Paramount Group, Inc. (PGRE) To Go Ex-Dividend on June 28th

Paramount Group, Inc. (NYSE:PGRE) declared a quarterly dividend on Friday, June 14th, Zacks reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.035 per share by the financial services provider on Monday, July 15th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Friday, June 28th.

Paramount Group has decreased its dividend by an average of 20.5% annually over the last three years. Paramount Group has a dividend payout ratio of -58.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Stock Performance

Shares of PGRE traded down $0.07 during mid-day trading on Wednesday, reaching $4.53. 103,363 shares of the stock traded hands, compared to its average volume of 1,241,982. The firm has a fifty day moving average price of $4.64 and a 200 day moving average price of $4.75. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 0.90. Paramount Group has a 1 year low of $4.06 and a 1 year high of $5.92.

Analyst Upgrades and Downgrades

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

About Paramount Group

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.