Paramount Group, Inc (PGRE) swung to a net loss for the quarter ended Sep. 30, 2016. The company has made a net loss of $0.14 million in the quarter, against a net profit of $1.12 million in the last year period.
Revenue during the quarter went up marginally by 2.14 percent to $171.32 million from $167.73 million in the previous year period.
Total expenses were $143.92 million for the quarter, up 1.95 percent or $2.76 million from year-ago period. Operating margin for the quarter expanded 15 basis points over the previous year period to 15.99 percent.
Operating income for the quarter was $27.40 million, compared with $26.57 million in the previous year period.
Revenue from real estate activities during the quarter went up marginally by 2.14 percent or $3.59 million to $171.32 million.
Income from operating leases during the quarter went up marginally by 1.74 percent or $2.55 million to $149.02 million. Revenue from tenant reimbursements was $11.98 million for the quarter, down 16.85 percent or $2.43 million from year-ago period.
Income from management fees during the quarter jumped 50.65 percent or $3.47 million to $10.32 million.
Net receivables were at $12.18 million as on Sep. 30, 2016, down 1.04 percent or $0.13 million from year-ago. Accounts payable stood at $85.95 million as on Sep. 30, 2016.
Real estate investments stood at $32.07 million as on Sep. 30, 2016. Investments stood at $22.01 million as on Sep. 30, 2016, up 8.08 percent or $1.65 million from year-ago.
Total assets declined 7.20 percent or $646.76 million to $8,340.05 million on Sep. 30, 2016. On the other hand, total liabilities were at $3,477.76 million as on Sep. 30, 2016, up 0.75 percent or $25.82 million from year-ago.
Return on assets moved down 5 basis points to 0.05 percent in the quarter.
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