Paramount Group (NYSE:PGRE) Hits New 52-Week High - What's Next?

Key Points

• Paramount Group, Inc. (NYSE: PGRE) reached a new 52-week high of $7.85, closing at $7.29 with over 2.4 million shares traded.
• Research firms have issued mixed ratings, with Mizuho upgrading their target to $6.00 while Wells Fargo reduced theirs to $4.20, reflecting varied expectations for the company's performance.
• Institutional investors hold a significant 65.64% of Paramount Group's stock, with deep buying activity from firms like Long Pond Capital and Balyasny Asset Management, indicating strong interest in the company's potential.

Paramount Group, Inc. (NYSE:PGRE - Get Free Report)'s stock price reached a new 52-week high on Tuesday . The company traded as high as $7.85 and last traded at $7.29, with a volume of 2417645 shares changing hands. The stock had previously closed at $7.09.

Analysts Set New Price Targets

A number of analysts have weighed in on PGRE shares. Wells Fargo & Company raised shares of Paramount Group from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $4.20 to $6.60 in a research report on Thursday. Mizuho increased 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. Finally, BTIG Research reiterated a "neutral" rating on shares of Paramount Group in a research note on Wednesday. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $5.96.

Paramount Group Stock Down 0.5%

The stock has a 50 day moving average of $6.74 and a 200-day moving average of $5.67. The firm has a market capitalization of $1.44 billion, a P/E ratio of -18.14 and a beta of 1.38. The company has a debt-to-equity ratio of 0.90, a quick ratio of 5.91 and a current ratio of 5.91.

Paramount Group (NYSE:PGRE - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.14 by $0.03. Paramount Group had a negative return on equity of 1.92% and a negative net margin of 10.49%.The business had revenue of $177.05 million for the quarter, compared to analysts' expectations of $173.98 million. Paramount Group has set its FY 2025 guidance at 0.550-0.590 EPS. Research analysts predict that Paramount Group, Inc. will post 0.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Paramount Group

Several hedge funds and other institutional investors have recently modified their holdings of PGRE. Ameriprise Financial Inc. increased its position in shares of Paramount Group by 159.7% during the fourth quarter. Ameriprise Financial Inc. now owns 43,239 shares of the financial services provider's stock valued at $214,000 after buying an additional 26,590 shares during the period. BNP Paribas Financial Markets increased its position in shares of Paramount Group by 8.4% during the fourth quarter. BNP Paribas Financial Markets now owns 96,923 shares of the financial services provider's stock valued at $479,000 after buying an additional 7,489 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Paramount Group by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 105,005 shares of the financial services provider's stock valued at $519,000 after buying an additional 3,673 shares during the period. Quantinno Capital Management LP increased its position in shares of Paramount Group by 22.0% in the fourth quarter. Quantinno Capital Management LP now owns 15,771 shares of the financial services provider's stock worth $78,000 after purchasing an additional 2,845 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Paramount Group by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 51,962 shares of the financial services provider's stock worth $257,000 after purchasing an additional 17,097 shares during the last quarter. 65.64% of the stock is currently 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.