Paramount Signs 121,000 Square Foot Lease at 1301 Avenue of the Americas
NEW YORK--(BUSINESS WIRE)--Paramount Group, Inc. (NYSE: PGRE) ('Paramount' or the 'Company') announced today that it has signed a 121,000 square foot, 16.5 year lease with Benesch, Friedlander, Coplan & Aronoff LLP ('Benesch') at 1301 Avenue of the Americas, a 1.8 million square-foot Class A office building, located between 52 nd and 53 rd Streets in Midtown Manhattan. Of the 121,000 square feet, approximately 30,000 square feet is short term.
'We are proud to welcome Benesch to 1301 Avenue of the Americas,' said Douglas Neye, Senior Vice President. 'This significant commitment is a testament to the building's many appealing attributes and another example of the New York office market's resurgence. By joining our tenant roster, Benesch employees will benefit from the building's central location and its amenity offerings, including membership to the Paramount Club. This members-only club, designed for tenants across our New York portfolio, remains a unique and valuable amenity in the market. With this agreement, 1301 Avenue of the Americas is 90% leased. We look forward to a long-term partnership with Benesch.'
Designed by Skidmore, Owings & Merrill, 1301 Avenue of the Americas is a stunning 45-story office tower featuring over 1.8 million square feet of Class A office space. Additionally, the building provides direct access to Rockefeller Center, with its many upscale retail shops, fine dining establishments and subway connections. The building offers its tenants an abundance of natural light along with magnificent views of Central Park and other Midtown landmarks.
About Paramount Group, Inc.
Headquartered in New York City, Paramount Group, Inc. is a fully-integrated real estate investment trust that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Riot Platforms, Inc. (RIOT) Outperforms Broader Market: What You Need to Know
Riot Platforms, Inc. (RIOT) closed the latest trading day at $10.11, indicating a +2.64% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily gain of 0.09%. The company's stock has climbed by 16.16% in the past month, exceeding the Finance sector's gain of 5.44% and the S&P 500's gain of 7.21%. Investors will be eagerly watching for the performance of Riot Platforms, Inc. in its upcoming earnings disclosure. The company is expected to report EPS of -$0.26, up 18.75% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $142.25 million, up 103.15% from the prior-year quarter. For the full year, the Zacks Consensus Estimates are projecting earnings of -$1.53 per share and revenue of $623.25 million, which would represent changes of -550% and +65.47%, respectively, from the prior year. Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Riot Platforms, Inc. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits. Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model. The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.52% lower. As of now, Riot Platforms, Inc. holds a Zacks Rank of #5 (Strong Sell). The Financial - Miscellaneous Services industry is part of the Finance sector. With its current Zacks Industry Rank of 141, this industry ranks in the bottom 43% of all industries, numbering over 250. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Ensure to harness to stay updated with all these stock-shifting metrics, among others, in the next trading sessions. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Riot Platforms, Inc. (RIOT) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Why ABM Industries Topped the Market Today
Not one, but two analysts upgraded their recommendations on the company. Both now believe investors should buy its shares. 10 stocks we like better than Abm Industries › ABM Industries (NYSE: ABM) stock kicked off the trading week on a high note Monday, closing more than 3.5% higher in price following two recommendation upgrades from analysts tracking the stock. That performance was more than good enough to eclipse the bellwether S&P 500 index, which essentially flatlined that day. Those pundit updates came one business day after ABM released its second quarter of fiscal 2025 earnings report. The company notched a minor beat on the consensus analyst estimate for revenue but missed slightly on that for profitability. Investors didn't greet this development warmly, and their immediate reaction as a group was to trade out of ABM's shares. The situation flipped on Monday, however, as the pair of pundits published new takes on the stock before market open. The first upgrade came from Baird's Andrew Wittman. He upgraded his recommendation on ABM to outperform (i.e., buy) from the previous neutral at a price target of $56 per share. According to reports, Wittman feels the sell-off was unjustified and leaves the stock attractively priced, especially since the company has been effective at securing new work. His peer Joshua Chan at UBS also became notably more bullish on ABM with a recommendation change to buy from neutral (in his case, tagging the stock with a $50 per share price target). According to reports, Chan was particularly encouraged by renewed growth in the company's core business and industry segment. Personally, I'd fall between those bearish investors selling off ABM stock Friday and the analysts upping their recommendations. Yes, the company has reported some encouraging developments of late, but it's neither a strongly growing business nor a high-yielding dividend payer. I'd probably look elsewhere for stocks with better potential. Before you buy stock in Abm Industries, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Abm Industries wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $669,517!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $868,615!* Now, it's worth noting Stock Advisor's total average return is 792% — a market-crushing outperformance compared to 173% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Eric Volkman has no position in any of the stocks mentioned. The Motley Fool recommends Abm Industries. The Motley Fool has a disclosure policy. Why ABM Industries Topped the Market Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
2 hours ago
- Business Insider
EPR, MO, and BTI: The Dividend Kings Offering Sturdy Yields and Stock Price Gains
