Gregmal Posted November 17, 2020 Share Posted November 17, 2020 Nothing to explain yourself about. One would assume your position is also much larger than when you initiated it/started the thread. If your highest basis lot is up 13% then you're sitting pretty cuz we just spent a whole lotta time well below that. The main takeaway I had from the offer is that it was made PRE VACCINE. That is a big deal. Which I think easily gets missed when you look at yesterdays share price and say "Oh they offered a 15% premium, whats the big deal". I wasnt playing for a couple dividends on my first ESRT lot. I was prepared for, but not counting on seeing $5.50...so all in all a 2.5% position at $8 turns into a 6-7% position over the ensuing month's decline and then rockets to ~10% position on the vaccine news...I'm happy to have so much stock to eventually unload. Very good problem to have. Its silly not to rebalance and play the volatility. Link to comment Share on other sites More sharing options...
thepupil Posted November 17, 2020 Author Share Posted November 17, 2020 ya the minutia of my portfolio management is not relevant. more meant to spark a discussion of the merits of the offer, whichI simply think is less weighty than if it came from a real large PE real estate outfit. we'll see! Link to comment Share on other sites More sharing options...
thepupil Posted December 15, 2020 Author Share Posted December 15, 2020 30% dividend cut. Paramount Declares Quarterly Dividend of $0.07 Per Share, for a New Indicated Annual Rate of $0.28 Per Share Business Wire NEW YORK -- December 15, 2020 Paramount Group, Inc. (NYSE: PGRE) (“Paramount”) announced today that its board of directors has declared a decreased quarterly cash dividend of $0.07 per share of common stock for the period from October 1, 2020 to December 31, 2020. The dividend will be payable on January 15, 2021 to stockholders of record as of the close of business on December 31, 2020. The reduction in dividend policy is viewed by the board as a prudent and proactive strategy to preserve liquidity and enhance long-term shareholder value given the impact of COVID-19 on all businesses. 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. Link to comment Share on other sites More sharing options...
Gregmal Posted December 15, 2020 Share Posted December 15, 2020 Yea kind of the read through I got with the ESRT announcement. Granted here they stopped buybacks a while ago. But ESRT suspending dividend but announcing repurchase increase, when: Still had over $350M left on existing Repurchase pace had slowed to a grind recently(prior to vaccine announcement) Gross YTD buyback number was roughly the same since last announcement Due to repurchase variances there is likely no 105b but rather discretion...which means No more buybacks period starting Dec 15 until they next report- likely in February Div suspended Q1+Q2 Much caution still, despite the attempt to wrap a bow around the announcement presentation. Figured the same would be the case elsewhere such as with PGRE. Although it looks like the market is cool with it for now. Link to comment Share on other sites More sharing options...
thepupil Posted December 21, 2020 Author Share Posted December 21, 2020 just wanted to chime in that PGRE's DC asset sale (1899 Pennsylvania) is probably not happening; this is conjecture based on that this was "expected in 4Q" having been agreed to in 1Q. perhaps it's just delayed, but if it were delayed w/ a price modification, I think they'd have agreed to price by now. I don't think it would be delayed with no price modification as this was agreed to MArch 6th (pre-covid in my view) I expected the price to be cut by 10-25%, but would be disappointed if totally cancelled. https://www.businesswire.com/news/home/20200306005033/en/Paramount-Sell-1899-Pennsylvania-Avenue-115-Million Link to comment Share on other sites More sharing options...
KJP Posted December 30, 2020 Share Posted December 30, 2020 DC asset sale closes with 10% price cut: http://ir.paramount-group.com/press-releases/news-details/2020/Paramount-Completes-Sale-of-1899-Pennsylvania-Avenue/default.aspx All things considered, it's a good result. Link to comment Share on other sites More sharing options...
thepupil Posted December 30, 2020 Author Share Posted December 30, 2020 Great result! Link to comment Share on other sites More sharing options...
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