Charles Schwab Investment Management Inc. Cuts Stake in Paramount Group, Inc. $PGRE

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Paramount Group, Inc. by 8.1%, selling 266,477 shares during the first quarter, leaving them with 3,004,220 shares valued at approximately $12.9 million.
• Multiple institutional investors have been active with Paramount Group, with Northern Trust Corp increasing its holdings by 40.1% and Deutsche Bank AG raising its stake by 58.3% in the fourth quarter.
• Recent analyst reports show divided views, with Mizuho setting a new price target of $6.00 while Wells Fargo downgraded their target to $4.50, resulting in a consensus rating of "Hold" for Paramount Group.

Charles Schwab Investment Management Inc. cut its holdings in Paramount Group, Inc. (NYSE:PGRE - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,004,220 shares of the financial services provider's stock after selling 266,477 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.37% of Paramount Group worth $12,918,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp increased its position in 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 valued at $14,282,000 after buying an additional 827,187 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Paramount Group during the first quarter valued at $6,164,000. Solel Partners LP bought a new position in Paramount Group during the fourth quarter valued at $6,719,000. Two Sigma Investments LP boosted its holdings in shares of Paramount Group by 17.4% in the fourth quarter. Two Sigma Investments LP now owns 1,088,289 shares of the financial services provider's stock worth $5,376,000 after acquiring an additional 160,956 shares during the period. Finally, Deutsche Bank AG boosted its stake in Paramount Group by 58.3% during the fourth quarter. Deutsche Bank AG now owns 960,894 shares of the financial services provider's stock valued at $4,747,000 after buying an additional 353,803 shares during the period. 65.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PGRE has been the topic of several analyst reports. Wells Fargo & Company decreased their price objective on Paramount Group from $5.00 to $4.50 and set an "underweight" rating on the stock in a report on Monday, May 19th. 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. Finally, Evercore ISI upgraded Paramount Group from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $4.50 to $8.00 in a research note on Tuesday, May 20th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $5.44.

Paramount Group Trading Down 0.8%

Shares of NYSE:PGRE traded down $0.05 during trading on Tuesday, reaching $6.69. 1,851,654 shares of the company were exchanged, compared to its average volume of 2,894,458. The firm has a market capitalization of $1.47 billion, a PE ratio of -18.58 and a beta of 1.35. The business's fifty day simple moving average is $6.42 and its 200-day simple moving average is $5.35. Paramount Group, Inc. has a 12-month low of $3.75 and a 12-month high of $6.93. The company has a debt-to-equity ratio of 0.90, a current ratio of 5.91 and a quick ratio of 5.91.

Paramount Group (NYSE:PGRE - Get Free Report) last issued its earnings results on Wednesday, July 30th. The financial services provider reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. The business had revenue of $177.05 million for the quarter, compared to analyst estimates 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. On average, research analysts anticipate that Paramount Group, Inc. will post 0.78 EPS for the current year.

About Paramount Group

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.