News stories about Paramount Group (NASDAQ:PGRE) have been trending somewhat positive recently, according to Accern Sentiment. The research group scores the sentiment of press coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Paramount Group earned a coverage optimism score of 0.25 on Accern’s scale. Accern also assigned news coverage about the company an impact score of 48.4706241891676 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Several analysts recently commented on PGRE shares. Zacks Investment Research raised shares of Paramount Group from a “sell” rating to a “hold” rating in a research report on Wednesday, April 19th. Mizuho downgraded shares of Paramount Group from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $17.00 to $15.00 in a research report on Monday, July 10th. Evercore ISI raised shares of Paramount Group from an “in-line” rating to an “outperform” rating in a research report on Monday, April 17th. TheStreet raised shares of Paramount Group from a “d+” rating to a “c” rating in a research report on Thursday, May 11th. Finally, Morgan Stanley downgraded shares of Paramount Group from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $17.50 to $15.00 in a research report on Tuesday, June 13th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $16.25.
Paramount Group (PGRE) opened at 15.63 on Friday. The company has a market cap of $3.73 billion and a PE ratio of 37.04. The firm’s 50-day moving average is $15.97 and its 200 day moving average is $16.33. Paramount Group has a 1-year low of $14.58 and a 1-year high of $18.28.
Paramount Group (NASDAQ:PGRE) last issued its earnings results on Thursday, August 3rd. The company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.02. The firm had revenue of $177.70 million for the quarter, compared to analyst estimates of $170.11 million. Paramount Group had a return on equity of 0.04% and a net margin of 0.90%. Paramount Group’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.23 earnings per share. Analysts predict that Paramount Group will post $0.04 earnings per share for the current fiscal year.
Paramount Group declared that its Board of Directors has authorized a stock buyback program on Thursday, August 3rd that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to repurchase up to 5.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were paid a dividend of $0.095 per share. This represents a $0.38 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Wednesday, June 28th.
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About Paramount Group
Paramount Group, Inc is a fully-integrated real estate investment trust (REIT) focused on owning, operating, managing, acquiring and redeveloping Class A office properties in select central business district submarkets of New York City, Washington, District of Columbia (DC) and San Francisco. The Company conducts its business through, and substantially all its interests in properties and investments are held by, Paramount Group Operating Partnership LP (the Operating Partnership).
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