Short Interest in Paramount Group, Inc. (NYSE:PGRE) Expands By 29.8%

Paramount Group, Inc. (NYSE:PGRE - Get Free Report) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 5,840,000 shares, an increase of 29.8% from the March 31st total of 4,500,000 shares. Approximately 3.2% of the shares of the company are sold short. Based on an average trading volume of 1,780,000 shares, the short-interest ratio is presently 3.3 days.

Paramount Group Stock Performance

Shares of PGRE opened at $4.61 on Friday. The firm has a 50-day moving average price of $4.24 and a 200 day moving average price of $4.64. The firm has a market capitalization of $1.01 billion, a PE ratio of -4.70 and a beta of 1.12. The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.91. Paramount Group has a 52-week low of $3.75 and a 52-week high of $5.47.

Paramount Group (NYSE:PGRE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. The company had revenue of $187.02 million for the quarter, compared to analysts' expectations of $180.79 million. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. On average, sell-side analysts anticipate that Paramount Group will post 0.78 earnings per share for the current fiscal year.

Insider Activity at Paramount Group

In other news, CEO Albert P. Behler purchased 10,000 shares of the company's stock in a transaction dated Friday, March 21st. The shares were acquired at an average cost of $4.15 per share, for a total transaction of $41,500.00. Following the completion of the purchase, the chief executive officer now directly owns 751,812 shares in the company, valued at $3,120,019.80. The trade was a 1.35 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in shares of Paramount Group by 21.4% in the third quarter. JPMorgan Chase & Co. now owns 2,517,829 shares of the financial services provider's stock worth $12,388,000 after buying an additional 443,777 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Paramount Group by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 26,922,796 shares of the financial services provider's stock worth $132,999,000 after buying an additional 477,940 shares during the period. Franklin Resources Inc. acquired a new position in shares of Paramount Group in the third quarter worth about $643,000. Barclays PLC boosted its holdings in shares of Paramount Group by 95.5% during the third quarter. Barclays PLC now owns 455,700 shares of the financial services provider's stock worth $2,242,000 after purchasing an additional 222,656 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Paramount Group by 11.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,895,573 shares of the financial services provider's stock worth $14,304,000 after purchasing an additional 292,392 shares during the period. 65.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PGRE has been the topic of a number of recent research reports. StockNews.com lowered shares of Paramount Group from a "hold" rating to a "sell" rating in a report on Wednesday, April 23rd. Morgan Stanley reiterated an "underweight" rating and set a $3.25 target price on shares of Paramount Group in a research note on Tuesday, April 15th. Finally, Mizuho lowered their price target on shares of Paramount Group from $6.00 to $5.00 and set an "outperform" rating for the company in a research report on Tuesday, February 25th.

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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