StockNews.com Upgrades Paramount Group (NYSE:PGRE) to Hold

Paramount Group (NYSE:PGRE - Get Free Report) was upgraded by equities researchers at StockNews.com from a "sell" rating to a "hold" rating in a research note issued to investors on Friday.

Several other brokerages have also commented on PGRE. Morgan Stanley dropped their price objective on Paramount Group from $4.70 to $4.50 and set an "equal weight" rating on the stock in a report on Thursday, March 28th. 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. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Paramount Group presently has an average rating of "Hold" and a consensus target price of $4.60.

Paramount Group Price Performance

Shares of PGRE stock traded up $0.01 during mid-day trading on Friday, hitting $4.81. 971,913 shares of the stock were exchanged, compared to its average volume of 1,262,120. Paramount Group has a 52-week low of $4.06 and a 52-week high of $5.92. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 0.95. The company has a market cap of $1.05 billion, a PE ratio of -4.15, a price-to-earnings-growth ratio of 0.24 and a beta of 1.20. The firm has a fifty day moving average of $4.60 and a 200 day moving average of $4.74.

Institutional Investors Weigh In On Paramount Group

Large investors have recently modified their holdings of the business. Employees Retirement System of Texas purchased a new stake in Paramount Group during the 3rd quarter valued at about $1,155,000. Charles Schwab Investment Management Inc. lifted its position in Paramount Group by 5.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,603,603 shares of the financial services provider's stock worth $21,269,000 after buying an additional 250,210 shares in the last quarter. Ballentine Partners LLC purchased a new position in Paramount Group during the fourth quarter worth approximately $111,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Paramount Group by 11.3% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 198,500 shares of the financial services provider's stock worth $1,026,000 after buying an additional 20,120 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Paramount Group by 46.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 115,554 shares of the financial services provider's stock valued at $597,000 after buying an additional 36,668 shares in the last quarter. Hedge funds and other institutional investors own 65.64% of the company's stock.

Paramount Group Company 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.

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