Paramount Group, Inc. (NYSE:PGRE) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp trimmed its stake in shares of Paramount Group, Inc. (NYSE:PGRE – Get Rating) by 34.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,067 shares of the financial services provider’s stock after selling 5,861 shares during the quarter. Van ECK Associates Corp’s holdings in Paramount Group were worth $69,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PGRE. Mackenzie Financial Corp lifted its holdings in Paramount Group by 3.2% during the 1st quarter. Mackenzie Financial Corp now owns 39,466 shares of the financial services provider’s stock worth $431,000 after buying an additional 1,229 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Paramount Group by 1.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 76,170 shares of the financial services provider’s stock worth $551,000 after buying an additional 1,304 shares during the last quarter. 1620 Investment Advisors Inc. lifted its holdings in Paramount Group by 12.3% during the 2nd quarter. 1620 Investment Advisors Inc. now owns 19,818 shares of the financial services provider’s stock worth $143,000 after buying an additional 2,170 shares during the last quarter. Martingale Asset Management L P lifted its holdings in Paramount Group by 1.5% during the 2nd quarter. Martingale Asset Management L P now owns 152,226 shares of the financial services provider’s stock worth $1,101,000 after buying an additional 2,215 shares during the last quarter. Finally, Wetherby Asset Management Inc. lifted its holdings in Paramount Group by 28.7% during the 1st quarter. Wetherby Asset Management Inc. now owns 18,760 shares of the financial services provider’s stock worth $205,000 after buying an additional 4,181 shares during the last quarter. 59.17% of the stock is owned by institutional investors and hedge funds.

Paramount Group Stock Up 2.0 %

PGRE opened at $6.15 on Friday. The business has a 50 day moving average price of $6.06 and a two-hundred day moving average price of $6.64. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.87. The company has a market cap of $1.35 billion, a PE ratio of 307.65 and a beta of 1.15. Paramount Group, Inc. has a 52 week low of $5.48 and a 52 week high of $11.53.

Paramount Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Friday, December 30th were paid a dividend of $0.078 per share. This represents a $0.31 annualized dividend and a yield of 5.07%. The ex-dividend date of this dividend was Thursday, December 29th. Paramount Group’s dividend payout ratio is presently 1,550.78%.

Insider Buying and Selling at Paramount Group

In related news, CEO Albert P. Behler acquired 40,000 shares of Paramount Group stock in a transaction on Wednesday, December 7th. The stock was purchased at an average cost of $5.75 per share, with a total value of $230,000.00. Following the purchase, the chief executive officer now directly owns 171,812 shares in the company, valued at $987,919. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Paramount Group news, Director Thomas Armbrust bought 20,000 shares of the company’s stock in a transaction on Wednesday, December 7th. The shares were bought at an average price of $5.71 per share, for a total transaction of $114,200.00. Following the transaction, the director now owns 232,853 shares of the company’s stock, valued at approximately $1,329,590.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Albert P. Behler bought 40,000 shares of the company’s stock in a transaction on Wednesday, December 7th. The shares were acquired at an average price of $5.75 per share, for a total transaction of $230,000.00. Following the transaction, the chief executive officer now directly owns 171,812 shares in the company, valued at approximately $987,919. The disclosure for this purchase can be found here. 10.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Morgan Stanley downgraded Paramount Group from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $8.00 to $6.50 in a report on Wednesday, November 23rd. Evercore ISI downgraded Paramount Group from an “in-line” rating to an “underperform” rating and reduced their target price for the company from $8.00 to $6.50 in a report on Monday, November 21st. Mizuho reduced their target price on Paramount Group from $8.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, January 4th. BTIG Research downgraded Paramount Group from a “buy” rating to a “neutral” rating in a report on Wednesday, October 19th. Finally, StockNews.com assumed coverage on Paramount Group in a report on Wednesday, October 12th. They issued a “hold” rating for the company. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $6.60.

Paramount Group 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.