Paramount Group, Inc. $PGRE Holdings Lowered 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 trimmed its stake in shares of Paramount Group, Inc. (NYSE:PGRE - Free Report) by 11.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 314,702 shares of the financial services provider's stock after selling 39,730 shares during the quarter. Algert Global LLC owned about 0.14% of Paramount Group worth $1,353,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Sterling Capital Management LLC boosted its position in Paramount Group by 806.3% during the 4th quarter. Sterling Capital Management LLC now owns 5,909 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 5,257 shares during the period. Manchester Capital Management LLC lifted its stake in 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 valued at $38,000 after buying an additional 4,415 shares during the last quarter. Gotham Asset Management LLC acquired a new position in shares of Paramount Group during the fourth quarter valued at $52,000. Wolverine Asset Management LLC lifted its position in Paramount Group by 86.6% in 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. Finally, Commerce Bank acquired a new position in Paramount Group during the 4th quarter valued at about $54,000. Institutional investors own 65.64% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Mizuho raised their price target on shares of Paramount Group from $5.00 to $6.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. Evercore ISI upgraded Paramount Group from an "in-line" rating to an "outperform" rating and raised their target price for the company from $4.50 to $8.00 in a research report on Tuesday, May 20th. Finally, Wells Fargo & Company cut their target price on Paramount Group from $4.50 to $4.20 and set an "underweight" rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $5.36.

Paramount Group Price Performance

Paramount Group stock traded down $0.08 during midday trading on Thursday, hitting $6.88. The company's stock had a trading volume of 1,062,631 shares, compared to its average volume of 2,345,977. Paramount Group, Inc. has a 12 month low of $3.75 and a 12 month high of $7.05. 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 company has a market capitalization of $1.52 billion, a PE ratio of -19.10 and a beta of 1.35. The stock's 50-day moving average price is $6.43 and its 200-day moving average price is $5.36.

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 for the quarter, beating the consensus estimate of $0.14 by $0.03. Paramount Group had a negative net margin of 10.49% and a negative return on equity of 1.92%. The company had revenue of $177.05 million during the quarter, compared to analyst estimates of $173.98 million. Paramount Group has set its FY 2025 guidance at 0.550-0.590 EPS. Analysts anticipate that Paramount Group, Inc. will post 0.78 earnings per share 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.