Long Pond Capital LP Acquires 1,684,098 Shares of Paramount Group, Inc. $PGRE

Key Points

• Long Pond Capital LP increased its stake in Paramount Group, Inc. by 16.8%, acquiring an additional 1,684,098 shares, bringing its total holdings to over 11.7 million shares.
• Analysts have varied opinions on Paramount Group, with Mizuho raising its price target to $6.00 while Wells Fargo lowered its target to $4.50, reflecting mixed forecasts for the stock's performance.
• Paramount Group reported earnings per share of $0.17 for the last quarter, exceeding expectations, and set a fiscal year 2025 guidance of 0.550-0.590 EPS.

Long Pond Capital LP increased its stake in shares of Paramount Group, Inc. (NYSE:PGRE - Free Report) by 16.8% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 11,737,433 shares of the financial services provider's stock after acquiring an additional 1,684,098 shares during the period. Paramount Group accounts for about 3.3% of Long Pond Capital LP's holdings, making the stock its 13th largest position. Long Pond Capital LP owned about 5.35% of Paramount Group worth $50,471,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the company. Manchester Capital Management LLC lifted its position in shares of Paramount Group by 99.2% during the 1st 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 bought a new stake in shares of Paramount Group during the fourth quarter worth $52,000. Wolverine Asset Management LLC grew its stake 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 worth $52,000 after purchasing an additional 5,659 shares during the period. Levin Capital Strategies L.P. acquired a new stake in shares of Paramount Group during the first quarter worth $64,000. Finally, Adero Partners LLC acquired a new stake in shares of Paramount Group during the first quarter worth $67,000. Institutional investors and hedge funds own 65.64% of the company's stock.

Wall Street Analyst Weigh In

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

Paramount Group Stock Up 1.9%

Shares of Paramount Group stock traded up $0.14 during 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 company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -20.01 and a beta of 1.35. The stock has a fifty day moving average price of $6.46 and a two-hundred day moving average price of $5.39. Paramount Group, Inc. has a 52 week low of $3.75 and a 52 week high of $7.26. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 0.90.

Paramount Group (NYSE:PGRE - Get Free Report) last issued its quarterly earnings results 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 analyst estimates of $173.98 million. Paramount Group had a negative return on equity of 1.92% and a negative net margin of 10.49%. Paramount Group has set its FY 2025 guidance at 0.550-0.590 EPS. Sell-side analysts predict that Paramount Group, Inc. will post 0.78 EPS for the current fiscal year.

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.