Paramount Group (NYSE:PGRE) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Paramount Group (NYSE:PGRE) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

Several other equities analysts have also recently weighed in on the stock. Evercore ISI upgraded shares of 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. Morgan Stanley dropped their price target on shares of 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Paramount Group currently has a consensus rating of Hold and an average target price of $4.60.

Paramount Group Stock Performance

PGRE stock opened at $4.86 on Friday. The company has a market cap of $1.06 billion, a P/E ratio of -4.19, a price-to-earnings-growth ratio of 0.24 and a beta of 1.20. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.03 and a quick ratio of 4.03. Paramount Group has a 1 year low of $4.06 and a 1 year high of $5.92. The stock’s fifty day moving average price is $4.61 and its 200-day moving average price is $4.75.

Paramount Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a yield of 2.88%. The ex-dividend date was Wednesday, March 27th. Paramount Group’s dividend payout ratio is currently -12.07%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Manchester Capital Management LLC raised its position in shares of Paramount Group by 139.1% during the first quarter. Manchester Capital Management LLC now owns 12,137 shares of the financial services provider’s stock valued at $57,000 after buying an additional 7,061 shares during the last quarter. BNP Paribas Financial Markets grew its stake in Paramount Group by 17.7% during the first quarter. BNP Paribas Financial Markets now owns 111,072 shares of the financial services provider’s stock valued at $521,000 after acquiring an additional 16,717 shares in the last quarter. Ballentine Partners LLC increased its holdings in Paramount Group by 17.7% in the 1st quarter. Ballentine Partners LLC now owns 25,217 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 3,789 shares during the last quarter. Quadrature Capital Ltd lifted its stake in Paramount Group by 202.6% in the 4th quarter. Quadrature Capital Ltd now owns 71,073 shares of the financial services provider’s stock worth $367,000 after purchasing an additional 47,586 shares in the last quarter. Finally, Heitman Real Estate Securities LLC boosted its holdings in shares of Paramount Group by 4.8% during the 4th quarter. Heitman Real Estate Securities LLC now owns 246,884 shares of the financial services provider’s stock valued at $1,276,000 after purchasing an additional 11,375 shares during the last quarter. Institutional investors own 65.64% of the company’s stock.

About Paramount Group

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.