Paramount Group Inc (NYSE:PGRE) declared a quarterly dividend on Friday, December 15th, NASDAQ reports. Shareholders of record on Friday, December 29th will be given a dividend of 0.095 per share by the financial services provider on Friday, January 12th. This represents a $0.38 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend is Thursday, December 28th.

Paramount Group has a dividend payout ratio of 42.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Paramount Group to earn $0.94 per share next year, which means the company should continue to be able to cover its $0.38 annual dividend with an expected future payout ratio of 40.4%.

Paramount Group (NYSE:PGRE) remained flat at $$15.58 during mid-day trading on Friday. The company’s stock had a trading volume of 647,888 shares, compared to its average volume of 1,280,000. The stock has a market cap of $3,720.00, a P/E ratio of 42.11, a PEG ratio of 3.48 and a beta of 0.80. Paramount Group has a 1 year low of $15.14 and a 1 year high of $17.58.

Paramount Group (NYSE:PGRE) last issued its quarterly earnings results on Monday, November 6th. The financial services provider reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.01. Paramount Group had a return on equity of 1.76% and a net margin of 12.29%. The company had revenue of $179.80 million for the quarter, compared to analysts’ expectations of $172.85 million. During the same quarter last year, the business earned $0.20 earnings per share. Paramount Group’s revenue was up 5.0% on a year-over-year basis. analysts anticipate that Paramount Group will post 0.9 EPS for the current year.

A number of brokerages recently commented on PGRE. Zacks Investment Research cut Paramount Group from a “buy” rating to a “hold” rating in a research report on Tuesday, November 28th. TheStreet cut Paramount Group from a “c” rating to a “d+” rating in a research report on Thursday, November 16th. Four equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. Paramount Group currently has a consensus rating of “Hold” and an average target price of $16.40.

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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).

Dividend History for Paramount Group (NYSE:PGRE)

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