Paramount Group Inc (PGRE) Releases Earnings Results, Beats Expectations By $0.02 EPS

Paramount Group Inc (PGRE) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $0.23 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.21. The company posted revenue of $172.92 million in the period, compared to analysts expectations of $170.51 million. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS.

Many Wall Street Analysts have commented on Paramount Group Inc. Paramount Group Inc was Downgraded by BofA/Merrill to ” Neutral” on Mar 29, 2016. Paramount Group Inc was Upgraded by CapitalOne to ” Overweight” on Mar 2, 2016. Shares were Reiterated by Mizuho on Feb 25, 2016 to “Neutral” and Lowered the Price Target to $ 16 from a previous price target of $18 .

Paramount Group Inc opened for trading at $16.92 and hit $17.18 on the upside on Wednesday, eventually ending the session at $17.12, with a gain of 0.47% or 0.08 points. The heightened volatility saw the trading volume jump to 9,97,670 shares. Company has a market cap of $3,631 M.

In a different news, on Mar 14, 2016, David P Oconnor (director) purchased 32,000 shares at $15.23 per share price.

Paramount Group Inc. (Paramount) is a real estate investment trust (REIT) focused on owning operating and managing Class A office properties in central business district submarkets of New York City Washington D.C. and San Francisco. Paramount conducts its business primarily through Paramount Group Operating Partnership LP. As of December 31 2014 Paramount’s portfolio consisted of 12 Class A office properties aggregating approximately 10.4 million square feet that was 93.9% leased. Paramount has an investment management business where it serves as the general partner and property manager of certain private equity real estate funds for institutional investors and high-net-worth individuals. Paramount’s private equity real estate funds (the Property Funds) invest in office buildings and related facilities primarily in New York City Washington D.C. and San Francisco. The Alternative Investment Funds invest in real estate related debt and preferred equity investments.

Paramount Group Inc

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