Paramount Group Inc (NASDAQ:PGRE) declared a quarterly dividend on Friday, September 15th, Wall Street Journal reports. Shareholders of record on Friday, September 29th will be paid a dividend of 0.095 per share on Friday, October 13th. This represents a $0.38 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Thursday, September 28th.

Paramount Group (PGRE) opened at 16.01 on Friday. Paramount Group has a 52 week low of $14.58 and a 52 week high of $17.58. The firm has a 50 day moving average price of $15.91 and a 200 day moving average price of $16.14. The stock has a market capitalization of $3.82 billion and a P/E ratio of 37.94.

Paramount Group (NASDAQ:PGRE) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The business had revenue of $177.70 million for the quarter, compared to analysts’ expectations of $170.11 million. Paramount Group had a return on equity of 10.10% and a net margin of 77.76%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 EPS. Equities research analysts predict that Paramount Group will post $0.42 earnings per share for the current year.

Paramount Group announced that its Board of Directors has authorized a share repurchase program on Thursday, August 3rd that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

PGRE has been the topic of a number of research reports. Goldman Sachs Group, Inc. (The) initiated coverage on Paramount Group in a research report on Thursday, June 22nd. They set a “sell” rating and a $15.00 price target on the stock. Zacks Investment Research upgraded Paramount Group from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Wednesday, May 24th. Morgan Stanley cut Paramount Group from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $17.50 to $15.00 in a research report on Tuesday, June 13th. Finally, Mizuho cut Paramount Group from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $17.00 to $15.00 in a research report on Monday, July 10th. Three analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $16.42.

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About Paramount Group

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).

Dividend History for Paramount Group (NASDAQ:PGRE)

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