Mizuho Increases Paramount Group (NYSE:PGRE) Price Target to $6.00

Paramount Group (NYSE:PGRE - Free Report) had its target price raised by Mizuho from $5.00 to $6.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an outperform rating on the financial services provider's stock.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company cut their target price on shares of Paramount Group from $5.00 to $4.50 and set an "underweight" rating on the stock in a research note on Monday, May 19th. Morgan Stanley restated an "underweight" rating and set a $3.25 price objective on shares of Paramount Group in a research note on Tuesday, April 15th. Evercore ISI raised Paramount Group from an "in-line" rating to an "outperform" rating and increased their target price for the stock from $4.50 to $8.00 in a report on Tuesday, May 20th. Finally, Wall Street Zen downgraded Paramount Group from a "hold" rating to a "sell" rating in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating and two have given a buy rating to the company. Based on data from MarketBeat, Paramount Group currently has a consensus rating of "Hold" and an average price target of $5.44.

Paramount Group Stock Down 1.8%

PGRE stock traded down $0.12 during midday trading on Monday, hitting $6.67. 3,230,909 shares of the company's stock were exchanged, compared to its average volume of 2,220,199. The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.90. Paramount Group has a 12-month low of $3.75 and a 12-month high of $6.89. The firm has a 50 day moving average price of $5.96 and a 200-day moving average price of $4.98. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -21.51 and a beta of 1.31.

Paramount Group (NYSE:PGRE - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.17 earnings per share for the quarter, hitting analysts' consensus estimates of $0.17. The business had revenue of $187.02 million during the quarter, compared to the consensus estimate of $180.79 million. Paramount Group had a negative net margin of 8.76% and a negative return on equity of 1.63%. On average, analysts anticipate that Paramount Group will post 0.78 EPS for the current year.

Hedge Funds Weigh In On Paramount Group

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Paramount Group by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 26,922,796 shares of the financial services provider's stock worth $132,999,000 after purchasing an additional 477,940 shares during the last quarter. Long Pond Capital LP lifted its stake in Paramount Group by 16.8% in the first quarter. Long Pond Capital LP now owns 11,737,433 shares of the financial services provider's stock valued at $50,471,000 after buying an additional 1,684,098 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Paramount Group by 2.9% during the fourth quarter. Legal & General Group Plc now owns 4,860,475 shares of the financial services provider's stock valued at $24,011,000 after acquiring an additional 135,654 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Paramount Group by 11.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,895,573 shares of the financial services provider's stock valued at $14,304,000 after acquiring an additional 292,392 shares during the period. Finally, Northern Trust Corp grew its position in shares of Paramount Group by 40.1% during the fourth quarter. Northern Trust Corp now owns 2,891,068 shares of the financial services provider's stock worth $14,282,000 after acquiring an additional 827,187 shares during the last quarter. 65.64% of the stock is 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. 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.