Sumitomo Mitsui Trust Holdings Inc. Has $1.03 Million Position in Paramount Group, Inc. (NYSE:PGRE)

Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Paramount Group, Inc. (NYSE:PGRE) by 11.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 198,500 shares of the financial services provider’s stock after buying an additional 20,120 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Paramount Group were worth $1,026,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of PGRE. Ieq Capital LLC bought a new stake in Paramount Group during the third quarter worth about $48,000. Wolverine Asset Management LLC bought a new stake in Paramount Group during the third quarter worth about $52,000. Paces Ferry Wealth Advisors LLC bought a new stake in Paramount Group during the third quarter worth about $54,000. Caprock Group LLC bought a new stake in Paramount Group during the third quarter worth about $97,000. Finally, Ballentine Partners LLC bought a new stake in Paramount Group during the fourth quarter worth about $111,000. 65.64% of the stock is owned by institutional investors and hedge funds.

Paramount Group Price Performance

NYSE:PGRE opened at $4.62 on Friday. Paramount Group, Inc. has a 12-month low of $4.06 and a 12-month high of $5.92. The stock’s 50 day moving average price is $4.60 and its two-hundred day moving average price is $4.73. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $1.00 billion, a price-to-earnings ratio of -3.85, a P/E/G ratio of 0.25 and a beta of 1.22.

Paramount Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Wednesday, March 27th. Paramount Group’s payout ratio is -11.67%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PGRE shares. StockNews.com lowered Paramount Group from a “hold” rating to a “sell” rating in a report on Monday, February 19th. Morgan Stanley dropped their price objective on Paramount Group from $4.70 to $4.50 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th. Finally, Evercore ISI upgraded Paramount Group from an “underperform” rating to an “in-line” rating and set a $5.00 price objective on the stock in a research note on Monday, March 18th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $4.60.

Paramount Group Profile

Paramount Group, Inc ("Paramount" or the "Company") 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 and San Francisco.