Paramount Group, Inc. (NYSE:PGRE) Sees Significant Growth in Short Interest

Paramount Group, Inc. (NYSE:PGRE) was the target of a significant increase in short interest in April. As of April 15th, there was short interest totalling 5,840,000 shares, an increase of 29.8% from the March 31st total of 4,500,000 shares. Currently, 3.2% of the company’s stock are short sold. Based on an average trading volume of 1,780,000 shares, the short-interest ratio is presently 3.3 days.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PGRE. Morgan Stanley restated an “underweight” rating and issued a $3.25 price target on shares of Paramount Group in a research report on Tuesday, April 15th. StockNews.com cut Paramount Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 23rd. Finally, Mizuho cut their price target on shares of Paramount Group from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, February 25th.

Paramount Group Trading Up 2.0 %

NYSE:PGRE opened at $4.69 on Friday. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of -4.79 and a beta of 1.12. The business has a fifty day moving average of $4.24 and a 200-day moving average of $4.63. Paramount Group has a 1 year low of $3.75 and a 1 year high of $5.47. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.45 and a current ratio of 4.45.

Paramount Group (NYSE:PGRE) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $0.17 EPS for the quarter, hitting the consensus estimate of $0.17. Paramount Group had a negative return on equity of 5.26% and a negative net margin of 27.92%. The firm had revenue of $187.02 million for the quarter, compared to analysts’ expectations of $180.79 million. Equities analysts predict that Paramount Group will post 0.78 earnings per share for the current year.

Insiders Place Their Bets

In other Paramount Group news, CEO Albert P. Behler acquired 10,000 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were acquired at an average price of $4.15 per share, for a total transaction of $41,500.00. Following the acquisition, the chief executive officer now owns 751,812 shares in the company, valued at $3,120,019.80. The trade was a 1.35 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 13.80% of the company’s stock.

Institutional Investors Weigh In On Paramount Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC increased its position in Paramount Group by 806.3% in the 4th quarter. Sterling Capital Management LLC now owns 5,909 shares of the financial services provider’s stock worth $29,000 after buying an additional 5,257 shares during the period. Gotham Asset Management LLC bought a new stake in Paramount Group in the 4th quarter valued at $52,000. Commerce Bank acquired a new stake in Paramount Group in the 4th quarter worth $54,000. Greenleaf Trust bought a new stake in shares of Paramount Group in the fourth quarter valued at about $63,000. Finally, Adero Partners LLC acquired a new stake in Paramount Group during the first quarter worth about $67,000. 65.64% of the stock is owned by hedge funds and other institutional investors.

Paramount Group Company 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. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.