Paramount Group, Inc. $PGRE Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp decreased its stake in Paramount Group, Inc. (PGRE) by 1.5% during the first quarter, selling 44,736 shares and maintaining ownership of approximately 2.84 million shares valued at $12.24 million.
• An analyst report upgraded PGRE's stock from "in-line" to "outperform," raising the price target from $4.50 to $8.00, while Wells Fargo set a lower target of $4.20 with an "underweight" rating.
• Paramount Group recently reported quarterly earnings of $0.17 EPS, exceeding expectations, while forecasting an EPS of 0.550-0.590 for FY 2025.

Northern Trust Corp reduced its position in Paramount Group, Inc. (NYSE:PGRE - Free Report) by 1.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,846,332 shares of the financial services provider's stock after selling 44,736 shares during the quarter. Northern Trust Corp owned about 1.30% of Paramount Group worth $12,239,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PGRE. Price T Rowe Associates Inc. MD grew its holdings in shares of Paramount Group by 7.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 155,356 shares of the financial services provider's stock valued at $768,000 after buying an additional 10,962 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Paramount Group in the fourth quarter valued at $533,000. Algert Global LLC boosted its holdings in Paramount Group by 8.2% in the fourth quarter. Algert Global LLC now owns 354,432 shares of the financial services provider's stock valued at $1,751,000 after purchasing an additional 26,742 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Paramount Group by 159.7% in the fourth quarter. Ameriprise Financial Inc. now owns 43,239 shares of the financial services provider's stock valued at $214,000 after purchasing an additional 26,590 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Paramount Group by 8.4% in the fourth quarter. BNP Paribas Financial Markets now owns 96,923 shares of the financial services provider's stock valued at $479,000 after purchasing an additional 7,489 shares during the last quarter. 65.64% of the stock is owned by hedge funds and other institutional investors.

Paramount Group Price Performance

Shares of PGRE traded up $0.02 during mid-day trading on Wednesday, hitting $7.26. 1,627,694 shares of the company were exchanged, compared to its average volume of 2,849,100. Paramount Group, Inc. has a 1-year low of $3.75 and a 1-year high of $7.55. The company has a debt-to-equity ratio of 0.90, a quick ratio of 5.91 and a current ratio of 5.91. The company has a 50 day moving average of $6.65 and a 200-day moving average of $5.54. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of -20.15 and a beta of 1.38.

Paramount Group (NYSE:PGRE - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.17 earnings per share for the quarter, topping 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 firm had revenue of $177.05 million during the quarter, compared to the consensus estimate of $173.98 million. Paramount Group has set its FY 2025 guidance at 0.550-0.590 EPS. Analysts expect that Paramount Group, Inc. will post 0.78 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on PGRE. Evercore ISI raised shares of Paramount Group from an "in-line" rating to an "outperform" rating and upped their price target for the company from $4.50 to $8.00 in a report on Tuesday, May 20th. Wells Fargo & Company lowered their target price on shares of Paramount Group from $4.50 to $4.20 and set an "underweight" rating on the stock in a research note on Wednesday, August 27th. Finally, Mizuho increased their target price on shares of Paramount Group from $5.00 to $6.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company's stock. According to MarketBeat, Paramount Group currently has a consensus rating of "Hold" and an average price target of $5.36.

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.