Paramount Group (NYSE:PGRE) Price Target Lowered to $4.50 at Morgan Stanley

Paramount Group (NYSE:PGRE - Free Report) had its price target decreased by Morgan Stanley from $4.70 to $4.50 in a report published on Thursday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the financial services provider's stock.

A number of other equities analysts also recently issued reports on the company. Evercore ISI upgraded Paramount Group from an underperform rating to an in-line rating and set a $5.00 price objective for the company in a research report on Monday, March 18th. StockNews.com downgraded Paramount Group from a hold rating to a sell rating in a research report on Monday, February 19th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and a consensus price target of $4.60.

Paramount Group Price Performance

NYSE:PGRE traded up $0.09 during trading hours on Thursday, hitting $4.69. The company's stock had a trading volume of 1,060,138 shares, compared to its average volume of 1,407,481. The stock has a fifty day simple moving average of $4.67 and a 200-day simple moving average of $4.75. The company has a market capitalization of $1.02 billion, a P/E ratio of -3.91, a PEG ratio of 0.23 and a beta of 1.22. The company has a debt-to-equity ratio of 0.95, a current ratio of 4.61 and a quick ratio of 4.61. Paramount Group has a twelve month low of $4.06 and a twelve month high of $5.92.

Paramount Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be issued a $0.035 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.14 dividend on an annualized basis and a yield of 2.99%. Paramount Group's payout ratio is currently -11.67%.

Institutional Investors Weigh In On Paramount Group

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in shares of Paramount Group by 3.3% during the second quarter. BlackRock Inc. now owns 28,873,007 shares of the financial services provider's stock valued at $127,907,000 after acquiring an additional 934,130 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Paramount Group by 1.5% during the third quarter. Vanguard Group Inc. now owns 27,375,371 shares of the financial services provider's stock valued at $170,549,000 after acquiring an additional 404,776 shares in the last quarter. Norges Bank bought a new stake in shares of Paramount Group during the fourth quarter valued at approximately $109,167,000. State Street Corp increased its holdings in shares of Paramount Group by 1.5% during the second quarter. State Street Corp now owns 9,536,197 shares of the financial services provider's stock valued at $69,644,000 after acquiring an additional 137,749 shares in the last quarter. Finally, Jupiter Asset Management Ltd. increased its holdings in shares of Paramount Group by 4.7% during the third quarter. Jupiter Asset Management Ltd. now owns 8,932,443 shares of the financial services provider's stock valued at $41,268,000 after acquiring an additional 400,000 shares in the last quarter. 65.64% of the stock is currently owned by institutional investors.

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.