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

Paramount Group, Inc. (NYSE:PGRE - Get Free Report)'s stock price was down 3.7% on Thursday . The company traded as low as $6.45 and last traded at $6.43. Approximately 2,126,356 shares changed hands during trading, an increase of 31% from the average daily volume of 1,622,957 shares. The stock had previously closed at $6.67.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PGRE. Wall Street Zen lowered Paramount Group from a "hold" rating to a "sell" rating in a report on Wednesday, April 23rd. Wells Fargo & Company lowered their price target on Paramount Group from $5.00 to $4.50 and set an "underweight" rating for the company in a report on Monday, May 19th. Mizuho upped 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, July 14th. Morgan Stanley reissued an "underweight" rating and set a $3.25 price objective on shares of Paramount Group in a report on Tuesday, April 15th. Finally, Evercore ISI upgraded Paramount Group from an "in-line" rating to an "outperform" rating and lifted their price objective for the stock from $4.50 to $8.00 in a report on Tuesday, May 20th. Three research analysts have rated the stock with a sell rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $5.44.

Paramount Group Stock Performance

The company has a fifty day moving average price of $6.07 and a 200 day moving average price of $5.02. 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 cap of $1.39 billion, a P/E ratio of -20.40 and a beta of 1.31.

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. The business had revenue of $187.02 million during the quarter, compared to analyst estimates 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 analysts expect that Paramount Group, Inc. will post 0.78 EPS for the current year.

Hedge Funds Weigh In On Paramount Group

Several large investors have recently bought and sold shares of the business. Northern Trust Corp grew its stake in shares of Paramount Group by 40.1% during the 4th quarter. Northern Trust Corp now owns 2,891,068 shares of the financial services provider's stock valued at $14,282,000 after buying an additional 827,187 shares during the period. Vanguard Group Inc. grew its position in Paramount Group by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 26,922,796 shares of the financial services provider's stock worth $132,999,000 after purchasing an additional 477,940 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Paramount Group by 103.3% in the fourth quarter. Two Sigma Advisers LP now owns 742,100 shares of the financial services provider's stock valued at $3,666,000 after acquiring an additional 377,100 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Paramount Group by 58.3% in the 4th quarter. Deutsche Bank AG now owns 960,894 shares of the financial services provider's stock valued at $4,747,000 after acquiring an additional 353,803 shares in the last quarter. Finally, Solel Partners LP acquired a new position in Paramount Group in the 4th quarter valued at approximately $6,719,000. Hedge funds and other 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.