|Bid||13.52 x 1100|
|Ask||13.61 x 3200|
|Day's Range||13.41 - 13.63|
|52 Week Range||12.18 - 15.11|
|Beta (5Y Monthly)||0.78|
|PE Ratio (TTM)||171.65|
|Earnings Date||Feb 11, 2020 - Feb 17, 2020|
|Forward Dividend & Yield||0.40 (2.91%)|
|1y Target Est||16.14|
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Paramount Group, Inc. (NYSE: PGRE) ("Paramount") announced today that its board of directors has declared a regular quarterly cash dividend of $0.10 per share of common stock for the period from October 1, 2019 to December 31, 2019. The dividend will be payable on January 15, 2020 to stockholders of record as of the close of business on December 31, 2019.
Paramount Group, Inc. (NYSE: PGRE) ("Paramount" or the "Company") today announced that it has completed the previously announced acquisition of Market Center, a two-building Class A office complex consisting of 555 Market Street and 575 Market Street in San Francisco, through a joint venture in which Paramount owns a 67.0% interest. The transaction valued the property at approximately $722.0 million, or $959 per square foot. In connection with the acquisition, the joint venture completed a $402.0 million financing of the property for an initial term of five years, with two one-year extension options. The loan is interest only at LIBOR plus 150 basis points and was swapped for an all-in fixed rate of 3.07% over the initial term.
The proceeds from the refinancing were used to repay the existing $1.05 billion loan that bore interest at a weighted average rate of 3.55% and was scheduled to mature in December 2022. The Company realized net proceeds of approximately $179 million after the repayment of the existing loan, swap breakage costs and closing costs. “With the office portion of 1633 Broadway now 100% leased, we took advantage of attractive credit markets to capitalize on our recent leasing success, improve the Company’s debt maturity profile and increase our financial flexibility,” said Wilbur Paes, Executive Vice President, Chief Financial Officer and Treasurer of Paramount.
Paramount's purchase of the 753,000-square-foot complex is one of the biggest single sales in San Francisco history.
The homes will have to hit the market at upwards of $2,500 per square foot for the developers to make money.
SAN FRANCISCO, Nov. 7, 2019 /PRNewswire/ -- Paramount Group, Inc. (PGRE), and SRE Group Ltd unveiled today the first glimpse of what promises to be San Francisco's most elegant waterfront community, One Steuart Lane, revealing exclusive residences and private outdoor living spaces that will usher in the final opportunity for homeownership along San Francisco's prized Embarcadero. The new images offer a sensational visual walkthrough of the striking interiors by iconic brands Molteni Group and Liaigre and an immaculately-appointed amenity collection designed by the world-renowned architecture firm Skidmore, Owings & Merrill (SOM), alongside amenity-space interiors by Rottet Studio.
Paramount Group (PGRE) delivered FFO and revenue surprises of 4.17% and 1.27%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
Though CBRE Group (CBRE) Q3 results will likely reflect benefits from improving occupier outsourcing business and strategic acquisitions, softer investment volumes are a concern.
Americold's (COLD) Q3 performance likely to reflect steady demand for its properties, driven by consumption growth, favorable industry trends and productivity-improvement benefits.
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Jones Lang LaSalle's (JLL) Q3 results to reflect strength across its global regions and rising trend of outsourcing of real estate needs, though softer investment volumes remain a concern.
Arbor Realty Trust's (ABR) Q3 performance likely to reflect the stable earnings power of agency business and growth in its loan business amid competitive lending market.
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Paramount Group, Inc. (PGRE) (“Paramount” or the “Company”) announced today that it will file its quarterly report on Form 10-Q for the quarter ended September 30, 2019 with the U.S. Securities and Exchange Commission and release its third quarter 2019 financial results on Wednesday, November 6, 2019 after the end of trading on the New York Stock Exchange. The Company will host a conference call and audio webcast on Thursday, November 7, 2019 at 10:00 a.m. Eastern Time (ET), during which management will discuss the third quarter results and provide commentary on business performance. A live audio webcast of the conference call will be available through the “Investors” section of the Company’s website, www.paramount-group.com.
Readers hoping to buy Paramount Group, Inc. (NYSE:PGRE) for its dividend will need to make their move shortly, as the...
In 2014 Albert Behler was appointed CEO of Paramount Group, Inc. (NYSE:PGRE). First, this article will compare CEO...