Paramount Group (NYSE:PGRE) Reaches New 12-Month High - Should You Buy?

Key Points

• Paramount Group's stock reached a new 52-week high at $7.26 during trading on Tuesday, with an average trading price of $7.11.
• Analyst ratings for the stock are mixed, with two analysts rating it as a Buy, while others have issued Sell ratings, resulting in an average rating of "Hold" and a consensus price target of $5.36.
• The company reported earnings per share of $0.17 for the last quarter, exceeding the consensus estimate and setting its FY 2025 guidance in the range of 0.550-0.590 EPS.

Shares of Paramount Group, Inc. (NYSE:PGRE - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $7.26 and last traded at $7.11, with a volume of 2418617 shares. The stock had previously closed at $7.07.

Analyst Ratings Changes

PGRE has been the topic of a number of recent analyst reports. Mizuho upped 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, July 14th. Evercore ISI raised Paramount Group from an "in-line" rating to an "outperform" rating and upped their target price for the company from $4.50 to $8.00 in a research report on Tuesday, May 20th. Finally, Wells Fargo & Company cut their target price on Paramount Group from $4.50 to $4.20 and set an "underweight" rating on the stock in a research report on Wednesday, August 27th. Two research analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $5.36.

Paramount Group Price Performance

The firm has a 50-day simple moving average of $6.48 and a two-hundred day simple moving average of $5.42. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -19.93 and a beta of 1.38. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 0.90.

Paramount Group (NYSE:PGRE - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03. The company had revenue of $177.05 million for the quarter, compared to the consensus estimate of $173.98 million. Paramount Group had a negative return on equity of 1.92% and a negative net margin of 10.49%. Paramount Group has set its FY 2025 guidance at 0.550-0.590 EPS. As a group, analysts predict that Paramount Group, Inc. will post 0.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Paramount Group

Several hedge funds have recently modified their holdings of the company. Squarepoint Ops LLC boosted its stake in shares of Paramount Group by 235.9% during the 2nd quarter. Squarepoint Ops LLC now owns 217,391 shares of the financial services provider's stock worth $1,326,000 after acquiring an additional 152,663 shares in the last quarter. State of Wyoming boosted its stake in shares of Paramount Group by 195.5% during the 2nd quarter. State of Wyoming now owns 71,000 shares of the financial services provider's stock worth $433,000 after acquiring an additional 46,974 shares in the last quarter. Hudson Bay Capital Management LP purchased a new stake in shares of Paramount Group during the 2nd quarter worth about $6,109,000. Headlands Technologies LLC purchased a new stake in shares of Paramount Group during the 2nd quarter worth about $164,000. Finally, CANADA LIFE ASSURANCE Co boosted its stake in shares of Paramount Group by 14.6% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 285,652 shares of the financial services provider's stock worth $1,741,000 after acquiring an additional 36,312 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.

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