Paramount Group, Inc. $PGRE Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC reduced its stake in Paramount Group, Inc. by 11.2%, selling 39,730 shares, leaving them with 314,702 shares valued at approximately $1.35 million.
• Wells Fargo, Russell Investments, and other firms increased their holdings significantly during the fourth quarter, highlighting growing institutional interest in Paramount Group's stock.
• Paramount Group reported a quarterly earnings per share (EPS) of $0.17, exceeding analysts' expectations of $0.14, with revenue reaching $177.05 million, surpassing projections of $173.98 million.

Algert Global LLC decreased its position in shares of Paramount Group, Inc. (NYSE:PGRE - Free Report) by 11.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 314,702 shares of the financial services provider's stock after selling 39,730 shares during the quarter. Algert Global LLC owned approximately 0.14% of Paramount Group worth $1,353,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. American Century Companies Inc. lifted its stake in Paramount Group by 222.1% in the 1st quarter. American Century Companies Inc. now owns 49,749 shares of the financial services provider's stock worth $214,000 after purchasing an additional 34,306 shares in the last quarter. Resona Asset Management Co. Ltd. increased its holdings in shares of Paramount Group by 10.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 80,150 shares of the financial services provider's stock worth $341,000 after buying an additional 7,413 shares during the last quarter. Nuveen LLC bought a new stake in shares of Paramount Group in the 1st quarter worth about $6,096,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Paramount Group by 5.0% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 669,362 shares of the financial services provider's stock worth $2,878,000 after buying an additional 31,978 shares during the last quarter. Finally, Wolverine Asset Management LLC grew its holdings in Paramount Group by 86.6% during the 1st quarter. Wolverine Asset Management LLC now owns 12,195 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 5,659 shares during the last quarter. Hedge funds and other institutional investors own 65.64% of the company's stock.

Paramount Group Stock Performance

Shares of PGRE traded down $0.0750 during mid-day trading on Monday, reaching $6.7250. The company had a trading volume of 1,973,998 shares, compared to its average volume of 2,857,351. The stock has a 50 day moving average of $6.41 and a two-hundred day moving average of $5.34. 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 $1.48 billion, a P/E ratio of -18.68 and a beta of 1.35. Paramount Group, Inc. has a 52-week low of $3.75 and a 52-week high of $6.93.

Paramount Group (NYSE:PGRE - Get Free Report) last posted its 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. 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 analysts' expectations of $173.98 million. Paramount Group has set its FY 2025 guidance at 0.550-0.590 EPS. On average, analysts expect that Paramount Group, Inc. will post 0.78 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on PGRE. Wells Fargo & Company lowered their price objective on shares of Paramount Group from $5.00 to $4.50 and set an "underweight" rating for the company in a research report on Monday, May 19th. Evercore ISI raised shares of Paramount Group from an "in-line" rating to an "outperform" rating and upped their price target for the stock from $4.50 to $8.00 in a research report on Tuesday, May 20th. Finally, Mizuho upped their price target on shares of Paramount Group from $5.00 to $6.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. Two analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Paramount Group has a consensus rating of "Hold" and a consensus price target of $5.44.

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.