Paramount Group (NYSE:PGRE) Azioni

Paramount Group

Paramount Group Inc is a real estate investment trust engaged in owning, operating, managing, acquiring, and redeveloping high-quality, Class A office properties in select central business district (CBD) submarkets of New York City and San Francisco. The company operates in two geographical segments New York and San Francisco. The company derives nearly all of its majority of revenue from rental income.

Paramount Group Inc

Paramount Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGRE#NYSE">PGRE</a>) ("Paramount" or the "Company") announced today that it has sold a 25% interest in One Front Street, a 649,000 square foot Class A office building located on the corner of Front and Market Streets in San Francisco, at a gross asset valuation of $255 million. Paramount will continue to own the remaining 75% interest and manage and lease the property. As part of the transaction, Paramount has provided $40.5 million of seller financing for a two-year term at a fixed rate of 5.50%. The Company retained net proceeds of $11.5 million from the sale, after transaction and other costs.

News

PGRE

Paramount Group Sells 25% Interest In One Front Street At Gross Asset Valuation Of $255M

Paramount Has Signed A 121,000 Square Foot, 16.5 Year Lease With Benesch, Friedlander, Coplan & Aronoff At 1301 Avenue Of The Americas In Midtown Manhattan

Paramount Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGRE#NYSE">PGRE</a>) affirms FY2025 FFO guidance from $0.51-$0.57 to $0.51-$0.57 vs $0.52 analyst estimate..

Guidance

Paramount Group Affirms FY2025 FFO Guidance of $0.51-$0.57 vs $0.52 Est

Paramount Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGRE#NYSE">PGRE</a>) reported quarterly earnings of $0.17 per share which beat the analyst consensus estimate of $0.16 by 6.25 percent. This is a 22.73 percent decrease over earnings of $0.22 per share from the same period last year. The company reported quarterly sales of $187.02 million which beat the analyst consensus estimate of $180.70 million by 3.50 percent. This is a 0.98 percent decrease over sales of $188.88 million the same period last year.

Earnings

Earnings Beats

Paramount Group Q1 FFO $0.17 Beats $0.16 Estimate, Sales $187.02M Beat $180.70M Estimate

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Earnings Scheduled For April 30, 2025

Morgan Stanley analyst Ronald Kamdem maintains Paramount Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGRE#NYSE">PGRE</a>) with a Equal-Weight and lowers the price target from $4.25 to $4.

Price Target

Analyst Ratings

Morgan Stanley Maintains Equal-Weight on Paramount Group, Lowers Price Target to $4

Paramount Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGRE#NYSE">PGRE</a>) is looking for FY2025 FFO of $0.51-$0.57 vs $0.48 analyst estimate..

Paramount Group Sees FY2025 Core FFO Per diluted share $0.51-$0.57 vs $0.48 Est

Paramount Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGRE#NYSE">PGRE</a>) reported quarterly earnings of $0.19 per share which beat the analyst consensus estimate of $0.18 by 5.56 percent. This is a 13.64 percent decrease over earnings of $0.22 per share from the same period last year. The company reported quarterly sales of $186.27 million which missed the analyst consensus estimate of $186.91 million by 0.34 percent. This is a 3.22 percent decrease over sales of $192.47 million the same period last year.

Earnings Misses

Paramount Group Q4 Core FFO Per diluted share $0.19 Beats $0.18 Estimate, Sales $186.27M Miss $186.91M Estimate

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Earnings Scheduled For February 27, 2025

Mizuho analyst Vikram Malhotra maintains Paramount Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGRE#NYSE">PGRE</a>) with a Outperform and lowers the price target from $6 to $5.

Mizuho Maintains Outperform on Paramount Group, Lowers Price Target to $5

Real Estate

Paramount Group Sells 45% Interest In 900 Third Avenue Office Building At Gross Asset Valuation Of $210M

Evercore ISI Group analyst Steve Sakwa maintains Paramount Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGRE#NYSE">PGRE</a>) with a In-Line and raises the price target from $5 to $6.

