Morgan Stanley Lowers Paramount Group (NYSE:PGRE) Price Target to $8.00

Paramount Group (NYSE:PGREGet Rating) had its price target dropped by Morgan Stanley from $10.00 to $8.00 in a note issued to investors on Friday, Marketbeat.com reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price target points to a potential upside of 11.58% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. TheStreet downgraded shares of Paramount Group from a “c” rating to a “d+” rating in a report on Wednesday, July 27th. Mizuho cut their price objective on shares of Paramount Group from $11.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, July 6th. Wells Fargo & Company cut their price objective on shares of Paramount Group from $10.00 to $6.00 and set an “underweight” rating for the company in a report on Friday, July 1st. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Paramount Group from $12.00 to $10.00 in a report on Wednesday, July 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $8.25.

Paramount Group Stock Up 0.3 %

Shares of PGRE opened at $7.17 on Friday. Paramount Group has a 52 week low of $6.76 and a 52 week high of $11.53. The firm has a market cap of $1.62 billion, a P/E ratio of 358.68 and a beta of 1.20. The firm’s 50-day simple moving average is $7.36 and its 200 day simple moving average is $8.76. The company has a debt-to-equity ratio of 0.86, a quick ratio of 5.07 and a current ratio of 5.07.

Institutional Trading of Paramount Group

A number of institutional investors and hedge funds have recently made changes to their positions in PGRE. Harvest Fund Management Co. Ltd bought a new position in Paramount Group in the 2nd quarter valued at approximately $52,000. Xponance Inc. bought a new position in Paramount Group in the 2nd quarter valued at approximately $73,000. Stephens Inc. AR bought a new position in Paramount Group in the 2nd quarter valued at approximately $73,000. Vestmark Advisory Solutions Inc. bought a new position in Paramount Group in the 2nd quarter valued at approximately $73,000. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new position in Paramount Group in the 4th quarter valued at approximately $76,000. Institutional investors own 59.20% of the company’s stock.

Paramount Group Company Profile

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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.

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