Headquartered in New York City, Paramount Group, Inc. 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 City 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.
Paramount Group Price Performance
Shares of PGRE Stock opened at $7.87 on Monday. The stock has a 50-day moving average price of $7.52 and a 200 day moving average price of $9.02. The company has a quick ratio of 5.07, a current ratio of 5.07 and a debt-to-equity ratio of 0.86. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 393.70 and a beta of 1.18. Paramount Group has a 12 month low of $6.76 and a 12 month high of $11.53.
Paramount Group Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a $0.078 dividend. This represents a $0.31 dividend on an annualized basis and a yield of 3.96%. This is a positive change from Paramount Group's previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Wednesday, June 29th. Paramount Group's dividend payout ratio (DPR) is presently 1,550.78%.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on PGRE. Deutsche Bank Aktiengesellschaft dropped their price objective on Paramount Group from $12.00 to $10.00 in a research note on Wednesday, July 20th. TheStreet lowered Paramount Group from a "c" rating to a "d+" rating in a research note on Wednesday, July 27th. Mizuho lowered their target price on Paramount Group from $11.00 to $9.00 and set a "buy" rating for the company in a research note on Wednesday, July 6th. Morgan Stanley lowered their target price on Paramount Group from $14.00 to $10.00 and set an "overweight" rating for the company in a research note on Tuesday, July 19th. Finally, Wells Fargo & Company lowered their target price on Paramount Group from $10.00 to $6.00 and set an "underweight" rating for the company in a research note on Friday, July 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $8.75.