Paramount Group, Inc. (PGRE) to Issue Quarterly Dividend of $0.04 on July 15th

Paramount Group, Inc. (NYSE:PGRE) announced a quarterly dividend on Friday, June 14th, Zacks reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.035 per share by the financial services provider on Monday, July 15th. This represents a $0.14 annualized dividend and a yield of 3.02%. The ex-dividend date is Friday, June 28th.

Paramount Group has decreased its dividend by an average of 20.5% per year over the last three years. Paramount Group has a dividend payout ratio of -30.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Paramount Group to earn $0.63 per share next year, which means the company should continue to be able to cover its $0.14 annual dividend with an expected future payout ratio of 22.2%.

Paramount Group Trading Down 0.2 %

Shares of Paramount Group stock opened at $4.64 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.03 and a current ratio of 4.03. The business has a 50 day moving average of $4.65 and a 200 day moving average of $4.78. Paramount Group has a 52 week low of $4.06 and a 52 week high of $5.92.

Analysts Set New Price Targets

A number of equities analysts recently commented on PGRE shares. Morgan Stanley decreased their target price on Paramount Group from $4.70 to $4.50 and set an “equal weight” rating for the company in a report on Thursday, March 28th. StockNews.com upgraded Paramount Group from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Finally, Evercore ISI upgraded Paramount Group from an “underperform” rating to an “in-line” rating and set a $5.00 target price for the company in a report on Monday, March 18th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $4.60.

Paramount Group Company Profile

Paramount Group, Inc ("Paramount" or the "Company") is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York and San Francisco.