Paramount Group (NYSE:PGRE) Trading Down 3.7% - Here's Why

Paramount Group, Inc. (NYSE:PGRE - Get Free Report) shares fell 3.7% during mid-day trading on Thursday . The stock traded as low as $6.45 and last traded at $6.43. 2,126,356 shares were traded during trading, an increase of 31% from the average session volume of 1,622,957 shares. The stock had previously closed at $6.67.

Analysts Set New Price Targets

A number of research firms have recently commented on PGRE. Evercore ISI upgraded Paramount Group from an "in-line" rating to an "outperform" rating and increased their target price for the company from $4.50 to $8.00 in a research report on Tuesday, May 20th. Wells Fargo & Company lowered their target price 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. Mizuho increased their target price on Paramount Group from $5.00 to $6.00 and gave the company an "outperform" rating in a research report on Monday. Morgan Stanley restated an "underweight" rating and issued a $3.25 price target on shares of Paramount Group in a research report on Tuesday, April 15th. 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 issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $5.44.

Paramount Group Stock Performance

The company has a debt-to-equity ratio of 0.90, a current ratio of 5.56 and a quick ratio of 5.56. The stock has a market capitalization of $1.40 billion, a PE ratio of -20.63 and a beta of 1.31. The stock has a 50 day moving average of $6.04 and a two-hundred day moving average of $5.01.

Paramount Group (NYSE:PGRE - Get Free Report) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $0.17 EPS for the quarter, hitting analysts' consensus estimates of $0.17. Paramount Group had a negative return on equity of 1.63% and a negative net margin of 8.76%. The company had revenue of $187.02 million for the quarter, compared to the consensus estimate of $180.79 million. Research analysts expect that Paramount Group, Inc. will post 0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Cibc World Markets Corp bought a new stake in shares of Paramount Group in the 4th quarter worth approximately $85,000. Xponance Inc. lifted its holdings in shares of Paramount Group by 54.8% in the 4th quarter. Xponance Inc. now owns 18,519 shares of the financial services provider's stock worth $91,000 after purchasing an additional 6,554 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Paramount Group by 84.1% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 59,664 shares of the financial services provider's stock worth $295,000 after purchasing an additional 27,256 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Paramount Group in the 4th quarter valued at approximately $110,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Paramount Group in the 4th quarter valued at approximately $201,000. Institutional investors own 65.64% of the company's stock.

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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