Invesco Ltd. Has $3.83 Million Position in Paramount Group, Inc. $PGRE

Key Points

• Invesco Ltd. has reduced its stake in Paramount Group, Inc. by 10.7%, now holding approximately 891,600 shares worth about $3.83 million after selling 106,361 shares.
• Despite Invesco's decrease, other institutional investors like Wolverine Asset Management and XTX Topco Ltd. have increased their stakes by significant percentages, with Wolverine up by 86.6% and XTX by 249.9% in the first quarter.
• Paramount Group reported $0.17 EPS for the last quarter, exceeding estimates, while analysts forecast a full-year EPS of 0.78 for FY 2025.

Invesco Ltd. decreased its position in Paramount Group, Inc. (NYSE:PGRE - Free Report) by 10.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 891,600 shares of the financial services provider's stock after selling 106,361 shares during the period. Invesco Ltd. owned about 0.41% of Paramount Group worth $3,834,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Manchester Capital Management LLC boosted its position in shares of Paramount Group by 99.2% in 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 during the period. Gotham Asset Management LLC purchased a new position in shares of Paramount Group during the fourth quarter valued at $52,000. Wolverine Asset Management LLC grew its holdings in shares of Paramount Group by 86.6% during the first 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. acquired a new position in shares of Paramount Group in the 1st quarter valued at about $64,000. Finally, Adero Partners LLC acquired a new position in shares of Paramount Group in the 1st quarter valued at about $67,000. 65.64% of the stock is owned by institutional investors and hedge funds.

Paramount Group Stock Performance

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

Paramount Group (NYSE:PGRE - Get Free Report) last announced its earnings results on Wednesday, July 30th. The financial services provider reported $0.17 earnings per share for the quarter, beating the consensus estimate 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 during 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. On average, equities research analysts forecast that Paramount Group, Inc. will post 0.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PGRE. Wells Fargo & Company dropped their target price on Paramount Group from $4.50 to $4.20 and set an "underweight" rating on the stock in a report on Wednesday. Mizuho upped their target price on Paramount Group from $5.00 to $6.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Finally, Evercore ISI upgraded Paramount Group from an "in-line" rating to an "outperform" rating and upped their target price for the company from $4.50 to $8.00 in a report on Tuesday, May 20th. Two 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, Paramount Group currently has an average rating of "Hold" and a consensus target price of $5.36.

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.