Paramount Group, Inc. (NYSE:PGRE) Sees Large Increase in Short Interest

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

Paramount Group Stock Performance

NYSE:PGRE traded up $0.12 during mid-day trading on Wednesday, hitting $4.74. 232,941 shares of the company's stock traded hands, compared to its average volume of 1,233,945. Paramount Group has a 12 month low of $3.75 and a 12 month high of $5.47. The company has a current ratio of 4.45, a quick ratio of 4.45 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of -4.82 and a beta of 1.12. The firm has a 50 day moving average of $4.24 and a two-hundred day moving average of $4.62.

Paramount Group (NYSE:PGRE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $0.17 earnings per share for the quarter, hitting analysts' consensus estimates of $0.17. The firm had revenue of $187.02 million for the quarter, compared to the consensus estimate 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, equities analysts forecast that Paramount Group will post 0.78 earnings per share for the current fiscal year.

Insider Transactions at Paramount Group

In other news, CEO Albert P. Behler purchased 10,000 shares of Paramount Group stock in a transaction dated Friday, March 21st. The stock was bought at an average price of $4.15 per share, with a total value of $41,500.00. Following the completion of the acquisition, the chief executive officer now 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.80% of the company's stock.

Institutional Trading of Paramount Group

Several institutional investors have recently bought and sold shares of PGRE. Cohen & Steers Inc. bought a new position in shares of Paramount Group in the fourth quarter valued at approximately $9,231,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Paramount Group during the first quarter worth approximately $6,164,000. Solel Partners LP bought a new stake in shares of Paramount Group during the 4th quarter valued at $6,719,000. Long Pond Capital LP boosted its holdings in Paramount Group by 12.5% during the fourth quarter. Long Pond Capital LP now owns 10,053,335 shares of the financial services provider's stock worth $49,663,000 after buying an additional 1,116,395 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Paramount Group by 40.1% during the fourth quarter. Northern Trust Corp now owns 2,891,068 shares of the financial services provider's stock valued at $14,282,000 after purchasing an additional 827,187 shares during the period. Institutional investors and hedge funds own 65.64% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on PGRE shares. Mizuho dropped their price target on shares of Paramount Group from $6.00 to $5.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 25th. StockNews.com downgraded shares of Paramount Group from a "hold" rating to a "sell" rating in a research report on Wednesday, April 23rd. Finally, Morgan Stanley reaffirmed an "underweight" rating and issued a $3.25 price objective on shares of Paramount Group in a research note on Tuesday, April 15th.

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.