Tower Research Capital LLC TRC Acquires 27,589 Shares of Paramount Group, Inc. (NYSE:PGRE)

Tower Research Capital LLC TRC lifted its holdings in Paramount Group, Inc. (NYSE:PGRE – Get Rating) by 488.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,240 shares of the financial services provider’s stock after buying an additional 27,589 shares during the period. Tower Research Capital LLC TRC’s holdings in Paramount Group were worth $207,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PGRE. Bank of New York Mellon Corp increased its holdings in shares of Paramount Group by 0.4% in the 1st quarter. Bank of New York Mellon Corp now owns 1,378,173 shares of the financial services provider’s stock worth $15,035,000 after buying an additional 5,625 shares during the last quarter. American Century Companies Inc. bought a new stake in shares of Paramount Group in the 1st quarter worth about $478,000. Bank of Montreal Can increased its holdings in shares of Paramount Group by 73.3% in the 1st quarter. Bank of Montreal Can now owns 22,054 shares of the financial services provider’s stock worth $241,000 after buying an additional 9,328 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Paramount Group by 38.6% in the 1st quarter. MetLife Investment Management LLC now owns 89,089 shares of the financial services provider’s stock worth $972,000 after buying an additional 24,820 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in shares of Paramount Group by 5.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 154,534 shares of the financial services provider’s stock worth $1,755,000 after buying an additional 8,224 shares during the last quarter. 59.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Paramount Group

In related news, CEO Albert P. Behler acquired 40,000 shares of the stock in a transaction on Wednesday, December 7th. The stock was bought at an average cost of $5.75 per share, with a total value of $230,000.00. Following the transaction, the chief executive officer now directly owns 171,812 shares in the company, valued at $987,919. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Paramount Group news, CEO Albert P. Behler purchased 40,000 shares of the stock in a transaction dated Wednesday, December 7th. The stock was purchased at an average price of $5.75 per share, with a total value 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas Armbrust purchased 20,000 shares of the stock in a transaction dated Wednesday, December 7th. The stock was acquired at an average cost of $5.71 per share, with a total value of $114,200.00. Following 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 purchased a total of 80,000 shares of company stock valued at $452,800 in the last three months. Company insiders own 10.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. StockNews.com upgraded shares of Paramount Group from a “sell” rating to a “hold” rating in a report on Monday, February 27th. Morgan Stanley downgraded shares of 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 cut their price target on shares of Paramount Group from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, January 4th. Evercore ISI downgraded shares of 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. Finally, Bank of America assumed coverage on shares of Paramount Group in a report on Wednesday, March 1st. They set a “neutral” rating and a $5.50 price target on the stock. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.42.

Paramount Group Price Performance

Paramount Group stock opened at $5.27 on Monday. 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. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.85 and a quick ratio of 3.85. Paramount Group, Inc. has a 1 year low of $5.11 and a 1 year high of $11.16. The firm has a 50-day moving average of $5.92 and a two-hundred day moving average of $6.29.

Paramount Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Friday, December 30th were given a $0.078 dividend. The ex-dividend date was Thursday, December 29th. This represents a $0.31 annualized dividend and a yield of 5.92%. Paramount Group’s dividend payout ratio (DPR) is -193.74%.

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.