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Paramount Group (PGRE)
:PGRE
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Earnings Data
Report Date
Feb 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.04Last Year’s EPS
-0.95Same Quarter Last Year
Moderate Sell
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 05, 2018
|% Change Since: -9.70%
|Next Earnings Date:Aug 01, 2018
Earnings Call Sentiment|Neutral
The earnings call presented several positive aspects such as surpassing core FFO expectations, strong leasing activity, and a healthy cash position. However, these were balanced by challenges like declining occupancy rates, difficulties in the San Francisco leasing market, and negative financial metrics on some leased spaces. The suspension of the quarterly dividend also highlights a cautious financial approach.Company Guidance
In the PGRE Q3 2024 earnings call, the company reported a core funds from operations (FFO) of $0.19 per share, exceeding consensus by $0.01. Year-to-date leasing activity reached 655,000 square feet, with 179,000 square feet leased in Q3 alone. The company revised its core FFO guidance to a range of $0.78 to $0.80 per share for the year, and increased its leasing guidance to between 825,000 and 925,000 square feet. The same-store leased occupancy rate was 84.7%, with decreases in both New York and San Francisco due to known move-outs. Paramount's financial position remains strong, with $412 million in cash and restricted cash, and no debt maturities until 2026. The company is optimistic about future leasing activity, particularly in New York, and remains cautious yet opportunistic in capital allocation, with plans to leverage partnerships for strategic acquisitions.Core FFO Exceeds Expectations
Reported core FFO of $0.19 per share, which was $0.01 above consensus.
Strong Leasing Activity
Leased 179,000 square feet in Q3, bringing the year-to-date total to 655,000 square feet leased, with a robust pipeline projected for Q4.
Positive Market Dynamics in New York
Leased 72,000 square feet in New York, with strong demand from financial services and law firms, and high-quality amenity offerings like the Paramount Club receiving exceptional reviews.
Cash Position and Financial Flexibility
Maintained a robust cash position with approximately $412 million in cash and restricted cash, and over $1.1 billion in liquidity.
Raising Core FFO Guidance
Updated core FFO guidance to a new range of $0.78 to $0.80 per share, indicating confidence in financial performance.
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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 |
|---|---|---|---|
| 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% |
| Feb 14, 2024 | $4.43 | $4.76 | +7.45% |
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 Feb 12, 2025, TBA Not Confirmed.
What is Paramount Group (PGRE) earnings time?
Paramount Group (PGRE) earnings time is at Feb 12, 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 2024 (Q4) is -0.04.
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