Paramount Group, Inc. (NYSE:PGRE - Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $6.60 and last traded at $6.59, with a volume of 965934 shares trading hands. The stock had previously closed at $6.45.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on PGRE shares. Wall Street Zen lowered Paramount Group from a "hold" rating to a "sell" rating in a report on Wednesday, April 23rd. Mizuho dropped their price objective on shares of Paramount Group from $6.00 to $5.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 25th. Wells Fargo & Company cut their target price on shares of Paramount Group from $5.00 to $4.50 and set an "underweight" rating for the company in a research note on Monday, May 19th. Evercore ISI upgraded shares of Paramount Group from an "in-line" rating to an "outperform" rating and upped their price target for the company from $4.50 to $8.00 in a research note on Tuesday, May 20th. Finally, Morgan Stanley restated an "underweight" rating and set a $3.25 price objective on shares of Paramount Group in a research report on Tuesday, April 15th. Three research analysts have rated the stock with a sell rating and two have given a buy rating to the company's stock. According to MarketBeat, Paramount Group has a consensus rating of "Hold" and a consensus price target of $5.19.
Check Out Our Latest Report on PGRE
Paramount Group Price Performance
The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -6.69 and a beta of 1.32. The company's 50 day moving average is $5.03 and its 200 day moving average is $4.75. The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.91.
Paramount Group (NYSE:PGRE - Get Free Report) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.17. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. The firm had revenue of $187.02 million for the quarter, compared to analyst estimates of $180.79 million. On average, equities research analysts anticipate that Paramount Group, Inc. will post 0.78 earnings per share for the current fiscal year.
Insider Buying and Selling at Paramount Group
In other news, CEO Albert P. Behler bought 10,000 shares of the company's stock in a transaction dated Friday, March 21st. The stock was bought at an average cost of $4.15 per share, for a total transaction of $41,500.00. Following the transaction, the chief executive officer now owns 751,812 shares of the company's stock, valued at $3,120,019.80. This represents a 1.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 13.80% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. Sterling Capital Management LLC lifted its position in shares of Paramount Group by 806.3% during the 4th quarter. Sterling Capital Management LLC now owns 5,909 shares of the financial services provider's stock worth $29,000 after buying an additional 5,257 shares during the last quarter. Manchester Capital Management LLC lifted its holdings in shares of Paramount Group by 99.2% in the first quarter. Manchester Capital Management LLC now owns 8,864 shares of the financial services provider's stock worth $38,000 after acquiring an additional 4,415 shares during the last quarter. Gotham Asset Management LLC acquired a new stake in shares of Paramount Group in the 4th quarter valued at approximately $52,000. Wolverine Asset Management LLC grew its holdings in shares of Paramount Group by 86.6% during the 1st 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 last quarter. Finally, Commerce Bank bought a new stake in shares of Paramount Group during the 4th quarter valued at approximately $54,000. 65.64% of the stock is owned by institutional investors.
About Paramount Group
(
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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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