Paramount Group (NYSE:PGRE) Sees Unusually-High Trading Volume - Time to Buy?

Paramount Group, Inc. (NYSE:PGRE - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 5,952,068 shares changed hands during mid-day trading, an increase of 311% from the previous session's volume of 1,448,698 shares.The stock last traded at $6.14 and had previously closed at $6.25.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Evercore ISI upgraded shares of Paramount Group from an "in-line" rating to an "outperform" rating and raised their price objective for the company from $4.50 to $8.00 in a research report on Tuesday, May 20th. Wells Fargo & Company cut their price target on shares of Paramount Group from $5.00 to $4.50 and set an "underweight" rating for the company in a report on Monday, May 19th. Morgan Stanley reaffirmed an "underweight" rating and issued a $3.25 price target on shares of Paramount Group in a report on Tuesday, April 15th. Mizuho decreased their target price on Paramount Group from $6.00 to $5.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 25th. Finally, Wall Street Zen downgraded Paramount Group from a "hold" rating to a "sell" rating in a research report on Wednesday, April 23rd. Three analysts have rated the stock with a sell rating and two have assigned a buy rating to the company. According to data from MarketBeat, Paramount Group has a consensus rating of "Hold" and an average target price of $5.19.

Paramount Group Stock Performance

The stock has a market cap of $1.35 billion, a PE ratio of -19.89 and a beta of 1.32. The company has a debt-to-equity ratio of 0.90, a quick ratio of 5.56 and a current ratio of 5.56. The company's 50-day moving average price is $5.40 and its two-hundred day moving average price is $4.84.

Paramount Group (NYSE:PGRE - Get Free Report) last posted its quarterly earnings data 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 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, equities research analysts forecast that Paramount Group, Inc. will post 0.78 EPS for the current year.

Hedge Funds Weigh In On Paramount Group

Several institutional investors and hedge funds have recently made changes to their positions in PGRE. Rhumbline Advisers boosted its position in Paramount Group by 2.3% during the fourth quarter. Rhumbline Advisers now owns 340,672 shares of the financial services provider's stock valued at $1,683,000 after buying an additional 7,574 shares during the period. Proficio Capital Partners LLC purchased a new stake in Paramount Group during the 4th quarter valued at about $106,000. US Bancorp DE grew its position in Paramount Group by 33.9% during the 4th quarter. US Bancorp DE now owns 14,656 shares of the financial services provider's stock worth $72,000 after acquiring an additional 3,708 shares during the last quarter. Metis Global Partners LLC increased its stake in Paramount Group by 16.3% in the 4th quarter. Metis Global Partners LLC now owns 20,955 shares of the financial services provider's stock worth $104,000 after purchasing an additional 2,935 shares during the period. Finally, Inspire Advisors LLC bought a new stake in Paramount Group in the fourth quarter valued at approximately $130,000. 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.

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