NYSE$PGRE
Paramount Group Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Paramount's performance reflected a net loss, but same-store NOI increased and full-year earnings guidance was raised.
Paramount Group reported a net loss attributable to common stockholders of $9.7 million, or $0.04 per diluted share. Core FFO attributable to common stockholders was $40.5 million, or $0.19 per diluted share. The company raised its full-year 2024 earnings guidance and reported a 1.8% increase in Same Store Net Operating Income.
- Net loss attributable to common stockholders was $9.7 million, or $0.04 per diluted share.
- Core FFO attributable to common stockholders was $40.5 million, or $0.19 per diluted share.
- Full year 2024 earnings guidance was raised.
- Same Store Net Operating Income increased by 1.8%.
Headline financials
Revenue & EPS history
Paramount · Revenue · Quarterly
$195M
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 2024 to be between $0.78 and $0.80 per diluted share and estimates that net loss attributable to common stockholders will be between $0.09 and $0.07 per diluted share.
Tailwinds
- Net loss attributable to common stockholders is expected to be between $0.09 and $0.07 per diluted share, compared to its prior estimate of $0.11 and $0.07 per diluted share.
- The increase in net income of $0.01 per diluted share resulted primarily from better portfolio operations.
- Estimated 2024 Core FFO to be between $0.78 and $0.80 per diluted share, compared to its prior estimate of $0.76 and $0.80 per diluted share.
- This represents an increase of $0.01 per diluted share at the midpoint from the Company’s prior guidance, resulting primarily from better portfolio operations.
- Estimates reflect management’s view of current and future market conditions, including assumptions with respect to rental rates and occupancy levels.
Headwinds
- Estimates do not include the impact on operating results from possible future property acquisitions or dispositions, or realized and unrealized gains and losses on real estate related fund investments.
- There can be no assurance that the Company’s actual results will not differ materially from the estimates set forth above.
- The company’s ability to enter into new leases or renew leases on favorable terms.
- Dependence on tenants’ financial condition.
- The risk of losing a major tenant or that a major tenant may be adversely impacted by market and economic conditions, including elevated inflation and interest rates.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 16 quarterly earnings reports · overlaid with Q3 2024
+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 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro