Paramount Group, Inc. $PGRE Shares Bought by American Century Companies Inc.

American Century Companies Inc. lifted its holdings in shares of Paramount Group, Inc. (NYSE:PGRE - Free Report) by 222.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,749 shares of the financial services provider's stock after buying an additional 34,306 shares during the period. American Century Companies Inc.'s holdings in Paramount Group were worth $214,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Manchester Capital Management LLC grew its position in Paramount Group by 99.2% during the first quarter. Manchester Capital Management LLC now owns 8,864 shares of the financial services provider's stock worth $38,000 after buying an additional 4,415 shares in the last quarter. Gotham Asset Management LLC bought a new stake in shares of Paramount Group in the 4th quarter valued at $52,000. Wolverine Asset Management LLC increased its position in shares of Paramount Group by 86.6% in the 1st quarter. Wolverine Asset Management LLC now owns 12,195 shares of the financial services provider's stock valued at $52,000 after buying an additional 5,659 shares in the last quarter. Levin Capital Strategies L.P. bought a new stake in shares of Paramount Group in the 1st quarter valued at $64,000. Finally, Adero Partners LLC bought a new position in Paramount Group during the 1st quarter worth about $67,000. 65.64% of the stock is currently owned by institutional investors and hedge funds.

Paramount Group Price Performance

PGRE traded down $0.26 on Tuesday, reaching $7.22. 1,055,557 shares of the company's stock were exchanged, compared to its average volume of 3,040,088. The company has a debt-to-equity ratio of 0.90, a current ratio of 5.91 and a quick ratio of 5.91. The stock has a market cap of $1.59 billion, a PE ratio of -20.06 and a beta of 1.38. The stock's fifty day moving average price is $6.63 and its 200-day moving average price is $5.53. Paramount Group, Inc. has a twelve month low of $3.75 and a twelve month high of $7.55.

Paramount Group (NYSE:PGRE - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. The company had revenue of $177.05 million for the quarter, compared to the consensus estimate of $173.98 million. Paramount Group had a negative net margin of 10.49% and a negative return on equity of 1.92%. Paramount Group has set its FY 2025 guidance at 0.550-0.590 EPS. Sell-side analysts expect that Paramount Group, Inc. will post 0.78 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PGRE. Evercore ISI upgraded Paramount Group from an "in-line" rating to an "outperform" rating and raised their price objective for the company from $4.50 to $8.00 in a report on Tuesday, May 20th. Wells Fargo & Company lowered their price objective on Paramount Group from $4.50 to $4.20 and set an "underweight" rating for the company in a research report on Wednesday, August 27th. Finally, Mizuho lifted their target price on Paramount Group from $5.00 to $6.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $5.36.

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.