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Paramount Group (PGRE)
NYSE:PGRE
Earnings Data
Report Date
Apr 30, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-0.02Last Year’s EPS
-0.02Same Quarter Last Year
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 27, 2025
|% Change Since: -8.70%
|Next Earnings Date:Apr 30, 2025
Earnings Call Sentiment|Neutral
The call presented a mixed outlook with strong achievements in leasing activity and sustainability recognition, but significant challenges such as impairment losses and market difficulties in San Francisco temper the overall sentiment. Despite these challenges, the company is optimistic about future opportunities and market improvements.Company Guidance
In the Paramount Group's fourth quarter 2024 earnings call, the management provided guidance for 2025, projecting a core FFO per share range between $0.51 and $0.57. They also set a 2025 leasing target of between 800,000 and 1 million square feet. The company reported having ended 2024 with a core FFO of $0.80 per share and a total of 763,500 square feet leased, slightly missing revised targets due to a significant lease falling through. The cash and restricted cash position was strengthened to $546.5 million after the partial sale of 900 Third Avenue. Management noted a robust pipeline with approximately 350,000 square feet of leases in negotiation and highlighted improving market dynamics in New York and San Francisco, emphasizing a focus on high-quality, strategically located spaces. The guidance reflects anticipated challenges from significant lease expirations, including those of JPMorgan and Google, with expected negative same-store growth and same-store occupancy to remain roughly flat in 2025.Core FFO Performance
Reported core FFO of $0.19 per share for the fourth quarter, bringing the total for the year to $0.80 per share, which was at the high end of guidance.
Leasing Activity
Leased approximately 763,500 square feet in 2024, a 3% increase from the previous year. Notably, leasing activity in San Francisco increased over 40% compared to the prior year.
GRESB Five-Star Rating
Achieved a GRESB five-star rating for the sixth consecutive year, earning sector leader status in the Office Americas category, outperforming the GRESB average by 21%.
Capital Allocation Success
Closed the sale of a 45% interest in 900 Third Avenue, raising approximately $95 million in net proceeds, underscoring the underappreciated value of assets.
Improving Market Dynamics in New York
Midtown’s fourth-quarter leasing activity was the highest quarterly total since Q4 2019, exceeding the five-year quarterly average by 73%.
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PGRE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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PGRE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 27, 2025 | $4.60 | $4.51 | -1.96% |
| Oct 30, 2024 | $5.05 | $4.85 | -3.96% |
| Jul 31, 2024 | $5.24 | $5.06 | -3.44% |
| May 01, 2024 | $4.58 | $4.76 | +3.93% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Paramount Group (PGRE) report earnings?
Paramount Group (PGRE) is schdueled to report earning on Apr 30, 2025, TBA Not Confirmed.
What is Paramount Group (PGRE) earnings time?
Paramount Group (PGRE) earnings time is at Apr 30, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PGRE EPS forecast?
PGRE EPS forecast for the fiscal quarter 2025 (Q1) is -0.02.
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