Paramount Group, Inc. (NYSE:PGRE) Sees Significant Decline in Short Interest

Key Points

• Paramount Group, Inc. experienced a 40.0% decline in short interest in September, bringing the total to 3,950,000 shares, which is 2.1% of the company's shares sold short.
• Institutional investors and hedge funds own 65.64% of Paramount Group's stock, with significant purchases and increases in holdings by firms such as Rush Island Management LP and Arrowstreet Capital.
• The company's stock is currently priced at $6.54 with a market capitalization of $1.44 billion, while analysts predict it will post 0.78 EPS for the current fiscal year.

Paramount Group, Inc. (NYSE:PGRE - Get Free Report) was the recipient of a large decrease in short interest in September. As of September 30th, there was short interest totaling 3,950,000 shares, a decrease of 40.0% from the September 15th total of 6,580,000 shares. Currently, 2.1% of the company's shares are sold short. Based on an average daily trading volume, of 4,340,000 shares, the short-interest ratio is presently 0.9 days. Based on an average daily trading volume, of 4,340,000 shares, the short-interest ratio is presently 0.9 days. Currently, 2.1% of the company's shares are sold short.

Institutional Trading of Paramount Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Rush Island Management LP purchased a new position in shares of Paramount Group during the second quarter valued at approximately $12,295,000. Long Pond Capital LP lifted its stake in Paramount Group by 16.8% during the 1st quarter. Long Pond Capital LP now owns 11,737,433 shares of the financial services provider's stock valued at $50,471,000 after acquiring an additional 1,684,098 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Paramount Group during the 1st quarter worth $6,164,000. Arrowstreet Capital Limited Partnership boosted its holdings in Paramount Group by 40.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,933,121 shares of the financial services provider's stock worth $30,092,000 after acquiring an additional 1,419,763 shares during the last quarter. Finally, Nuveen LLC bought a new stake in shares of Paramount Group in the 1st quarter worth $6,096,000. 65.64% of the stock is owned by hedge funds and other institutional investors.

Paramount Group Stock Down 0.1%

Paramount Group stock opened at $6.54 on Tuesday. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -18.15 and a beta of 1.37. The firm's fifty day moving average price is $6.80 and its two-hundred day moving average price is $6.02. Paramount Group has a 1-year low of $3.75 and a 1-year 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.

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

Analysts Set New Price Targets

PGRE has been the topic of a number of research reports. Mizuho boosted their target price on shares of Paramount Group from $5.00 to $6.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Evercore ISI set a $6.60 price target on shares of Paramount Group and gave the company an "in-line" rating in a research note on Monday, September 22nd. BTIG Research reissued a "neutral" rating on shares of Paramount Group in a research report on Wednesday, September 17th. Wells Fargo & Company upgraded Paramount Group from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $4.20 to $6.60 in a research note on Thursday, September 18th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Paramount Group in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Paramount Group presently has a consensus rating of "Reduce" and a consensus target price of $5.61.

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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