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Jun 30, 2021
Paramount Q2 2021 Earnings Report
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.
Key Takeaways
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.
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.
Positive Outlook
- 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.
Challenges Ahead
- 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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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