Paramount Group Inc (PGRE) Expected to Announce Quarterly Sales of $179.11 Million
Equities analysts expect Paramount Group Inc (NYSE:PGRE) to post $179.11 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Paramount Group’s earnings, with the lowest sales estimate coming in at $175.92 million and the highest estimate coming in at $182.29 million. Paramount Group posted sales of $166.80 million during the same quarter last year, which would indicate a positive year over year growth rate of 7.4%. The company is expected to announce its next quarterly earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that Paramount Group will report full-year sales of $179.11 million for the current year, with estimates ranging from $698.18 million to $733.57 million. For the next fiscal year, analysts anticipate that the firm will post sales of $752.61 million per share, with estimates ranging from $738.15 million to $769.55 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Paramount Group.
Paramount Group (NYSE:PGRE) last released its earnings results on Monday, November 6th. The financial services provider reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.01. Paramount Group had a net margin of 12.29% and a return on equity of 1.76%. The company had revenue of $179.80 million during the quarter, compared to analysts’ expectations of $172.85 million. During the same quarter last year, the business earned $0.20 EPS. The business’s revenue was up 5.0% on a year-over-year basis.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement Association of Colorado increased its holdings in Paramount Group by 9.2% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 6,238 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 526 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in Paramount Group by 5.6% during the 2nd quarter. Great West Life Assurance Co. Can now owns 108,007 shares of the financial services provider’s stock valued at $1,726,000 after acquiring an additional 5,711 shares in the last quarter. TD Asset Management Inc. increased its holdings in Paramount Group by 8.1% during the 2nd quarter. TD Asset Management Inc. now owns 55,901 shares of the financial services provider’s stock valued at $894,000 after acquiring an additional 4,200 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Paramount Group by 14.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,888,930 shares of the financial services provider’s stock valued at $30,223,000 after acquiring an additional 231,993 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Paramount Group by 4.5% during the 2nd quarter. Rhumbline Advisers now owns 217,655 shares of the financial services provider’s stock valued at $3,482,000 after acquiring an additional 9,302 shares in the last quarter. Institutional investors and hedge funds own 62.20% of the company’s stock.
Shares of Paramount Group (PGRE) opened at $15.58 on Monday. Paramount Group has a 52 week low of $15.14 and a 52 week high of $17.58. The company has a market cap of $3,720.00, a price-to-earnings ratio of 42.11, a PEG ratio of 3.48 and a beta of 0.80.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be issued a $0.095 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 2.44%. Paramount Group’s dividend payout ratio is presently 102.70%.
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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).
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