In today's market, dividend investors often face a tough choice: high-yield stocks that risk becoming yield traps due to poor performance, or growth stocks with solid returns but minimal income. However, a select group of dividend stocks is managing to offer the best of both worlds—strong yields and solid performance. Not only are these stocks the so-called 'Dividend Kings', but they've also provided rather decent stock price appreciation in recent months. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter EPR Properties (EPR), Altria (MO), and British American Tobacco (BTI) are three dividend stocks worth watching, each offering an attractive yield of over 6%. Unlike many high-yield plays driven by declining share prices, these names have delivered substantial gains over the past year, making them standouts in the current landscape. EPR Properties (NYSE:EPR) While quarterly dividends are appreciated, monthly dividends offer even greater appeal—and that's precisely what EPR Properties provides. The stock currently offers an attractive 6.1% yield, nearly five times higher than the S&P 500 (SPX). Importantly, this yield isn't the result of a declining share price; EPR has been a strong performer, climbing 40% over the past 12 months. Despite this impressive rally, the stock remains reasonably valued, trading at just 11x forward funds from operations (FFO)—a key valuation metric for real estate investment trusts (REITs). As a firm, EPR specializes in owning and developing experiential properties across the U.S. Its portfolio includes a wide range of venues such as movie theaters, fitness centers, 'eat-and-play' destinations (like bowling alleys and golf entertainment venues such as TopGolf), amusement parks, water parks, and ski resorts. With 331 properties and over 200 tenants throughout the U.S. and Canada, EPR benefits from a broad and diversified income base. The company has paid a dividend for 27 consecutive years. However, it should be noted that while this is a monthly dividend payer, the company didn't pay a dividend for 15 months during 2020 and 2021 as it grappled with the effects of the COVID pandemic. While this is a concern worth being aware of, I don't think it's a cause for significant worry going forward as the pandemic and the lockdowns presented an extreme, unprecedented scenario for all businesses to deal with, especially ones like EPR that own experiential properties that require people to be out and about to be successful. Since resuming dividend payouts in July 2021, EPR has been paying these monthly dividends consistently and incrementally increasing the payouts over time. I'm bullish on this unique REIT based on its strong momentum over the past year, inexpensive valuation, 6%+ dividend yield, and attractive monthly payout schedule, making it a strong option for income investors. Is EPR a Good Stock to Buy? EPR earns a Hold consensus rating based on three Buys, five Holds, and two Sell ratings assigned in the past three months. The average EPR stock price target of $54.75 implies ~3% downside potential from current levels. Altria (NYSE:MO) Unlike EPR, Altria Group—the parent company of Marlboro cigarettes in the U.S., as well as electronic cigarette brand NJOY, and on! nicotine pouches—doesn't pay a monthly dividend. Instead, it follows the more traditional quarterly schedule. However, it makes up for that with an even higher yield of 6.8%, surpassing EPR's payout. And importantly, this yield isn't the result of weak performance—Altria shares have climbed ~27% over the past year. Beyond its generous yield, Altria offers exceptional dividend reliability. As a Dividend King, the company has increased its dividend for 55 consecutive years—a testament to its long-term commitment to shareholders. Altria is also returning capital through share buybacks. In Q1 2025, the company repurchased $326 million worth of stock, leaving $674 million remaining under its current authorization, which it aims to complete by the end of the year. Shares of Altria are also cheap, trading at just 11x earnings. This represents a significant discount to the broader market as the S&P 500 currently trades at roughly 21x. While tobacco companies are rarely associated with high growth, it's important to note that Altria is not a business in decline. The company is projecting steady, if modest, earnings per share growth of 2–5% for 2025. Notably, Altria is seeing strong momentum in its smokeless products segment—its on! nicotine pouches registered 18% year-over-year shipment growth in the most recent quarter, signaling a fruitful long-term market offering. I remain bullish on Altria, driven by its nearly 7% dividend yield, its remarkable track record of consistent dividend growth, and its attractive, undemanding valuation. Is Altria Group a Buy, Sell, or Hold? MO earns a Hold consensus rating based on three Buys, three Holds, and two Sell ratings assigned in the past three months. MO's average stock price target of $56.86 implies ~4% downside potential from current levels over the coming year. British American Tobacco (NYSE:BTI) Like Altria, British American Tobacco is a global leader in tobacco and nicotine products, delivering impressive returns—shares are up ~55% over the past 12 months. The company owns iconic cigarette brands, such as Lucky Strike, and markets Camel, American Spirit, and Newport in the U.S. Its portfolio also includes next-generation products, including Vuse vapor devices and Velo nicotine pouches. BTI currently offers an appealing dividend yield of 6.2%, paid quarterly. The company has a strong track record of 26 consecutive years of dividend growth on a GBP basis, though U.S. investors should note that payouts may vary in USD terms due to currency fluctuations. Valuation-wise, BTI appears attractively priced, trading at just 10.4x projected 2025 earnings—slightly below Altria's multiple and roughly half the valuation of the broader market. In addition to its dividend, BTI is actively returning capital to shareholders through stock buybacks. Following the partial sale of its stake in Indian conglomerate ITC, the company raised its 2025 buyback program to £1.1 billion. I'm bullish on BTI due to its strong yield, consistent dividend history, sizable share buyback program, and compelling valuation. What is the Price Target for BTI Stock? On Wall Street, BTI stock carries a Moderate Sell consensus rating based on coverage from just two analysts. According to Rashad Kawan from Morgan Stanley, BTI is rated a Sell with a price target of $35.50, indicating approximately 25% downside risk in BTI stock over the coming months. In his most recent research note, Kawan reaffirmed his Sell rating based on BTI's latest earnings release, published in February of this year. Meanwhile, John Eade from Argus Research issued a Hold rating on BTI at the turn of the year and has not changed his stance since. Three Strong Choices for Income Investors In today's market, it's rare to find stocks that offer both attractive dividend yields and strong performance, but EPR Properties, Altria, and British American Tobacco all manage to deliver on both fronts. I'm bullish on all three and consider them strong picks for income-focused investors. Each stock offers a dividend yield above 6%, trades at a reasonable valuation, and has posted impressive gains over the past year, making them far from typical yield traps. Among the three, my top picks are EPR and Altria. EPR stands out for its monthly dividend payments, differentiated business model, and diverse revenue streams. While both Altria and BTI are compelling options, I give the edge to Altria due to its exceptional track record of consistent dividend growth spanning more than five decades.
