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.
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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