Paramount Group (NYSE:PGRE) Reaches New 1-Year High - Should You Buy?

Paramount Group, Inc. (NYSE:PGRE - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $6.10 and last traded at $6.07, with a volume of 878402 shares traded. The stock had previously closed at $5.82.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PGRE shares. Wall Street Zen downgraded shares of Paramount Group from a "hold" rating to a "sell" rating in a research report on Wednesday, April 23rd. Evercore ISI upgraded shares of Paramount Group from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $4.50 to $8.00 in a research note on Tuesday, May 20th. Morgan Stanley reaffirmed an "underweight" rating and set a $3.25 price objective on shares of Paramount Group in a report on Tuesday, April 15th. Wells Fargo & Company reduced their price target on shares of Paramount Group from $5.00 to $4.50 and set an "underweight" rating on the stock in a report on Monday, May 19th. Finally, Mizuho cut their price objective on shares of Paramount Group from $6.00 to $5.00 and set an "outperform" rating for the company in a research report on Tuesday, February 25th. Three investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $5.19.

Paramount Group Stock Performance

The stock has a market cap of $1.34 billion, a P/E ratio of -6.22 and a beta of 1.12. The firm's 50-day moving average is $4.49 and its two-hundred day moving average is $4.62. 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 posted 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. The business had revenue of $187.02 million for the quarter, compared to analyst estimates of $180.79 million. Paramount Group had a negative return on equity of 5.26% and a negative net margin of 27.92%. As a group, research analysts expect that Paramount Group, Inc. will post 0.78 EPS for the current year.

Insider Activity

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Northern Trust Corp grew its position 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 valued at $14,282,000 after purchasing an additional 827,187 shares during the period. Vanguard Group Inc. increased its holdings in Paramount Group by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 26,922,796 shares of the financial services provider's stock worth $132,999,000 after purchasing an additional 477,940 shares in the last quarter. Barclays PLC boosted its position in shares of Paramount Group by 95.5% during the third quarter. Barclays PLC now owns 455,700 shares of the financial services provider's stock worth $2,242,000 after buying an additional 222,656 shares during the period. Deutsche Bank AG boosted its position in shares of Paramount Group by 58.3% during the fourth quarter. Deutsche Bank AG now owns 960,894 shares of the financial services provider's stock worth $4,747,000 after buying an additional 353,803 shares during the period. Finally, Solel Partners LP acquired a new position in Paramount Group during the fourth quarter worth $6,719,000. Institutional investors own 65.64% of the company's stock.

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.

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