Paramount Group (NYSE:PGRE) Sees Strong Trading Volume - Here's Why

Key Points

• Paramount Group saw a significant increase in trading volume with approximately 7.43 million shares traded, representing a 160% increase from the previous session.
• Wall Street analysts have high expectations for the stock, with a consensus price target of $5.61 and ratings ranging from a "Buy" to "Sell."
• In its latest earnings report, Paramount Group posted an EPS of $0.17, exceeding analysts' expectations of $0.14, indicating positive financial performance.

Paramount Group, Inc. (NYSE:PGRE - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 7,434,167 shares changed hands during mid-day trading, an increase of 160% from the previous session's volume of 2,855,833 shares.The stock last traded at $6.53 and had previously closed at $6.54.

Wall Street Analysts Forecast Growth

PGRE has been the topic of a number of analyst reports. Evercore ISI set a $6.60 price target on Paramount Group and gave the stock an "in-line" rating in a research note on Monday, September 22nd. BTIG Research reaffirmed a "neutral" rating on shares of Paramount Group in a research note on Wednesday, September 17th. Mizuho lifted their price target on Paramount Group from $5.00 to $6.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Finally, Wells Fargo & Company raised Paramount Group from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $4.20 to $6.60 in a research note on Thursday, September 18th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $5.61.

Paramount Group Stock Performance

The stock has a market capitalization of $1.44 billion, a PE ratio of -18.15 and a beta of 1.38. The business has a 50 day moving average price of $6.74 and a 200 day moving average price of $5.78. The company has a debt-to-equity ratio of 0.90, a current ratio of 5.91 and a quick ratio of 5.91.

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

Institutional Investors Weigh In On Paramount Group

Several institutional investors have recently modified their holdings of the business. Long Pond Capital LP boosted its position in shares of Paramount Group by 16.8% during the first quarter. Long Pond Capital LP now owns 11,737,433 shares of the financial services provider's stock valued at $50,471,000 after buying an additional 1,684,098 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Paramount Group by 40.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 4,933,121 shares of the financial services provider's stock valued at $30,092,000 after buying an additional 1,419,763 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Paramount Group by 2.2% during the second quarter. Geode Capital Management LLC now owns 4,752,560 shares of the financial services provider's stock valued at $28,994,000 after buying an additional 103,003 shares during the last quarter. Solel Partners LP boosted its position in shares of Paramount Group by 17.3% during the second quarter. Solel Partners LP now owns 4,202,729 shares of the financial services provider's stock valued at $25,637,000 after buying an additional 618,474 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in shares of Paramount Group by 49.3% during the second quarter. Balyasny Asset Management L.P. now owns 3,111,586 shares of the financial services provider's stock valued at $18,981,000 after buying an additional 1,027,484 shares during the last quarter. 65.64% of the stock is owned by hedge funds and other institutional investors.

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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