Paramount Group: Q1 Earnings Snapshot

NEW YORK (AP) — NEW YORK (AP) — Paramount Group Inc. (PGRE) on Wednesday reported a key measure of profitability in its first quarter.

The New York-based real estate investment trust said it had funds from operations of $47.9 million, or 22 cents per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $9.9 million, or 5 cents per share.

The real estate investment trust that owns office buildings, based in New York, posted revenue of $188.9 million in the period.

Paramount Group expects full-year funds from operations in the range of 75 cents to 81 cents per share.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PGRE at https://www.zacks.com/ap/PGRE

Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.

Federal News Network Logo
Log in to your WTOP account for notifications and alerts customized for you.

Sign up