Universal Beteiligungs und Servicegesellschaft mbH Invests $6.16 Million in Paramount Group, Inc. (NYSE:PGRE)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH acquired 1,433,381 shares of Paramount Group, Inc. valued at approximately $6.16 million, which represents about 0.65% ownership of the company.
• Several institutional investors, including Cohen & Steers Inc. and Long Pond Capital LP, have increased their stakes in Paramount Group, contributing to a total institutional ownership of 65.64%.
• Analysts have mixed ratings on Paramount Group, with price targets ranging from $3.25 to $8.00, while the current consensus rating is a "Hold" with a target price of $5.44.

Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Paramount Group, Inc. (NYSE:PGRE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,433,381 shares of the financial services provider's stock, valued at approximately $6,164,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.65% of Paramount Group at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Sterling Capital Management LLC grew its holdings in shares of Paramount Group by 806.3% in the fourth quarter. Sterling Capital Management LLC now owns 5,909 shares of the financial services provider's stock worth $29,000 after acquiring an additional 5,257 shares during the period. Gotham Asset Management LLC purchased a new stake in shares of Paramount Group during the 4th quarter valued at about $52,000. Commerce Bank bought a new position in shares of Paramount Group in the 4th quarter worth approximately $54,000. Adero Partners LLC bought a new position in shares of Paramount Group in the 1st quarter worth approximately $67,000. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of Paramount Group by 104.8% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,621 shares of the financial services provider's stock worth $72,000 after buying an additional 7,481 shares during the last quarter. 65.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PGRE. Morgan Stanley restated an "underweight" rating and issued a $3.25 price target on shares of Paramount Group in a research report on Tuesday, April 15th. Wall Street Zen lowered shares of Paramount Group from a "hold" rating to a "sell" rating in a research note on Wednesday, April 23rd. Mizuho increased their target price on Paramount Group from $5.00 to $6.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Wells Fargo & Company decreased their target price on Paramount Group from $5.00 to $4.50 and set an "underweight" rating for the company in a research report on Monday, May 19th. Finally, Evercore ISI raised Paramount Group from an "in-line" rating to an "outperform" rating and increased their target price for the company from $4.50 to $8.00 in a research report on Tuesday, May 20th. Three research analysts have rated the stock with a sell rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $5.44.

Paramount Group Stock Down 2.4%

Shares of Paramount Group stock traded down $0.15 during trading on Monday, reaching $6.23. The company's stock had a trading volume of 1,231,951 shares, compared to its average volume of 2,218,103. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -20.10 and a beta of 1.31. The company has a quick ratio of 5.56, a current ratio of 5.56 and a debt-to-equity ratio of 0.90. Paramount Group, Inc. has a 1-year low of $3.75 and a 1-year high of $6.89. The company has a 50-day simple moving average of $6.25 and a two-hundred day simple moving average of $5.07.

Paramount Group (NYSE:PGRE - Get Free Report) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.17. The company had revenue of $187.02 million during the quarter, compared to analyst estimates of $180.79 million. Paramount Group had a negative return on equity of 1.63% and a negative net margin of 8.76%. As a group, equities analysts forecast that Paramount Group, Inc. will post 0.78 earnings per share for the current year.

About Paramount Group

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.