Evercore ISI Group Maintains In-Line on Paramount Group, Raises Price Target to $6

Paramount Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGRE#NYSE">PGRE</a>) raises FY2024 FFO guidance from $0.76-0.80 to $0.78-0.80 vs $0.78 analyst estimate..

Paramount Group Raises FY2024 FFO Guidance from $0.76-0.80 to $0.78-0.80 vs $0.78 Est

Paramount Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGRE#NYSE">PGRE</a>) reported quarterly earnings of $0.19 per share which beat the analyst consensus estimate of $0.18 by 5.56 percent. The company reported quarterly sales of $194.899 million which beat the analyst consensus estimate of $176.890 million by 10.18 percent. This is a 3.02 percent increase over sales of $189.181 million the same period last year.

Paramount Group Q3 2024 FFO $0.19 Beats $0.18 Estimate, Sales $194.899M Beat $176.890M Estimate

Dividends

Paramount Group Suspends Regular Quarterly Dividend

Wells Fargo analyst Blaine Heck maintains Paramount Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGRE#NYSE">PGRE</a>) with a Underweight and raises the price target from $3.5 to $4.

Wells Fargo Maintains Underweight on Paramount Group, Raises Price Target to $4

Cousin Properties (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cuz#NYSE">CUZ</a>) recently announced that it has entered into a lease arrangement with a Fortune 100 technology company for around 320,000 square feet of all of its Domain 12 property in Austin, TX.
The said customer is new to Cousins&#39; portfolio and will take up the ongoing lease from Meta Platforms, effective from Jan. 1, 2026, extending its maturity from 2031 to 2040.
Cousins&#39; Domain portfolio, spanning around 2.5 million square feet, is at present more than 99% leased, reflecting the solid demand for space. Delivered in 2020, Domain 12 exists near The Domain&#39;s main dining and entertainment district.
This Cousins lifestyle office property&#39;s offerings of amenities such as cafes, outdoor terraces, a fitness center and bike storage, with direct access to several hiking and bike trails, lead to a wholesome experience for its clients.
As per Colin Connolly, the president and chief executive officer of Cousins Properties, &quot;We are excited that our teams found a creative solution to welcome another global technology innovator to a trophy property in The Domain.&quot; He also asserted, &quot;The Domain provides a highly amenitized experience that leading companies recognize as a critical tool to drive employee recruitment, retention, and culture.&quot;
<h2>Cousins Properties Sees a Recovery in Demand</h2>
Cousins Properties is seeing a recovery in demand for its high-quality, well-placed office properties, as highlighted by a rebound in new leasing volume. For the six months ended June 2024, the company executed 77 leases for a total of 794,240 square feet of office space with a weighted average lease term of 7.8 years. This included 404,011 square feet of new leases, 268,210 square feet of renewal leases and 122,019 square feet of expansion leases.
<img alt="Cousins Properties" src="https://staticx-tuner.zacks.com/images/articles/charts/84/76941.jpg?v=1977785616" />
Image Source: Cousins Properties
Going forward, Cousins Properties&#39; high-quality office portfolio, impressive tenant roster, opportunistic investments and developments in best sub-markets and strong balance sheet are expected to drive its growth. However, a continuation of the hybrid work environment and high supply in the office real estate market is expected to adversely impact its pricing power.
Over the past three months, shares of this Zacks Rank #2 (Buy) company have risen 24.3% compared with the industry&#39;s upside of 16.7%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/70/76937.jpg?v=553016743" />
Image Source: Zacks Investment Research
<h2>Other Stocks to Consider</h2>
Some other top-ranked stocks from the broader REIT sector are Paramount Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pgre#NYSE">PGRE</a>) and Lamar Advertising (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lamr#NASDAQ">LAMR</a>), each carrying a Zacks Rank #2 at present.
The Zacks Consensus Estimate for Paramount Group&#39;s 2024 FFO per share has been raised marginally northward over the past three months to 78 cents.
The Zacks consensus estimate for Lamar Advertising&#39;s current-year FFO per share has been revised marginally upward over the past month to $8.09.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
<a href="https://www.zacks.com/stock/news/2333425/cousins-properties-leases-full-building-at-the-domain-in-austin?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2333425">To read this article on Zacks.com click here.</a>

