Paramount Group (NYSE:PGRE) Earns Neutral Rating from Analysts at Bank of America

Bank of America began coverage on shares of Paramount Group (NYSE:PGRE – Get Rating) in a research report report published on Wednesday, The Fly reports. The firm issued a neutral rating and a $5.50 target price on the financial services provider’s stock.

Several other equities analysts have also recently commented on PGRE. Evercore ISI cut Paramount Group from an in-line rating to an underperform rating and cut their price target for the company from $8.00 to $6.50 in a report on Monday, November 21st. Morgan Stanley cut Paramount Group from an overweight rating to an equal weight rating and cut their price target for the company from $8.00 to $6.50 in a report on Wednesday, November 23rd. Mizuho dropped 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. Finally, StockNews.com raised Paramount Group from a sell rating to a hold rating in a report on Monday, February 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Paramount Group has a consensus rating of Hold and an average price target of $6.42.

Paramount Group Trading Up 1.0 %

Paramount Group stock opened at $5.27 on Wednesday. The business has a 50 day moving average price of $5.92 and a two-hundred day moving average price of $6.30. The company has a quick ratio of 3.85, a current ratio of 3.85 and a debt-to-equity ratio of 0.87. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -32.94, a price-to-earnings-growth ratio of 0.52 and a beta of 1.21. Paramount Group has a 12 month low of $5.11 and a 12 month high of $11.16.

Paramount Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were issued a dividend of $0.078 per share. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $0.31 dividend on an annualized basis and a yield of 5.92%. Paramount Group’s dividend payout ratio is -193.74%.

Insider Activity at Paramount Group

In other Paramount Group news, Director Thomas Armbrust purchased 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 7th. The stock was purchased at an average cost of $5.71 per share, with a total value of $114,200.00. Following the acquisition, the director now directly owns 232,853 shares of the company’s stock, valued at approximately $1,329,590.63. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Albert P. Behler acquired 40,000 shares of the firm’s stock in a transaction on Wednesday, December 7th. The shares were purchased at an average cost of $5.75 per share, for a total transaction of $230,000.00. Following the transaction, the chief executive officer now owns 171,812 shares of the company’s stock, valued at $987,919. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas Armbrust acquired 20,000 shares of the firm’s stock in a transaction on Wednesday, December 7th. The stock was purchased at an average price of $5.71 per share, for a total transaction of $114,200.00. Following the completion of the transaction, the director now directly owns 232,853 shares in the company, valued at approximately $1,329,590.63. The disclosure for this purchase can be found here. Insiders acquired 80,000 shares of company stock valued at $452,800 in the last three months. Corporate insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Stephens Inc. AR bought a new position in Paramount Group in the 2nd quarter valued at $73,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Paramount Group in the 2nd quarter worth $3,192,000. Steward Partners Investment Advisory LLC bought a new position in shares of Paramount Group in the 2nd quarter worth $93,000. KLK Capital Management LLC bought a new position in shares of Paramount Group in the 3rd quarter worth $796,000. Finally, CAPROCK Group Inc. bought a new position in shares of Paramount Group in the 3rd quarter worth $92,000. 59.17% of the stock is currently owned by institutional investors.

About Paramount Group

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Paramount Group, Inc is a real estate investment and management company, which engages in the ownership, operation, management, acquisition, and redevelopment of office properties in central business district submarkets. The company operates through the New York and San Francisco segments. The company was founded by Werner Otto in 1978 and is headquartered in New York, NY.