Vanguard Group Inc. Purchases 28,720 Shares of Paramount Group, Inc. (NYSE:PGRE)

Vanguard Group Inc. grew its position in shares of Paramount Group, Inc. (NYSE:PGREFree Report) by 0.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,584,146 shares of the financial services provider’s stock after buying an additional 28,720 shares during the period. Vanguard Group Inc. owned approximately 11.77% of Paramount Group worth $132,270,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its stake in Paramount Group by 23.9% in the fourth quarter. Van ECK Associates Corp now owns 30,707 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 5,914 shares in the last quarter. Employees Retirement System of Texas acquired a new position in Paramount Group in the third quarter valued at about $1,155,000. Norges Bank acquired a new position in Paramount Group in the fourth quarter valued at about $54,507,000. Ballentine Partners LLC bought a new position in Paramount Group in the fourth quarter valued at about $111,000. Finally, Metis Global Partners LLC bought a new position in Paramount Group in the fourth quarter valued at about $58,000. Institutional investors own 65.64% of the company’s stock.

Wall Street Analysts Forecast Growth

PGRE has been the topic of a number of recent analyst reports. Morgan Stanley decreased their target price on Paramount Group from $4.70 to $4.50 and set an “equal weight” rating on the stock in a research report on Thursday, March 28th. Evercore ISI upgraded Paramount Group from an “underperform” rating to an “in-line” rating and set a $5.00 target price on the stock in a research report on Monday, March 18th. Finally, StockNews.com upgraded Paramount Group from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $4.60.

Read Our Latest Research Report on PGRE

Paramount Group Stock Performance

NYSE:PGRE opened at $4.68 on Friday. The stock has a market cap of $1.02 billion, a P/E ratio of -4.03, a price-to-earnings-growth ratio of 0.23 and a beta of 1.26. The company has a current ratio of 4.03, a quick ratio of 4.03 and a debt-to-equity ratio of 0.90. The stock’s 50-day moving average is $4.65 and its 200-day moving average is $4.71. Paramount Group, Inc. has a 1-year low of $4.06 and a 1-year high of $5.92.

Paramount Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, June 28th. Paramount Group’s dividend payout ratio (DPR) is currently -12.07%.

About Paramount Group

(Free Report)

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.

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Institutional Ownership by Quarter for Paramount Group (NYSE:PGRE)

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