UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in Paramount Group, Inc. (NYSE:PGRE - Free Report) by 5.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,308,113 shares of the financial services provider's stock after selling 80,144 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.60% of Paramount Group worth $6,462,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in PGRE. Sterling Capital Management LLC lifted its holdings 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 worth $29,000 after buying an additional 5,257 shares in the last quarter. Gotham Asset Management LLC acquired a new stake in Paramount Group in the 4th quarter valued at $52,000. Commerce Bank acquired a new stake in shares of Paramount Group in the 4th quarter valued at approximately $54,000. Greenleaf Trust bought a new stake in Paramount Group in the 4th quarter valued at $63,000. Finally, US Bancorp DE increased its position in Paramount Group by 33.9% during the 4th quarter. US Bancorp DE now owns 14,656 shares of the financial services provider's stock worth $72,000 after buying an additional 3,708 shares during the period. Institutional investors and hedge funds own 65.64% of the company's stock.
Insider Transactions at Paramount Group
In related news, CEO Albert P. Behler bought 10,000 shares of the company's stock in a transaction that occurred on Friday, March 21st. The stock was bought at an average cost of $4.15 per share, for a total transaction of $41,500.00. Following the acquisition, the chief executive officer now directly owns 751,812 shares of the company's stock, valued at $3,120,019.80. The trade was a 1.35% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 13.80% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on PGRE shares. Evercore ISI upgraded Paramount Group from an "in-line" rating to an "outperform" rating and lifted their target price for the company from $4.50 to $8.00 in a research report on Tuesday, May 20th. Mizuho lowered their price objective on Paramount Group from $6.00 to $5.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 25th. Morgan Stanley reiterated an "underweight" rating and issued a $3.25 target price on shares of Paramount Group in a research note on Tuesday, April 15th. Wall Street Zen cut shares of Paramount Group from a "hold" rating to a "sell" rating in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company reduced 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 note on Monday, May 19th. Three investment analysts have rated the stock with a sell rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $5.19.
Check Out Our Latest Analysis on PGRE
Paramount Group Price Performance
Shares of PGRE stock traded up $0.05 during trading hours on Thursday, reaching $6.25. The stock had a trading volume of 157,855 shares, compared to its average volume of 1,402,763. The stock's fifty day simple moving average is $4.72 and its 200 day simple moving average is $4.67. The firm has a market capitalization of $1.37 billion, a PE ratio of -6.37 and a beta of 1.12. Paramount Group, Inc. has a 12 month low of $3.75 and a 12 month high of $6.34. The company has a current ratio of 4.45, a quick ratio of 4.45 and a debt-to-equity ratio of 0.91.
Paramount Group (NYSE:PGRE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $187.02 million during the quarter, compared to the consensus estimate of $180.79 million. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. On average, equities research analysts predict that Paramount Group, Inc. will post 0.78 EPS for the current year.
About Paramount Group
(
Free Report)
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.
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