Vanguard Group Inc. Purchases 59,689 Shares of Paramount Group, Inc. $PGRE

Key Points

• Vanguard Group Inc. has increased its stake in Paramount Group, owning 12.31% of the company, worth approximately $116 million after acquiring 59,689 shares in the 1st quarter.
• Paramount Group's stock has seen fluctuations, recently trading at $6.625 with a 1-year range of $3.75 to $6.93, and a current P/E ratio of -18.40.
• Analysts have set varying price targets for Paramount Group, with Mizuho raising their target to $6.00 while Wells Fargo decreased it to $4.50, indicating mixed market sentiment.

Vanguard Group Inc. lifted its stake in Paramount Group, Inc. (NYSE:PGRE - Free Report) by 0.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,982,485 shares of the financial services provider's stock after buying an additional 59,689 shares during the period. Vanguard Group Inc. owned about 12.31% of Paramount Group worth $116,025,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Sterling Capital Management LLC raised its holdings in shares of Paramount Group by 806.3% in the 4th quarter. Sterling Capital Management LLC now owns 5,909 shares of the financial services provider's stock worth $29,000 after buying an additional 5,257 shares in the last quarter. Manchester Capital Management LLC raised its holdings in shares of 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 buying an additional 4,415 shares in the last quarter. Gotham Asset Management LLC acquired a new position in shares of Paramount Group in the 4th quarter worth approximately $52,000. Commerce Bank acquired a new position in shares of Paramount Group in the 4th quarter worth approximately $54,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Paramount Group by 104.8% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,621 shares of the financial services provider's stock worth $72,000 after buying an additional 7,481 shares in the last quarter. 65.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PGRE has been the subject of a number of recent research reports. Mizuho increased their target price on Paramount Group from $5.00 to $6.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Evercore ISI raised Paramount Group from an "in-line" rating to an "outperform" rating and increased their target price for the stock from $4.50 to $8.00 in a report on Tuesday, May 20th. Finally, Wells Fargo & Company dropped their target price on Paramount Group from $4.50 to $4.20 and set an "underweight" rating for the company in a report on Wednesday. Two analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $5.36.

Paramount Group Price Performance

NYSE PGRE traded up $0.26 during trading hours on Wednesday, reaching $6.96. 11,292,049 shares of the company's stock were exchanged, compared to its average volume of 2,871,239. The stock has a market cap of $1.53 billion, a PE ratio of -19.33 and a beta of 1.35. Paramount Group, Inc. has a one year low of $3.75 and a one year high of $7.06. The firm has a fifty day moving average of $6.43 and a 200-day moving average of $5.36. 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 released its quarterly 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 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. On average, equities research analysts predict that Paramount Group, Inc. will post 0.78 earnings per share for the current fiscal 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.