Paramount Group (NYSE:PGRE) Stock Rating Lowered by Evercore ISI

Key Points

• Evercore ISI has downgraded Paramount Group (NYSE:PGRE) from a "strong-buy" to a "hold" rating, reflecting changing analyst sentiment.
• Wells Fargo upgraded Paramount Group from "underweight" to "equal weight" and raised the price target from $4.20 to $6.60, while Mizuho also lifted their price target from $5.00 to $6.00.
• Paramount Group reported $0.17 earnings per share for its last quarter, exceeding consensus estimates, and has set a guidance range of 0.550-0.590 EPS for fiscal year 2025.

Paramount Group (NYSE:PGRE - Get Free Report) was downgraded by research analysts at Evercore ISI from an "outperform" rating to a "hold" rating in a note issued to investors on Monday, MarketBeat.com reports. They currently have a $6.60 price target on the financial services provider's stock. Evercore ISI's price target would indicate a potential upside of 0.99% from the company's current price.

A number of other brokerages have also commented on PGRE. Wells Fargo & Company raised shares of Paramount Group from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $4.20 to $6.60 in a research report on Thursday, September 18th. Mizuho raised their price target on Paramount Group from $5.00 to $6.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Finally, BTIG Research reiterated a "neutral" rating on shares of Paramount Group in a research note on Wednesday, September 17th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Paramount Group currently has an average rating of "Hold" and an average target price of $5.61.

Paramount Group Trading Up 0.1%

PGRE opened at $6.54 on Monday. The stock has a market capitalization of $1.44 billion, a P/E ratio of -18.15 and a beta of 1.38. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 0.90. Paramount Group has a 12 month low of $3.75 and a 12 month high of $7.85. The firm's fifty day simple moving average is $6.74 and its 200 day simple moving average is $5.69.

Paramount Group (NYSE:PGRE - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. The firm had revenue of $177.05 million for the quarter, compared to the consensus estimate of $173.98 million. Paramount Group had a negative return on equity of 1.92% and a negative net margin of 10.49%. Paramount Group has set its FY 2025 guidance at 0.550-0.590 EPS. As a group, research analysts anticipate that Paramount Group will post 0.78 EPS for the current fiscal year.

Hedge Funds Weigh In On Paramount Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. State of Alaska Department of Revenue grew its position in shares of Paramount Group by 2.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 90,268 shares of the financial services provider's stock worth $550,000 after buying an additional 1,768 shares during the period. Daiwa Securities Group Inc. increased its position in Paramount Group by 3.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 64,009 shares of the financial services provider's stock valued at $390,000 after buying an additional 2,100 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Paramount Group by 3.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 69,114 shares of the financial services provider's stock worth $422,000 after buying an additional 2,350 shares during the period. Teacher Retirement System of Texas boosted its holdings in Paramount Group by 10.9% in the second quarter. Teacher Retirement System of Texas now owns 28,217 shares of the financial services provider's stock worth $172,000 after acquiring an additional 2,778 shares in the last quarter. Finally, Quantinno Capital Management LP grew its stake in Paramount Group by 22.0% in the fourth quarter. Quantinno Capital Management LP now owns 15,771 shares of the financial services provider's stock valued at $78,000 after acquiring an additional 2,845 shares during the period. Institutional investors own 65.64% of the company's stock.

Paramount Group Company Profile

Paramount Group, Inc ("Paramount" or the "Company") 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 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.