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 on Thursday . The company traded as high as $6.36 and last traded at $6.34, with a volume of 794426 shares trading hands. The stock had previously closed at $6.20.

Wall Street Analyst Weigh In

PGRE has been the topic of a number of analyst reports. Evercore ISI raised Paramount Group from an "in-line" rating to an "outperform" rating and lifted their price target for the stock from $4.50 to $8.00 in a research note on Tuesday, May 20th. Mizuho decreased their target price 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. Morgan Stanley restated 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 cut shares of Paramount Group from a "hold" rating to a "sell" rating in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company cut their target price on shares of 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $5.19.

Paramount Group Stock Up 2.4%

The business has a fifty day moving average price of $4.84 and a two-hundred day moving average price of $4.70. The company has a current ratio of 4.45, a quick ratio of 4.45 and a debt-to-equity ratio of 0.91. The company has a market cap of $1.42 billion, a price-to-earnings ratio of -6.62 and a beta of 1.32.

Paramount Group (NYSE:PGRE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.17 EPS for the quarter, meeting analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $180.79 million. On average, equities analysts predict that Paramount Group, Inc. will post 0.78 earnings per share for the current year.

Insider Transactions at Paramount Group

In other news, CEO Albert P. Behler bought 10,000 shares of the stock in a transaction on Friday, March 21st. The shares were purchased at an average price of $4.15 per share, for a total transaction of $41,500.00. Following the completion of the purchase, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 13.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Paramount Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Quantinno Capital Management LP increased its holdings in 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 buying an additional 2,845 shares during the last quarter. Metis Global Partners LLC grew its position in Paramount Group by 16.3% in the fourth quarter. Metis Global Partners LLC now owns 20,955 shares of the financial services provider's stock worth $104,000 after acquiring an additional 2,935 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in Paramount Group by 1.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 239,200 shares of the financial services provider's stock worth $1,182,000 after acquiring an additional 3,000 shares in the last quarter. Nebula Research & Development LLC increased its stake in shares of Paramount Group by 7.0% during the 4th quarter. Nebula Research & Development LLC now owns 54,852 shares of the financial services provider's stock worth $271,000 after purchasing an additional 3,611 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Paramount Group by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 105,005 shares of the financial services provider's stock valued at $519,000 after purchasing an additional 3,673 shares in the last quarter. 65.64% of the stock is owned by hedge funds and other 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.