Paramount Group ( (PGRE) ) has released its Q4 earnings. Here is a breakdown of the information Paramount Group presented to its investors.
Paramount Group, Inc., a real estate investment trust based in New York City, specializes in owning, operating, and managing high-quality Class A office properties in key business districts of New York City and San Francisco.
In its fourth-quarter 2024 earnings report, Paramount Group reported a net loss attributable to common stockholders of $38.6 million, a significant improvement from the $205.6 million loss in the same quarter of the previous year. The company also initiated its guidance for the full year 2025.
Key financial metrics showed a decrease in Core Funds from Operations (Core FFO) to $41.2 million from $47.4 million year-over-year. The company leased 108,824 square feet during the quarter, with a negative mark-to-market on second-generation space. Additionally, Paramount completed a significant transaction by selling a 45% equity interest in a New York City office building, which contributed to a reduction in its revolving credit facility commitments.
Looking ahead, Paramount Group’s management has provided guidance for 2025, estimating a net loss per diluted share between $0.36 and $0.30 and Core FFO between $0.51 and $0.57 per diluted share. The company anticipates challenges due to lease expirations but remains focused on strategic asset management and operational efficiency.