Paramount Group ( (PGRE) ) has released its Q1 earnings. Here is a breakdown of the information Paramount Group presented to its investors.
Paramount Group, Inc. is a real estate investment trust that specializes in owning, operating, and managing high-quality office properties in New York City and San Francisco. The company is known for its focus on Class A office spaces in prime business districts.
In the first quarter of 2025, Paramount Group reported a net loss of $10 million, or $0.05 per share, a significant shift from the net income of $9.9 million reported in the same period last year. The company’s Core Funds from Operations (Core FFO) also saw a decline, dropping to $37.9 million from $47.9 million in the previous year.
Key financial highlights include a 5.4% decrease in Same Store Net Operating Income and a 4.1% decrease in Same Store Cash NOI. Paramount also completed leasing activities covering 283,874 square feet, with a notable portion being second-generation space. Additionally, the company sold a 45% equity interest in a New York office building, realizing net proceeds of $94 million.
Despite the challenges, Paramount Group remains optimistic about its future performance. The company reaffirmed its Estimated 2025 Core FFO guidance, projecting between $0.51 and $0.57 per share, indicating a cautious but hopeful outlook for the remainder of the year.