Paramount Group, Inc. (NYSE:PGRE - Get Free Report)'s share price hit a new 52-week high during trading on Thursday . The company traded as high as $6.62 and last traded at $6.59, with a volume of 1117299 shares trading hands. The stock had previously closed at $6.34.
Analyst Ratings Changes
PGRE has been the subject of a number of research analyst reports. Evercore ISI raised Paramount Group from an "in-line" rating to an "outperform" rating and boosted their target price 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 report on Wednesday, April 23rd. Wells Fargo & Company decreased their price objective on Paramount Group from $5.00 to $4.50 and set an "underweight" rating for the company in a report on Monday, May 19th. Finally, Morgan Stanley reissued an "underweight" rating and set a $3.25 price objective on shares of Paramount Group in a report on Tuesday, April 15th. Three investment analysts have rated the stock with a sell rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $5.19.
Read Our Latest Research Report on Paramount Group
Paramount Group Price Performance
The company has a current ratio of 5.56, a quick ratio of 5.56 and a debt-to-equity ratio of 0.90. The business has a fifty day simple moving average of $5.87 and a 200 day simple moving average of $4.96. The stock has a market capitalization of $1.45 billion, a P/E ratio of -21.29 and a beta of 1.31.
Paramount Group (NYSE:PGRE - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.17 EPS for the quarter, hitting analysts' consensus estimates of $0.17. Paramount Group had a negative return on equity of 1.63% and a negative net margin of 8.76%. The firm had revenue of $187.02 million during the quarter, compared to analyst estimates of $180.79 million. On average, analysts expect that Paramount Group, Inc. will post 0.78 earnings per share for the current year.
Hedge Funds Weigh In On Paramount Group
Hedge funds and other institutional investors have recently modified their holdings of the business. Northern Trust Corp boosted its stake in shares of Paramount Group by 40.1% in the 4th quarter. Northern Trust Corp now owns 2,891,068 shares of the financial services provider's stock worth $14,282,000 after buying an additional 827,187 shares during the last quarter. Vanguard Group Inc. boosted its stake 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 buying an additional 477,940 shares during the last quarter. Two Sigma Advisers LP boosted its stake in shares of Paramount Group by 103.3% in the 4th quarter. Two Sigma Advisers LP now owns 742,100 shares of the financial services provider's stock worth $3,666,000 after buying an additional 377,100 shares during the last quarter. Deutsche Bank AG lifted its stake in Paramount Group by 58.3% in the fourth quarter. Deutsche Bank AG now owns 960,894 shares of the financial services provider's stock valued at $4,747,000 after purchasing an additional 353,803 shares during the last quarter. Finally, Solel Partners LP purchased a new position in Paramount Group in the fourth quarter valued at approximately $6,719,000. Hedge funds and other institutional investors own 65.64% of the company's stock.
About Paramount Group
(
Get Free Report)
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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