Martingale Asset Management L P Reduces Holdings in Paramount Group, Inc. $PGRE

Key Points

• Martingale Asset Management L P reduced its holdings in Paramount Group, Inc. by 34.4%, selling 87,690 shares during the first quarter, leaving it with approximately 167,030 shares valued at $718,000.
• Several institutional investors have increased their stakes in Paramount Group, with Northern Trust Corp raising its position by 40.1% and Two Sigma Advisers LP increasing theirs by 103.3% in the fourth quarter.
• Analysts have issued mixed ratings on Paramount Group, with target price estimates ranging from $4.50 to $8.00, and a consensus rating of "Hold" with an average target price of $5.44.

Martingale Asset Management L P trimmed its stake in Paramount Group, Inc. (NYSE:PGRE - Free Report) by 34.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 167,030 shares of the financial services provider's stock after selling 87,690 shares during the period. Martingale Asset Management L P owned about 0.08% of Paramount Group worth $718,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PGRE. Quantinno Capital Management LP lifted its position in shares of Paramount Group by 22.0% in the 4th quarter. Quantinno Capital Management LP now owns 15,771 shares of the financial services provider's stock worth $78,000 after purchasing an additional 2,845 shares during the period. Nebula Research & Development LLC increased its position in shares of Paramount Group by 7.0% during the fourth quarter. Nebula Research & Development LLC now owns 54,852 shares of the financial services provider's stock worth $271,000 after buying an additional 3,611 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Paramount Group by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 105,005 shares of the financial services provider's stock worth $519,000 after buying an additional 3,673 shares during the last quarter. Manchester Capital Management LLC lifted its holdings 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 period. Finally, Wolverine Asset Management LLC lifted its holdings in Paramount Group by 86.6% in the first quarter. Wolverine Asset Management LLC now owns 12,195 shares of the financial services provider's stock valued at $52,000 after buying an additional 5,659 shares during the period. 65.64% of the stock is owned by institutional investors.

Paramount Group Stock Up 1.5%

Paramount Group stock traded up $0.11 during midday trading on Friday, hitting $7.18. 1,165,202 shares of the stock were exchanged, compared to its average volume of 2,353,621. Paramount Group, Inc. has a 52-week low of $3.75 and a 52-week high of $7.26. 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 business's 50-day moving average price is $6.44 and its 200-day moving average price is $5.38. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -19.99 and a beta of 1.35.

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, topping the consensus estimate of $0.14 by $0.03. The firm had revenue of $177.05 million for the quarter, compared to analysts' expectations of $173.98 million. Paramount Group had a negative net margin of 10.49% and a negative return on equity of 1.92%. Paramount Group has set its FY 2025 guidance at 0.550-0.590 EPS. On average, research analysts expect that Paramount Group, Inc. will post 0.78 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.