Paramount Group (NYSE:PGRE) Rating Lowered to Sell at StockNews.com

Paramount Group (NYSE:PGRE – Get Rating) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Tuesday.

Several other equities analysts also recently weighed in on PGRE. Evercore ISI downgraded shares of 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, November 21st. Morgan Stanley downgraded shares of Paramount Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $8.00 to $6.50 in a research note on Wednesday, November 23rd. Bank of America began coverage on shares of Paramount Group in a research report on Wednesday, March 1st. They set a “neutral” rating and a $5.50 price objective for the company. Finally, Mizuho cut their price objective on shares of Paramount Group from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, January 4th. Three analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.42.

Paramount Group Stock Down 0.4 %

PGRE stock opened at $5.25 on Tuesday. The firm has a market cap of $1.14 billion, a PE ratio of -32.81, a P/E/G ratio of 0.52 and a beta of 1.21. The company has a debt-to-equity ratio of 0.87, a quick ratio of 3.85 and a current ratio of 3.85. The firm’s fifty day moving average is $5.91 and its 200 day moving average is $6.28. Paramount Group has a one year low of $5.11 and a one year high of $11.16.

Insider Transactions at Paramount Group

In other Paramount Group news, CEO Albert P. Behler acquired 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The shares were acquired at an average cost of $5.19 per share, for a total transaction of $103,800.00. Following the transaction, the chief executive officer now directly owns 311,812 shares of the company’s stock, valued at $1,618,304.28. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Albert P. Behler bought 40,000 shares of Paramount Group stock in a transaction on Wednesday, December 7th. The shares were bought at an average cost of $5.75 per share, for a total transaction of $230,000.00. Following the acquisition, the chief executive officer now 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 available at this hyperlink. Also, CEO Albert P. Behler bought 20,000 shares of Paramount Group stock in a transaction on Thursday, March 2nd. The stock was purchased at an average price of $5.19 per share, for a total transaction of $103,800.00. Following the completion of the acquisition, the chief executive officer now owns 311,812 shares in the company, valued at approximately $1,618,304.28. The disclosure for this purchase can be found here. Insiders have purchased a total of 100,000 shares of company stock valued at $556,600 in the last ninety days. 10.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PGRE. Bank of New York Mellon Corp lifted its holdings in shares of Paramount Group by 0.4% during 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 acquiring an additional 5,625 shares during the period. American Century Companies Inc. acquired a new stake in Paramount Group during the 1st quarter worth approximately $478,000. Bank of Montreal Can increased its position in Paramount Group by 73.3% during the 1st quarter. Bank of Montreal Can now owns 22,054 shares of the financial services provider’s stock worth $241,000 after purchasing an additional 9,328 shares in the last quarter. MetLife Investment Management LLC increased its position in Paramount Group by 38.6% during the 1st quarter. MetLife Investment Management LLC now owns 89,089 shares of the financial services provider’s stock worth $972,000 after purchasing an additional 24,820 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its position in Paramount Group by 5.6% during 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 purchasing an additional 8,224 shares in the last quarter. 59.17% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Group Company Profile

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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.