Paramount Group, Inc. (NYSE:PGRE) Short Interest Update

Paramount Group, Inc. (NYSE:PGRE - Get Free Report) saw a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 6,930,000 shares, a drop of 18.4% from the March 31st total of 8,490,000 shares. Based on an average daily trading volume, of 1,240,000 shares, the short-interest ratio is presently 5.6 days. Approximately 3.9% of the company's shares are short sold.

Paramount Group Stock Up 1.1 %

Shares of NYSE:PGRE traded up $0.05 during trading on Friday, reaching $4.67. The stock had a trading volume of 442,656 shares, compared to its average volume of 847,646. Paramount Group has a one year low of $4.06 and a one year high of $5.92. The company has a market capitalization of $1.01 billion, a P/E ratio of -3.89, a PEG ratio of 0.25 and a beta of 1.22. The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 0.95. The firm's 50-day simple moving average is $4.60 and its 200 day simple moving average is $4.74.

Paramount Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend was Wednesday, March 27th. Paramount Group's payout ratio is currently -11.67%.

Hedge Funds Weigh In On Paramount Group

A number of institutional investors have recently bought and sold shares of the business. Daiwa Securities Group Inc. raised its position in Paramount Group by 4.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 52,856 shares of the financial services provider's stock worth $244,000 after buying an additional 2,441 shares during the last quarter. Caxton Associates LP raised its position in Paramount Group by 10.0% during the 3rd quarter. Caxton Associates LP now owns 34,882 shares of the financial services provider's stock worth $161,000 after buying an additional 3,163 shares during the last quarter. Swiss National Bank increased its holdings in shares of Paramount Group by 1.0% during the 3rd quarter. Swiss National Bank now owns 358,143 shares of the financial services provider's stock valued at $1,655,000 after purchasing an additional 3,500 shares in the last quarter. Ballentine Partners LLC increased its holdings in shares of Paramount Group by 17.7% during the 1st quarter. Ballentine Partners LLC now owns 25,217 shares of the financial services provider's stock valued at $118,000 after purchasing an additional 3,789 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Paramount Group by 4.3% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 93,182 shares of the financial services provider's stock valued at $431,000 after purchasing an additional 3,863 shares in the last quarter. 65.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on PGRE. Evercore ISI raised shares of Paramount Group from an "underperform" rating to an "in-line" rating and set a $5.00 price target on the stock in a research note on Monday, March 18th. StockNews.com downgraded shares of Paramount Group from a "hold" rating to a "sell" rating in a research note on Monday, February 19th. Finally, Morgan Stanley dropped their target price on shares of Paramount Group from $4.70 to $4.50 and set an "equal weight" rating on the stock in a report on Thursday, March 28th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $4.60.

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.