Paramount Group, Inc. $PGRE Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Paramount Group, Inc. by 27.3%, now holding approximately 0.42% of the company valued at $3.93 million.
• Paramount Group reported earnings of $0.17 per share in its latest quarterly results, exceeding analysts' expectations of $0.14.
• Analysts have mixed ratings on PGRE, with a consensus rating of "Hold" and a price target averaging $5.36.

Goldman Sachs Group Inc. decreased its holdings in Paramount Group, Inc. (NYSE:PGRE - Free Report) by 27.3% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 913,008 shares of the financial services provider's stock after selling 342,472 shares during the period. Goldman Sachs Group Inc. owned approximately 0.42% of Paramount Group worth $3,926,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

PGRE has been the subject of several recent analyst reports. BTIG Research reaffirmed a "neutral" rating on shares of Paramount Group in a research note on Wednesday. Wells Fargo & Company upgraded Paramount Group from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $4.20 to $6.60 in a research report on Thursday. Finally, Mizuho upped their target price on Paramount Group from $5.00 to $6.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $5.96.

Paramount Group Stock Performance

PGRE traded down $0.03 during trading on Friday, hitting $6.53. 7,444,040 shares of the stock were exchanged, compared to its average volume of 6,426,184. The firm has a market capitalization of $1.44 billion, a P/E ratio of -18.14 and a beta of 1.38. Paramount Group, Inc. has a 1-year low of $3.75 and a 1-year high of $7.85. The stock has a fifty day moving average price of $6.74 and a two-hundred day moving average price of $5.68. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 0.90.

Paramount Group (NYSE:PGRE - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.17 earnings per share for the quarter, beating 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 firm had revenue of $177.05 million for the quarter, compared to the consensus estimate of $173.98 million. Paramount Group has set its FY 2025 guidance at 0.550-0.590 EPS. As a group, sell-side analysts predict that Paramount Group, Inc. will post 0.78 earnings per share for the current 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.