Paramount Group (NYSE:PGRE) Reaches New 52-Week High - Should You Buy?

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

Analyst Ratings Changes

PGRE has been the subject of a number of analyst reports. Evercore ISI upgraded Paramount Group from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $4.50 to $8.00 in a research report on Tuesday, May 20th. Wells Fargo & Company reduced their price target on Paramount Group from $5.00 to $4.50 and set an "underweight" rating for the company in a research report on Monday, May 19th. Morgan Stanley reiterated an "underweight" rating and set a $3.25 price target on shares of Paramount Group in a research 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. Finally, Mizuho boosted their price target on Paramount Group from $5.00 to $6.00 and gave the stock an "outperform" rating in a research report on Monday. Three equities research analysts have rated the stock with a sell rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $5.44.

Paramount Group Stock Down 0.2%

The business has a 50-day moving average price of $6.07 and a 200-day moving average price of $5.02. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of -20.52 and a beta of 1.31. The company has a quick ratio of 5.56, a current ratio of 5.56 and a debt-to-equity ratio of 0.90.

Paramount Group (NYSE:PGRE - Get Free Report) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.17. The company 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 1.63% and a negative net margin of 8.76%. As a group, equities analysts anticipate that Paramount Group, Inc. will post 0.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Sterling Capital Management LLC raised its position in Paramount Group by 806.3% during the fourth quarter. Sterling Capital Management LLC now owns 5,909 shares of the financial services provider's stock valued at $29,000 after buying an additional 5,257 shares during the period. Manchester Capital Management LLC increased its position in Paramount Group by 99.2% in the 1st quarter. Manchester Capital Management LLC now owns 8,864 shares of the financial services provider's stock worth $38,000 after purchasing an additional 4,415 shares during the last quarter. Signaturefd LLC increased its position in Paramount Group by 101.0% in the 2nd quarter. Signaturefd LLC now owns 8,291 shares of the financial services provider's stock worth $51,000 after purchasing an additional 4,167 shares during the last quarter. Gotham Asset Management LLC acquired a new position in Paramount Group in the 4th quarter worth about $52,000. Finally, Wolverine Asset Management LLC increased its position in Paramount Group by 86.6% in the 1st quarter. Wolverine Asset Management LLC now owns 12,195 shares of the financial services provider's stock worth $52,000 after purchasing an additional 5,659 shares during the last quarter. 65.64% of the stock is 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.