Paramount Group (NYSE:PGRE) Rating Lowered to Equal Weight at Morgan Stanley

Paramount Group (NYSE:PGREGet Rating) was downgraded by research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued on Wednesday, MarketBeat Ratings reports. They currently have a $6.50 price objective on the financial services provider’s stock, down from their prior price objective of $8.00. Morgan Stanley’s price objective would suggest a potential upside of 3.83% from the company’s current price.

PGRE has been the topic of a number of other reports. Evercore ISI lowered Paramount Group from an “in-line” rating to an “underperform” rating and decreased their price target for the stock from $8.00 to $6.50 in a research note on Monday. Mizuho decreased their price target on Paramount Group from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, October 19th. StockNews.com started coverage on Paramount Group in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. TheStreet lowered Paramount Group from a “c” rating to a “d+” rating in a research note on Wednesday, July 27th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Paramount Group from $10.00 to $8.00 and set a “hold” rating on the stock in a research note on Thursday, October 13th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Paramount Group presently has an average rating of “Hold” and an average target price of $6.80.

Paramount Group Stock Down 1.7 %

Paramount Group stock opened at $6.26 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 3.48 and a current ratio of 3.48. Paramount Group has a fifty-two week low of $5.78 and a fifty-two week high of $11.53. The stock’s fifty day moving average is $6.42 and its two-hundred day moving average is $7.27. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 313.16 and a beta of 1.16.

Institutional Investors Weigh In On Paramount Group

Hedge funds have recently modified their holdings of the stock. Wipfli Financial Advisors LLC purchased a new stake in Paramount Group during the 3rd quarter worth approximately $43,000. Harvest Fund Management Co. Ltd purchased a new stake in Paramount Group during the 2nd quarter worth approximately $52,000. Vestmark Advisory Solutions Inc. purchased a new stake in Paramount Group during the 2nd quarter worth approximately $73,000. Stephens Inc. AR purchased a new stake in Paramount Group during the 2nd quarter worth approximately $73,000. Finally, Xponance Inc. bought a new stake in shares of Paramount Group in the 2nd quarter valued at approximately $73,000. 59.20% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Group Company Profile

(Get Rating)

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.

Featured Articles

Analyst Recommendations for Paramount Group (NYSE:PGRE)

Receive News & Ratings for Paramount Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paramount Group and related companies with MarketBeat.com's FREE daily email newsletter.