(Repeats to chain to corrected alerts)

Overview

* Paramount Group ( PGRE ) Q2 net loss widens to $19.8 mln, impacted by severance costs

* Core FFO for Q2 falls to $36.9 mln from $43.4 mln yr/yr

* The REIT, which operates and manages office properties, raises 2025 Core FFO guidance

Outlook

* Paramount raises 2025 Core FFO guidance to $0.55-$0.59 per share

* Company expects 2025 net loss per share of $0.37-$0.33

* Higher fee income and lower expenses boost 2025 Core FFO outlook

Result Drivers

* LEASE EXPIRATIONS - Scheduled expiration of Google's lease at One Market Plaza decreased occupancy rates

* SEVERANCE COSTS - Net loss impacted by $7.5 mln in expenses related to equity awards and severance payments

* PORTFOLIO OPERATIONS - Improved operations contribute to raised full-year Core FFO guidance

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 EPS -$0.09

Q2 Net -$19.80

Income mln

Q2 Core $36.90

FFO mln

Q2 FFO $27 mln

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and 2 "sell" or "strong sell"

* The average consensus recommendation for the commercial reits peer group is "buy."

* Wall Street's median 12-month price target for Paramount Group Inc ( PGRE ) is $5.75, about 8% below its July 29 closing price of $6.21

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)