Nuveen LLC Takes $6.10 Million Position in Paramount Group, Inc. $PGRE

Key Points

• Nuveen LLC acquired 1,417,650 shares of Paramount Group, Inc. (NYSE:PGRE), valued at approximately $6,096,000, representing about 0.65% of the company by the end of the last quarter.
• Paramount Group recently reported $0.17 EPS for the quarter, exceeding estimates, while their FY 2025 guidance is set between 0.550-0.590 EPS.
• Analysts have varied views on PGRE, with Mizuho raising the price target to $6.00 while Wells Fargo lowered theirs to $4.50, reflecting a mixed sentiment on the stock's performance.

Nuveen LLC purchased a new position in Paramount Group, Inc. (NYSE:PGRE - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,417,650 shares of the financial services provider's stock, valued at approximately $6,096,000. Nuveen LLC owned approximately 0.65% of Paramount Group as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Northern Trust Corp boosted its position in shares of Paramount Group by 40.1% in the 4th quarter. Northern Trust Corp now owns 2,891,068 shares of the financial services provider's stock worth $14,282,000 after purchasing an additional 827,187 shares in the last quarter. Two Sigma Advisers LP lifted its position in Paramount Group by 103.3% in the 4th quarter. Two Sigma Advisers LP now owns 742,100 shares of the financial services provider's stock valued at $3,666,000 after acquiring an additional 377,100 shares in the last quarter. XTX Topco Ltd lifted its position in Paramount Group by 249.9% in the 1st quarter. XTX Topco Ltd now owns 162,968 shares of the financial services provider's stock valued at $701,000 after acquiring an additional 116,394 shares in the last quarter. Deutsche Bank AG lifted its position in Paramount Group by 58.3% in the 4th quarter. Deutsche Bank AG now owns 960,894 shares of the financial services provider's stock valued at $4,747,000 after acquiring an additional 353,803 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its position in Paramount Group by 102.8% in the 1st quarter. GSA Capital Partners LLP now owns 402,937 shares of the financial services provider's stock valued at $1,733,000 after acquiring an additional 204,248 shares in the last quarter. 65.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on PGRE shares. Mizuho upped their price objective on Paramount Group from $5.00 to $6.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Evercore ISI raised Paramount Group from an "in-line" rating to an "outperform" rating and increased their price target for the company from $4.50 to $8.00 in a report on Tuesday, May 20th. Finally, Wells Fargo & Company lowered their price target on Paramount Group from $4.50 to $4.20 and set an "underweight" rating on the stock in a report on Wednesday. Two analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Paramount Group currently has a consensus rating of "Hold" and an average price target of $5.36.

Paramount Group Price Performance

PGRE stock traded up $0.14 during trading on Friday, reaching $7.21. The company's stock had a trading volume of 2,418,617 shares, compared to its average volume of 3,350,727. Paramount Group, Inc. has a 1 year low of $3.75 and a 1 year high of $7.26. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $1.59 billion, a P/E ratio of -20.01 and a beta of 1.35. The company's fifty day moving average is $6.46 and its 200-day moving average is $5.40.

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

Paramount Group 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.