Streetbeat News

PGRE

Paramount Group, Inc.

Industry

REIT - Office

Headquartered in New York City, Paramount Group, Inc. 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 City and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.

Open

5.22

Mkt cap

1.1B

Volume

748K

High

5.29

P/E Ratio

-5.24

52-wk high

5.92

Low

5.20

Div yield

0.02

52-wk low

4.06

Evercore ISI Group analyst Steve Sakwa upgraded Paramount Group (NYSE:PGRE) from Underperform to In-Line and set a $5 price target.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 10:02 am

Paramount Group Inc has filed for a mixed shelf offering according to an SEC filing, though the size of the offering has not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 9:12 pm

Paramount Group (NYSE:PGRE) reported a decrease in Q4 FFO to $0.21 per share from $0.25 YoY, but sales increased to $192.47M, beating the $176.98M estimate.

Portfolio Pulse from Benzinga Newsdesk

February 14, 2024 | 9:31 pm

Earnings reports for various companies are scheduled for February 14, 2024. The report includes projections for earnings per share and revenue for a wide range of companies across different sectors, including technology, healthcare, industrial, consumer goods, and financial services. Some companies are expected to report losses, while others anticipate profits.

Portfolio Pulse from Benzinga Insights

February 14, 2024 | 9:48 am

The office real estate market faces a challenging period with $2.77 trillion of commercial real estate debt maturing from 2023 to 2027, nearly $500 billion in 2024 alone. High interest rates and declining property values complicate refinancing. The Fed Beige Book noted suppressed transactions and concerns over credit performance. Stocks in the sector, including the VanEck Office and Commercial REIT ETF (DESK), have declined. Worst-performing CRE stocks include Office Properties Income Trust (OPI), Orion Office REIT Inc. (ONL), Hudson Pacific Properties, Inc. (HPP), Paramount Group, Inc. (PGRE), Vornado Realty Trust (VNO), and Kimco Realty Corporation (KIM). The broader market and real estate sector, represented by SPDR S&P 500 ETF Trust (SPY) and Real Estate Select Sector SPDR Fund (XLRE), have outperformed the office real estate segment.

Portfolio Pulse from Piero Cingari

January 18, 2024 | 3:26 pm

Wall Street analysts have updated their price targets and ratings for several stocks. Citigroup upgraded HP Inc. (HPQ) to Buy and raised its price target, resulting in a 2.2% rise in HP's shares. UBS upgraded Noah Holdings (NOAH) to Buy, with shares up 1.6% in pre-market trading. Piper Sandler upgraded Health Catalyst (HCAT) to Overweight despite a price target cut. AXIS Capital (AXS) was upgraded by Keefe, Bruyette & Woods to Outperform with a higher price target. HC Wainwright maintained a Buy rating on Nouveau Monde Graphite (NMG) but lowered its price target. Wells Fargo downgraded Barings BDC (BBDC) and Crescent Capital BDC (CCAP) to Equal-Weight with reduced price targets. B of A Securities downgraded Paramount Group (PGRE) to Underperform with a lower price target. Barclays downgraded Waters Corporation (WAT) to Underweight and reduced its price target. Goldman Sachs maintained a Neutral rating on GoodRx Holdings (GDRX) but cut its price target.

Portfolio Pulse from Lisa Levin

November 13, 2023 | 1:32 pm

B of A Securities analyst Camille Bonnel downgraded Paramount Group (NYSE:PGRE) from Neutral to Underperform and reduced the price target from $5 to $4.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 1:18 pm

Paramount Group (NYSE:PGRE) reported Q3 2023 core FFO of $0.22 per share, down 8.33% YoY. However, the company's quarterly sales of $189.18M beat the analyst consensus estimate of $182.27M by 3.79%, marking a 1.09% increase over the same period last year.

Portfolio Pulse from totan@benzinga.com

November 01, 2023 | 8:56 pm

Mizuho analyst Vikram Malhotra maintains a Buy rating on Paramount Group (NYSE:PGRE) but lowers the price target from $7 to $6.

Portfolio Pulse from Benzinga Newsdesk

October 18, 2023 | 4:55 pm

Real estate stocks, tracked by the Real Estate Select Sector SPDR Fund (NYSE:XLRE), fell by over 1% on Thursday, ending a six-day winning streak. This was due to higher inflation rates and a surge in mortgage rates to 23-year highs. Office REITs were the hardest hit, with Hudson Pacific Properties Inc. (NYSE:HPP), Paramount Group Inc. (NYSE:PGRE), Douglas Emmett, Inc. (NYSE:DEI), and Vornado Realty Trust (NYSE:VNO) experiencing significant declines. Other real estate companies such as Alexandria Real Estate Equities, Inc. (NYSE:ARE), Prologis Inc. (NYSE:PLD), CBRE Group Inc. (NYSE:CBRE), and Boston Properties, Inc. (NYSE:BXP) also saw declines.

Portfolio Pulse from Piero Cingari

October 12, 2023 | 9:13 pm

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