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Cousins Properties Leases Full Building at The Domain in Austin

It apparently doesn&#8217;t take much of a price hike for viewers to <a href="https://www.benzinga.com/general/entertainment/24/02/36882188/hulu-joins-streaming-giants-netflix-disney-and-youtube-in-password-sharing-crackdown">cancel streaming subscriptions</a>, according to a poll taken by Benzinga.
According to the survey, 54% of the 90 respondents said they would cancel a service if its price increased by 5% to 10%.
About a quarter, or 24%, would say goodbye to the subscription if the cost is raised 10% to 20%, while 13% would cut it after an increase of more than 20%.
The remaining 8% of the respondents will never cancel a service, no matter how high the cost, the poll revealed.
That&#8217;s good news for Netflix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) , because another Benzinga survey showed that 45% of 60 respondents would be least likely to cancel it if its price went up, but it isn&#8217;t great tidings for HBO Max, which is owned by Warner Bros. Discovery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>). The poll indicated that only 3% of those surveyed would be least inclined to stop that service if its price increased.
Read Now: <a href="https://www.benzinga.com/news/24/01/36636407/its-not-youtube-its-ad-blockers-why-are-your-videos-buffering-too-slow">It&#8217;s Not YouTube, It&#8217;s Ad-Blockers: Why Are Your Videos Buffering Too Slow?</a>
The analysis uncovered that 23% of subscribers have put other streaming services at the bottom of their list of subscriptions to get the axe in response to a price jump. They included Fox Corporation&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FOX#NYSE">FOX</a>) Tubi, Alphabet Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) YouTube, Spotify Technology S.A.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) Spotify, Charter Communication Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHRT#NASDAQ">CHRT</a>) Spectrum and Paramount Group Inc.&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGRE#NYSE">PGRE</a>) Paramount+.
The poll also found that 12% of respondents were least likely to cancel Disney+ in response to a price hike, while 7% were most reluctant to drop Hulu. Both services are owned by The Walt Disney Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>).
Disney+ Premium is increasing the monthly price for its streaming service from $13.99 to $15.99. A third Benzinga survey of 59 people polled showed that 46% said they do not have a subscription to this service, while 37% of the respondents said they planned to cancel the service due to the price hike, while 17% said they will keep it.
The polls were conducted by Benzinga on Aug. 8 and Aug. 9 and included the responses of a diverse population of adults 18 or older. Opting into the surveys was completely voluntary, with no incentives offered to potential respondents.
Read Now:
<ul>
<li><a href="https://www.benzinga.com/general/entertainment/24/01/36505754/t-mobiles-long-standing-free-netflix-bundle-could-soon-start-including-ads">T-Mobile&#8217;s Long-Standing Free Netflix Bundle Could Soon Start Including Ads</a></li>
</ul>
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Most Subscribers Will Drop Streaming Service Over 5% Price Increase, Poll Reveals

Paramount Group Narrows Estimated FY24 Core FFO Guidance From $0.75 - $0.81 To $0.76 - $0.80; Est $0.77

Paramount Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGRE#NYSE">PGRE</a>) reported quarterly earnings of $0.20 per share which met the analyst consensus estimate. The company reported quarterly sales of $187.408 million which beat the analyst consensus estimate of $183.645 million by 2.05 percent. This is a 8.54 percent increase over sales of $172.662 million the same period last year.

Paramount Group Q2 2024 FFO $0.20, Inline, Sales $187.408M Beat $183.645M Estimate

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