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Dec 31, 2021
Paramount Q4 2021 Earnings Report
Paramount's Q4 2021 results were announced, with a net income of $1.2 million and Core FFO of $52.8 million.
Key Takeaways
Paramount Group, Inc. reported a net income attributable to common stockholders of $1.2 million, or $0.01 per diluted share, for the quarter ended December 31, 2021, compared to a net loss of $14.8 million, or $0.07 per diluted share, for the same quarter in 2020. Core Funds from Operations (FFO) attributable to common stockholders was $52.8 million, or $0.24 per diluted share, for the quarter ended December 31, 2021, compared to $52.5 million, or $0.24 per diluted share, for the quarter ended December 31, 2020. Same Store Cash Net Operating Income (NOI) increased by 3.3%, while Same Store NOI decreased by 7.5%.
Net income attributable to common stockholders was $1.2 million, or $0.01 per diluted share.
Core Funds from Operations (FFO) attributable to common stockholders was $52.8 million, or $0.24 per diluted share.
Same Store Cash Net Operating Income (NOI) increased by 3.3%.
Leased 206,952 square feet, with the Company's share being 128,842 square feet at a weighted average initial rent of $89.37 per square foot.
Revenue by Segment
Forward Guidance
The Company is providing its Estimated Core FFO Guidance for the full year of 2022 and estimates net loss attributable to common stockholders will be between $0.07 and $0.01 per diluted share. The company estimates 2022 Core FFO to be between $0.91 and $0.97 per diluted share.
Positive Outlook
- increase in NOI of $0.02 per diluted share (primarily from higher straight-line rent)
- increase in fee and other income of $0.01 per diluted share (primarily from the pending acquisition of 1600 Broadway)
Challenges Ahead
- increase in interest expense of $0.01 per diluted share
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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