “Company”) announced today that it has rescheduled its second quarter 2021 conference call and audio webcast from Wednesday, July 28, 2021 at 10:00 a.m. Eastern Time (ET) to 9:00 a.m. ET on the same day. As previously disclosed, the Company still intends to file its quarterly report on Form 10-Q for the quarter ended June 30, 2021 with the U.S. Securities and Exchange Commission and release its second quarter 2021

Paramount Reschedules Second Quarter 2021 Earnings Call to Wednesday July 28, 2021 at 9:00 AM

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 June 30, 2021 with the U.S. Securities and Exchange Commission and release its second quarter 2021 financial results on Tuesday, July 27, 2021 after the end of trading on the New York Stock Exchange. The Company will host a conference call and audio webcast on Wednesday, July 28, 2021 at 10:00 a.m. Eastern Time (ET

Paramount Announces Release Date for Second Quarter 2021 Results

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc.(NYSE: PGRE) (“Paramount” or the “Company”) announced today that Albert Behler, Chairman, Chief Executive Officer and President, Wilbur Paes, Chief Operating Officer, Chief Financial Officer, and Treasurer, and Peter Brindley, Executive Vice President, Head of Real Estate, will participate in Nareit's REITWeek: 2021 Virtual Investor Conference on Tuesday, June 8, 2021. An investor presentation to be used during the conference, which may include up

Paramount to Participate in Nareit's REITWeek 2021

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) is pleased to announce that it has become a Fitwel Champion, reflecting its strong commitment to create office environments that encourage health and wellness among tenants and employees. Paramount has achieved Fitwel certification across 10 properties aggregating approximately nine million square feet. Fitwel is a rigorous third-party healthy building certification system operated by the Center for Act

Paramount Achieves Fitwel Champion Status

NEW YORK, May 17, 2021 /PRNewswire/ -- Paramount Group, Inc. (NYSE: PGRE) ("Paramount") today announced plans for an extensive repositioning of 60 Wall Street's base and interiors, including its soaring lobby and vast public atrium. With construction set to begin in summer of 2022, the postmodern building's revitalization includes a transformative opening up of the facade, new triple height windows, the addition of a skylight to cast natural light into the atrium, and the installation of the largest indoor green wall in North America.

Paramount Announces Major Investment Plan To Modernize And Reimagine 60 Wall Street Office Tower

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Paramount Group, Inc. (PGRE) CEO Albert Behler on Q1 2021 Results - Earnings Call Transcript

Paramount Group (PGRE) delivered FFO and revenue surprises of 9.52% and 0.26%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?

Paramount Group (PGRE) Q1 FFO and Revenues Top Estimates

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today that subsequent to the end of the first quarter, it signed a 54,095 square foot lease with Bracewell LLP (“Bracewell”) at 31 West 52nd Street, a 29-story Class A trophy office tower located between 5th and 6th Avenue in Midtown Manhattan. Bracewell will occupy the entire 18th and 19th floors for an initial lease term of 16.1 years. The signing of this lease backfills over 40% of the upco

Paramount Signs 54,095 Square Foot Lease with Bracewell LLP

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 March 31, 2021 today and reported results for the first quarter ended March 31, 2021. First Quarter Highlights: Results of Operations: Reported net loss attributable to common stockholders of $3.6 million, or $0.02 per diluted share, for the quarter ended March 31, 2021, compared to net income attributable to common stockholders of $3.3 milli

Paramount Announces First Quarter 2021 Results

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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 March 31, 2021 with the U.S. Securities and Exchange Commission and release its first quarter 2021 financial results on Wednesday, April 28, 2021 after the end of trading on the New York Stock Exchange. The Company will host a conference call and audio webcast on Thursday, April 29, 2021 at 10:00 a.m. Eastern Time

Paramount Announces Release Date for First Quarter 2021 Results

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Paramount Group, Inc. (PGRE) CEO Albert Behler on Q4 2020 Results - Earnings Call Transcript

Paramount Group (PGRE) delivered FFO and revenue surprises of 4.35% and 4.08%, respectively, for the quarter ended December 2020. Do the numbers hold clues to what lies ahead for the stock?

Paramount Group (PGRE) Tops Q4 FFO and Revenue Estimates

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, 2020 today and reported results for the fourth quarter ended December 31, 2020. Fourth Quarter Highlights: Results of Operations: Reported net loss attributable to common stockholders of $14.8 million, or $0.07 per diluted share, for the quarter ended December 31, 2020, compared to a net loss attributable to common stockholders of $50.

Paramount Announces Fourth Quarter 2020 Results

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today the promotion of two executives within the Company's senior management team. Wilbur Paes has been appointed Chief Operating Officer, Chief Financial Officer and Treasurer as he has taken on additional responsibilities in the newly created position of Chief Operating Officer. Mr. Paes has been with Paramount since 2014. Prior to joining Paramount, he was a Senior Vice President at Vornado

Paramount Announces Executive Promotions

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, 2020 with the U.S. Securities and Exchange Commission and release its fourth quarter 2020 financial results on Wednesday, February 10, 2021 after the end of trading on the New York Stock Exchange. The Company will host a conference call and audio webcast on Thursday, February 11, 2021 at 10:00 a.m. Eastern T

Paramount Announces Release Date for Fourth Quarter 2020 Results

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) today announced the 2020 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 2020     2020 Taxable Ordinary Dividends (1)     Total Capital

Paramount Announces Tax Treatment of 2020 Common Stock Dividends

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) announced today that it has completed the previously announced sale of 1899 Pennsylvania Avenue, a 190,955 square foot trophy office building located in Washington, D.C. The final sales price was $103 million, and reflected a $12 million, or 10% reduction versus the previously announced sales price, due to the ongoing COVID-19 pandemic. With the closing of this transaction, Paramount has completed its s

Paramount Completes Sale of 1899 Pennsylvania Avenue

PGRE is a Class A office property REIT that is down ~40% since March 2020. It is currently trading at a ~50% discount to NAV; in other words, it's a dollar bill selling for $0.50-$0.60, backed by cash-generating real estate.

Paramount Group: An All-In Wager On The Economic Future Of NYC With A 50% Upside

NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) (“Paramount”) announced today that its board of directors has declared a decreased quarterly cash dividend of $0.07 per share of common stock for the period from October 1, 2020 to December 31, 2020. The dividend will be payable on January 15, 2021 to stockholders of record as of the close of business on December 31, 2020. The reduction in dividend policy is viewed by the board as a prudent and proactive strategy to preserve liquidit

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