Paramount Group (NYSE:PGRE) Issues FY 2024 Earnings Guidance

Paramount Group (NYSE:PGRE) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.760-0.800 for the period, compared to the consensus EPS estimate of 0.770. The company issued revenue guidance of -. Paramount Group also updated its FY24 guidance to $0.76-$0.80 EPS.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Paramount Group from a sell rating to a hold rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $4.60.

Paramount Group Trading Up 1.4 %

Shares of NYSE PGRE traded up $0.07 during trading hours on Wednesday, reaching $5.24. The stock had a trading volume of 1,785,509 shares, compared to its average volume of 1,238,469. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -4.52, a P/E/G ratio of 0.26 and a beta of 1.26. The company has a current ratio of 4.03, a quick ratio of 4.03 and a debt-to-equity ratio of 0.90. Paramount Group has a 52-week low of $4.06 and a 52-week high of $5.92. The business’s fifty day moving average price is $4.77 and its two-hundred day moving average price is $4.71.

Paramount Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Friday, June 28th. Paramount Group’s payout ratio is -12.07%.

About Paramount Group

Paramount Group, Inc ("Paramount" or the "Company") is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York and San Francisco.