Paramount Group (NYSE:PGRE) Hits New 1-Year High - Time to Buy?

Paramount Group, Inc. (NYSE:PGRE - Get Free Report) shares reached a new 52-week high on Wednesday . The stock traded as high as $6.89 and last traded at $6.81, with a volume of 4085755 shares traded. The stock had previously closed at $6.86.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Evercore ISI raised shares of Paramount Group from an "in-line" rating to an "outperform" rating and raised their price objective for the stock from $4.50 to $8.00 in a research note on Tuesday, May 20th. Morgan Stanley reiterated an "underweight" rating and set a $3.25 price target on shares of Paramount Group in a report on Tuesday, April 15th. Wall Street Zen lowered Paramount Group from a "hold" rating to a "sell" rating in a research report on Wednesday, April 23rd. Mizuho raised their price objective on Paramount Group from $5.00 to $6.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. Finally, Wells Fargo & Company lowered their target price on Paramount Group from $5.00 to $4.50 and set an "underweight" rating on the stock in a research note on Monday, May 19th. Three research 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 stock currently has an average rating of "Hold" and a consensus target price of $5.44.

Paramount Group Stock Performance

The firm's 50 day moving average price is $6.07 and its 200-day moving average price is $5.02. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of -20.52 and a beta of 1.31. 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 posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. The firm had revenue of $187.02 million during the quarter, compared to analysts' expectations of $180.79 million. Paramount Group had a negative return on equity of 1.63% and a negative net margin of 8.76%. On average, analysts anticipate that Paramount Group, Inc. will post 0.78 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Sterling Capital Management LLC increased 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 valued at $29,000 after acquiring an additional 5,257 shares in the last quarter. Manchester Capital Management LLC lifted its stake in shares of 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 valued at $38,000 after acquiring an additional 4,415 shares during the period. Signaturefd LLC boosted its holdings in Paramount Group by 101.0% in the second quarter. Signaturefd LLC now owns 8,291 shares of the financial services provider's stock valued at $51,000 after acquiring an additional 4,167 shares during the last quarter. Gotham Asset Management LLC acquired a new stake in shares of Paramount Group during the 4th quarter worth approximately $52,000. Finally, Wolverine Asset Management LLC boosted its stake in Paramount Group by 86.6% in the first 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 during the last quarter. 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.