Paramount Group, Inc (PGRE) swung to a net loss for the quarter ended Dec. 31, 2016. The company has made a net loss of $6.49 million, or $ 0.03 a share in the quarter, against a net profit of $8.90 million, or $0.04 a share in the last year period.     

Revenue from real estate activities during the quarter went down marginally by 2.18 percent or $3.73 million to $166.80 million.

Total expenses were $138.90 million for the quarter, down 5.42 percent or $7.96 million from year-ago period. Operating margin for the quarter expanded 285 basis points over the previous year period to 16.72 percent.

Operating income for the quarter was $27.90 million, compared with $23.66 million in the previous year period.

For financial year 2017, the company projects diluted earnings per share to be in the range of $0.33 to $0.37.

Income from operating leases during the quarter dropped 4.10 percent or $6.19 million to $144.71 million. Revenue from tenant reimbursements was $11.84 million for the quarter, up 8.35 percent or $0.91 million from year-ago period.

Income from management fees during the quarter increased 17.84 percent or $1.55 million to $10.25 million.

Net receivables were at $15.25 million as on Dec. 31, 2016, up 40.64 percent or $4.41 million from year-ago. Accounts payable stood at $103.90 million as on Dec. 31, 2016.

Real estate investments stood at $34.58 million as on Dec. 31, 2016, up 386.96 percent or $27.48 million from year-ago.

Total assets went up marginally by 1.05 percent or $91.94 million to $8,867.17 million on Dec. 31, 2016. On the other hand, total liabilities were at $3,981.22 million as on Dec. 31, 2016, up 14.91 percent or $516.54 million from year-ago.

Return on assets was negative at 0.03 percent in the quarter against a positive 0.23 percent in the last year period. Return on equity was negative at 0.13 percent in the quarter against a positive 0.17 percent in the last year period.