Paramount Group, Inc. (NYSE:PGRE) Shares Bought by XTX Topco Ltd

Key Points

• XTX Topco Ltd significantly increased its stake in Paramount Group, Inc. by 249.9%, acquiring a total of 162,968 shares worth approximately $701,000.
• Paramount Group reported earnings of $0.17 per share for the last quarter, exceeding analysts' expectations, with total revenue of $177.05 million.
• Recent ratings for Paramount Group shares have varied, with Evercore ISI upgrading it to "outperform" and setting a target price of $8.00, while others have issued "sell" ratings or decreased their target prices.

XTX Topco Ltd increased its position in Paramount Group, Inc. (NYSE:PGRE - Free Report) by 249.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 162,968 shares of the financial services provider's stock after acquiring an additional 116,394 shares during the period. XTX Topco Ltd owned approximately 0.07% of Paramount Group worth $701,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PGRE. Cohen & Steers Inc. acquired a new stake in shares of Paramount Group in the 4th quarter worth approximately $9,231,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Paramount Group in the 1st quarter worth approximately $6,164,000. Solel Partners LP acquired a new stake in shares of Paramount Group in the 4th quarter worth approximately $6,719,000. Long Pond Capital LP grew its holdings in Paramount Group by 12.5% during the 4th quarter. Long Pond Capital LP now owns 10,053,335 shares of the financial services provider's stock valued at $49,663,000 after buying an additional 1,116,395 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Paramount Group by 40.1% during 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 during the last quarter. Institutional investors and hedge funds own 65.64% of the company's stock.

Paramount Group Price Performance

PGRE stock opened at $6.30 on Tuesday. Paramount Group, Inc. has a 52-week low of $3.75 and a 52-week high of $6.89. The stock's fifty day simple moving average is $6.29 and its 200-day simple moving average is $5.12. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of -17.49 and a beta of 1.35.

Paramount Group (NYSE:PGRE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, topping 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 business had revenue of $177.05 million for the quarter, compared to analysts' expectations of $173.98 million. Equities research analysts expect that Paramount Group, Inc. will post 0.78 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Evercore ISI upgraded Paramount Group from an "in-line" rating to an "outperform" rating and increased their target price for the company from $4.50 to $8.00 in a report on Tuesday, May 20th. Mizuho increased 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. Wall Street Zen cut Paramount Group from a "hold" rating to a "sell" rating in a report on Wednesday, April 23rd. Wells Fargo & Company lowered their target price on Paramount Group from $5.00 to $4.50 and set an "underweight" rating on the stock in a report on Monday, May 19th. Finally, Morgan Stanley restated an "underweight" rating and set a $3.25 price objective on shares of Paramount Group in a report on Tuesday, April 15th. Three research analysts have rated the stock with a sell rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $5.44.

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.

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