Paramount Group Inc (NYSE:PGRE) Declares $0.10 Quarterly Dividend

Paramount Group Inc (NYSE:PGRE) declared a quarterly dividend on Monday, June 15th, Zacks reports. Investors of record on Tuesday, June 30th will be paid a dividend of 0.10 per share by the financial services provider on Wednesday, July 15th. This represents a $0.40 annualized dividend and a dividend yield of 5.25%. The ex-dividend date is Monday, June 29th.

Paramount Group has a dividend payout ratio of 400.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Paramount Group to earn $0.93 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 43.0%.

Shares of NYSE PGRE opened at $7.62 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.84. Paramount Group has a 52 week low of $6.42 and a 52 week high of $15.00. The firm’s fifty day moving average is $8.10 and its 200 day moving average is $10.94. The company has a market cap of $1.72 billion, a price-to-earnings ratio of -44.82, a PEG ratio of 6.61 and a beta of 1.03.

Paramount Group (NYSE:PGRE) last issued its earnings results on Wednesday, April 29th. The financial services provider reported $0.01 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.24). Paramount Group had a negative return on equity of 0.77% and a negative net margin of 4.54%. The firm had revenue of $184.00 million during the quarter, compared to analysts’ expectations of $190.53 million. During the same period in the previous year, the firm earned $0.24 earnings per share. The firm’s quarterly revenue was down .2% compared to the same quarter last year. Equities research analysts anticipate that Paramount Group will post 0.96 earnings per share for the current year.

Several research analysts recently commented on PGRE shares. Mizuho decreased their target price on shares of Paramount Group from $15.00 to $9.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 28th. ValuEngine downgraded shares of Paramount Group from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. Goldman Sachs Group raised shares of Paramount Group from a “sell” rating to a “neutral” rating in a research report on Thursday, April 2nd. Zacks Investment Research downgraded shares of Paramount Group from a “buy” rating to a “hold” rating in a research report on Tuesday, June 9th. Finally, Morgan Stanley reduced their target price on shares of Paramount Group from $9.50 to $9.00 and set an “overweight” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $12.17.

About Paramount Group

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, Washington, DC and San Francisco.

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Dividend History for Paramount Group (NYSE:PGRE)

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