NYSE$PGRE
Paramount Group Inc · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Paramount Group's results for Q2 2021 were announced, with raised guidance for full year 2021 and backfilling over 62% of recent vacancy at 31 West 52nd Street.
Paramount Group reported a net loss attributable to common stockholders of $15.9 million, or $0.07 per diluted share. Core FFO attributable to common stockholders was $47.6 million, or $0.22 per diluted share. The company raised its Estimated 2021 Core FFO Guidance to be between $0.86 to $0.90 per diluted share.
- Net loss attributable to common stockholders was $15.9 million, or $0.07 per diluted share.
- Core FFO attributable to common stockholders was $47.6 million, or $0.22 per diluted share.
- Same Store Cash Net Operating Income increased by 3.0%.
- The company leased 246,922 square feet.
Headline financials
Revenue & EPS history
Paramount · Revenue · Quarterly
$182M
Revenue by segment
Paramount · $184M total across 2 segments · Q4 2021
- Rental Revenue$172M—93.3%
- Fee and Other Income$12.4M—6.7%
Forward guidance
The Company is raising its Estimated Core FFO Guidance for the full year of 2021 to be between $0.86 to $0.90 per diluted share.
Tailwinds
- Better than expected portfolio operations, aggregating $0.02 per diluted share.
- $0.01 per diluted share from higher straight line rental income.
- Estimated net loss attributable to common stockholders will be between $0.12 to $0.08 per diluted share.
- Prior estimate of net loss attributable to common stockholders of $0.16 to $0.10 per diluted share, up $0.03 per diluted share from the midpoint of the Company’s prior estimate
- resulting from better than expected portfolio operations.
Headwinds
- These estimates reflect management’s view of current and future market conditions, including assumptions with respect to rental rates, occupancy levels and the earnings impact of the events referenced in this release
- These estimates do not include the impact on operating results from possible future property acquisitions or dispositions, capital markets activity or realized and unrealized gains or losses on real estate fund investments.
- The estimates set forth above may be subject to fluctuations as a result of several factors, including the negative impact of the COVID-19 global pandemic, straight-line rent adjustments and the amortization of above and below-market leases.
- There can be no assurance that the Company’s actual results will not differ materially from the estimates set forth above.
- Forward-looking statements involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company’s control and could materially affect actual results, performance or achievements.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 16 quarterly earnings reports
+0.2%
Avg return
Earnings day
+1.5%
Avg return
5 days after
+2.1%
Avg return
30 days after
52%
23 / 44 earnings
Positive
+8.9%
Q3 2023
Best reaction
-6.9%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2025 | — | — | — | |
| Q3 2025 | +0.2% | +0.5% | +0.9% | |
| Q2 2025 | +1.8% | +6.8% | +19.8% | |
| Q1 2025 | +7.2% | +7.9% | +41.4% | |
| Q4 2024 | -2.0% | -5.4% | -7.4% | |
| Q3 2024 | -2.6% | -0.6% | -1.8% | |
| Q2 2024 | -2.1% | -12.0% | -2.5% | |
| Q1 2024 | +3.4% | +4.3% | -2.1% | |
| Q4 2023 | +7.1% | +7.3% | +2.0% | |
| Q3 2023 | +8.9% | +10.1% | +9.8% | |
| Q2 2023 | -6.9% | -6.9% | -0.8% | |
| Q1 2023 | +6.4% | +5.7% | +6.6% | |
| Q4 2022 | -3.1% | -4.8% | -28.9% | |
| Q3 2022 | -4.5% | -3.9% | -5.6% | |
| Q2 2022 | +1.1% | +4.7% | -3.9% | |
| Q1 2022 | -1.8% | -6.0% | -9.2% | |
| Q4 2021 | -3.7% | +16.7% | +15.1% | |
| Q3 2021 | -4.0% | — | — | |
| Q2 2021 | -0.9% | — | — | |
| Q1 2021 | +1.0% | — | — | |
| Q4 2020 | +0.2% | — | — | |
| Q3 2020 | -3.4% | — | — | |
| Q2 2020 | -1.4% | — | — | |
| Q1 2020 | +7.5% | — | — | |
| Q4 2019 | +1.9% | — | — | |
| Q3 2019 | +2.9% | — | — | |
| Q2 2019 | -2.2% | — | — | |
| Q1 2019 | +0.0% | — | — | |
| Q4 2018 | -2.1% | — | — | |
| Q3 2018 | +0.8% | — | — | |
| Q2 2018 | -1.4% | — | — | |
| Q1 2018 | +1.3% | — | — | |
| Q4 2017 | +0.4% | — | — | |
| Q3 2017 | +0.5% | — | — | |
| Q2 2017 | +1.0% | — | — | |
| Q1 2017 | +1.0% | — | — | |
| Q4 2016 | -1.4% | — | — | |
| Q3 2016 | -3.1% | — | — | |
| Q2 2016 | +1.2% | — | — | |
| Q1 2016 | -0.5% | — | — | |
| Q4 2015 | -1.0% | — | — | |
| Q3 2015 | +0.9% | — | — | |
| Q2 2015 | -1.0% | — | — | |
| Q1 2015 | +1.0% | — | — | |
| Q4 2014 | +1.0% | — | — | |
| Q3 2014 | — | — | — | |
| Q2 2014 | — | — | — | |
| Q1 2014 | — | — | — | |
| Q4 2013 | — | — | — | |
| Q3 2013 | — | — | — | |
| Q2 2013 | — | — | — | |
| Q1 2013 | — | — | — |
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