Paramount Group (NYSE:PGRE) Hits New 52-Week High - Still a Buy?

Paramount Group, Inc. (NYSE:PGRE - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $6.62 and last traded at $6.59, with a volume of 1117299 shares changing hands. The stock had previously closed at $6.34.

Analyst Ratings Changes

PGRE has been the subject of a number of recent research reports. Evercore ISI upgraded Paramount Group from an "in-line" rating to an "outperform" rating and increased their price objective for the company from $4.50 to $8.00 in a research report on Tuesday, May 20th. Wall Street Zen lowered Paramount Group from a "hold" rating to a "sell" rating in a research report on Wednesday, April 23rd. Morgan Stanley restated an "underweight" rating and set a $3.25 price objective on shares of Paramount Group in a report on Tuesday, April 15th. Finally, Wells Fargo & Company reduced their price objective 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. Three research analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $5.19.

Paramount Group Price Performance

The company has a market cap of $1.45 billion, a PE ratio of -21.21 and a beta of 1.31. The stock has a fifty day moving average price of $5.79 and a 200-day moving average price of $4.93. The company has a debt-to-equity ratio of 0.90, a current ratio of 5.56 and a quick ratio of 5.56.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Sterling Capital Management LLC grew its position in Paramount Group by 806.3% in the 4th quarter. Sterling Capital Management LLC now owns 5,909 shares of the financial services provider's stock worth $29,000 after purchasing an additional 5,257 shares during the last quarter. Manchester Capital Management LLC grew its position in Paramount Group by 99.2% during the first quarter. Manchester Capital Management LLC now owns 8,864 shares of the financial services provider's stock worth $38,000 after buying an additional 4,415 shares in the last quarter. Gotham Asset Management LLC bought a new position in Paramount Group during the fourth quarter valued at about $52,000. Wolverine Asset Management LLC raised its holdings in Paramount Group by 86.6% in the 1st quarter. Wolverine Asset Management LLC now owns 12,195 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 5,659 shares in the last quarter. Finally, Commerce Bank acquired a new position in Paramount Group in the 4th quarter valued at approximately $54,000. 65.64% of the stock is owned by institutional investors and hedge funds.

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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