Paramount Group (NYSE:PGRE) Rating Increased to Outperform at Evercore ISI

Evercore ISI upgraded shares of Paramount Group (NYSE:PGRE - Free Report) from an in-line rating to an outperform rating in a research note released on Tuesday, MarketBeat.com reports. Evercore ISI currently has $8.00 target price on the financial services provider's stock, up from their prior target price of $4.50.

A number of other research analysts have also recently issued reports on the stock. 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. Mizuho decreased their price objective on shares of Paramount Group from $6.00 to $5.00 and set an "outperform" rating for the company in a report on Tuesday, February 25th. Wells Fargo & Company decreased their price objective on shares of Paramount Group from $5.00 to $4.50 and set an "underweight" rating for the company in a report on Monday, May 19th. Finally, Wall Street Zen cut shares of Paramount Group from a "hold" rating to a "sell" rating in a report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $5.19.

Paramount Group Price Performance

PGRE stock traded up $0.11 during trading on Tuesday, hitting $5.84. 3,305,034 shares of the stock traded hands, compared to its average volume of 1,371,328. Paramount Group has a one year low of $3.75 and a one year high of $5.87. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of -5.95 and a beta of 1.12. The company has a 50 day simple moving average of $4.46 and a 200 day simple moving average of $4.62. The company has a current ratio of 4.45, a quick ratio of 4.45 and a debt-to-equity ratio of 0.91.

Paramount Group (NYSE:PGRE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $180.79 million. Equities analysts expect that Paramount Group will post 0.78 EPS for the current fiscal year.

Insider Transactions at Paramount Group

In related news, CEO Albert P. Behler acquired 10,000 shares of the company's stock in a transaction dated Friday, March 21st. The shares were bought at an average cost of $4.15 per share, with a total value of $41,500.00. Following the completion of the transaction, the chief executive officer now directly owns 751,812 shares of the company's stock, valued at $3,120,019.80. This trade represents a 1.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 13.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Paramount Group

Large investors have recently bought and sold shares of the company. Jane Street Group LLC boosted its stake in shares of Paramount Group by 146.1% in the 1st quarter. Jane Street Group LLC now owns 219,417 shares of the financial services provider's stock valued at $943,000 after purchasing an additional 130,255 shares in the last quarter. Great Lakes Advisors LLC lifted its position in shares of Paramount Group by 64.5% during the 1st quarter. Great Lakes Advisors LLC now owns 30,512 shares of the financial services provider's stock valued at $131,000 after acquiring an additional 11,964 shares during the period. Nissay Asset Management Corp Japan ADV lifted its position in shares of Paramount Group by 19.5% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 29,360 shares of the financial services provider's stock valued at $126,000 after acquiring an additional 4,790 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Paramount Group by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 109,563 shares of the financial services provider's stock valued at $471,000 after purchasing an additional 4,558 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Paramount Group during the 1st quarter valued at $322,000. 65.64% of the stock is currently owned by institutional investors and hedge funds.

Paramount Group Company Profile

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.