Paramount Group (PGRE) Getting Somewhat Positive Media Coverage, Accern Reports
News coverage about Paramount Group (NASDAQ:PGRE) has trended somewhat positive on Tuesday, according to Accern Sentiment. The research group ranks the sentiment of news coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Paramount Group earned a media sentiment score of 0.11 on Accern’s scale. Accern also gave press coverage about the company an impact score of 47.364239543605 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Shares of Paramount Group (PGRE) opened at 16.15 on Tuesday. The company has a 50-day moving average of $15.92 and a 200-day moving average of $16.07. Paramount Group has a 1-year low of $14.58 and a 1-year high of $17.58. The firm has a market capitalization of $3.86 billion and a PE ratio of 38.27.
Paramount Group (NASDAQ:PGRE) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The business had revenue of $177.70 million during the quarter, compared to the consensus estimate of $170.11 million. Paramount Group had a return on equity of 10.10% and a net margin of 77.76%. The company’s revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.23 earnings per share. Equities research analysts predict that Paramount Group will post $0.42 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Thursday, September 28th.
Paramount Group announced that its board has authorized a stock buyback plan on Thursday, August 3rd that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to purchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
A number of research firms recently commented on PGRE. Goldman Sachs Group, Inc. (The) began coverage on shares of Paramount Group in a research note on Thursday, June 22nd. They issued a “sell” rating and a $15.00 target price for the company. Zacks Investment Research upgraded shares of Paramount Group from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Wednesday, August 23rd. Morgan Stanley cut shares of Paramount Group from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $17.50 to $15.00 in a research note on Tuesday, June 13th. Finally, Mizuho cut shares of Paramount Group from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $17.00 to $15.00 in a research note on Monday, July 10th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $16.42.
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Paramount Group Company Profile
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).
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