Paramount Group, Inc. (NYSE:PGRE) Given Consensus Recommendation of "Reduce" by Brokerages

Key Points

• Paramount Group, Inc. has received a consensus recommendation of "Reduce" from six brokerages, with two analysts advising a sell and one a buy.
• The average twelve-month target price for the stock is $5.6125, while the company's current share price is approximately $6.54.
• Recent institutional activities indicate significant changes, with 65.64% of the company's stock owned by hedge funds and institutional investors, highlighting their increasing confidence in Paramount Group.

Paramount Group, Inc. (NYSE:PGRE - Get Free Report) has earned a consensus recommendation of "Reduce" from the six ratings firms that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $5.6125.

PGRE has been the subject of a number of research analyst reports. BTIG Research restated a "neutral" rating on shares of Paramount Group in a research note on Wednesday, September 17th. Weiss Ratings restated a "sell (d-)" rating on shares of Paramount Group in a research note on Wednesday. Mizuho lifted their target price on Paramount Group from $5.00 to $6.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Evercore ISI set a $6.60 price target on shares of Paramount Group and gave the stock an "in-line" rating in a report on Monday, September 22nd. Finally, Wells Fargo & Company upgraded shares of Paramount Group from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $4.20 to $6.60 in a research note on Thursday, September 18th.

Paramount Group Price Performance

NYSE:PGRE opened at $6.54 on Friday. The company has a market cap of $1.44 billion, a PE ratio of -18.17 and a beta of 1.37. Paramount Group has a twelve month low of $3.75 and a twelve month high of $7.85. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 0.90. The company's 50 day moving average is $6.79 and its two-hundred day moving average is $5.91.

Paramount Group (NYSE:PGRE - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.03. The business had revenue of $177.05 million during the quarter, compared to analysts' expectations of $173.98 million. Paramount Group had a negative net margin of 10.49% and a negative return on equity of 1.92%. Paramount Group has set its FY 2025 guidance at 0.550-0.590 EPS. Analysts anticipate that Paramount Group will post 0.78 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC raised its position in shares of Paramount Group by 101.0% in the second quarter. Signaturefd LLC now owns 8,291 shares of the financial services provider's stock worth $51,000 after acquiring an additional 4,167 shares during the period. Manchester Capital Management LLC raised its holdings in Paramount Group by 99.2% in the 1st quarter. Manchester Capital Management LLC now owns 8,864 shares of the financial services provider's stock worth $38,000 after purchasing an additional 4,415 shares during the period. Truist Financial Corp purchased a new position in Paramount Group during the second quarter worth approximately $67,000. Wolverine Asset Management LLC grew its holdings in Paramount Group by 86.6% in the first quarter. Wolverine Asset Management LLC now owns 12,195 shares of the financial services provider's stock valued at $52,000 after purchasing an additional 5,659 shares during the period. Finally, Ethic Inc. purchased a new stake in shares of Paramount Group in the second quarter valued at approximately $76,000. Hedge funds and other institutional investors own 65.64% of the company's stock.

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.

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