Paramount Group (PGRE) Declares $0.08 Dividend

Paramount Group said on March 15, 2023 that its board of directors declared a regular quarterly dividend of $0.08 per share ($0.31 annualized). Previously, the company paid $0.08 per share.

Shares must be purchased before the ex-div date of March 30, 2023 to qualify for the dividend. Shareholders of record as of March 31, 2023 will receive the payment on April 14, 2023.

At the current share price of $4.54 / share, the stock's dividend yield is 6.83%. Looking back five years and taking a sample every week, the average dividend yield has been 3.52%, the lowest has been 2.43%, and the highest has been 6.57%. The standard deviation of yields is 1.03 (n=237).

The current dividend yield is 3.19 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is -1.85. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is -0.23%.

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Analyst Price Forecast Suggests 42.29% Upside

As of March 17, 2023, the average one-year price target for Paramount Group is $6.46. The forecasts range from a low of $5.05 to a high of $8.40. The average price target represents an increase of 42.29% from its latest reported closing price of $4.54.

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The projected annual revenue for Paramount Group is $781MM, an increase of 13.92%. The projected annual non-GAAP EPS is -$0.03.

What is the Fund Sentiment?

There are 361 funds or institutions reporting positions in Paramount Group. This is a decrease of 28 owner(s) or 7.20% in the last quarter. Average portfolio weight of all funds dedicated to PGRE is 0.10%, a decrease of 24.08%. Total shares owned by institutions decreased in the last three months by 2.46% to 152,803K shares. The put/call ratio of PGRE is 0.18, indicating a bullish outlook.

What are Large Shareholders Doing?

Norges Bank holds 18,378K shares representing 8.47% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 7,943K shares representing 3.66% ownership of the company. In it's prior filing, the firm reported owning 8,034K shares, representing a decrease of 1.15%. The firm decreased its portfolio allocation in PGRE by 1.88% over the last quarter.

Monarch Alternative Capital holds 7,445K shares representing 3.43% ownership of the company. In it's prior filing, the firm reported owning 12,200K shares, representing a decrease of 63.87%. The firm decreased its portfolio allocation in PGRE by 38.77% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,915K shares representing 2.73% ownership of the company. In it's prior filing, the firm reported owning 5,687K shares, representing an increase of 3.86%. The firm decreased its portfolio allocation in PGRE by 8.42% over the last quarter.

Balyasny Asset Management holds 5,133K shares representing 2.37% ownership of the company. In it's prior filing, the firm reported owning 820K shares, representing an increase of 84.03%. The firm increased its portfolio allocation in PGRE by 309.76% over the last quarter.

Paramount Group Background Information
(This description is provided by the company.)

Headquartered in New York City, Paramount Group, Inc. 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 City and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.

This story originally appeared on Fintel.