Tower Research Capital LLC TRC Sells 6,662 Shares of Paramount Group, Inc. (NYSE:PGRE)

Tower Research Capital LLC TRC reduced its holdings in Paramount Group, Inc. (NYSE:PGRE) by 55.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,294 shares of the financial services provider’s stock after selling 6,662 shares during the period. Tower Research Capital LLC TRC’s holdings in Paramount Group were worth $26,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PGRE. Barclays PLC increased its position in Paramount Group by 95.5% in the 3rd quarter. Barclays PLC now owns 455,700 shares of the financial services provider’s stock worth $2,242,000 after buying an additional 222,656 shares during the period. Franklin Resources Inc. bought a new position in Paramount Group in the 3rd quarter worth approximately $643,000. SG Americas Securities LLC increased its position in Paramount Group by 206.3% in the 4th quarter. SG Americas Securities LLC now owns 84,790 shares of the financial services provider’s stock worth $419,000 after buying an additional 57,105 shares during the period. Inspire Investing LLC bought a new position in Paramount Group in the 4th quarter worth approximately $76,000. Finally, Swedbank AB increased its position in Paramount Group by 23.0% in the 4th quarter. Swedbank AB now owns 175,182 shares of the financial services provider’s stock worth $865,000 after buying an additional 32,716 shares during the period. 65.64% of the stock is owned by institutional investors.

Paramount Group Stock Performance

PGRE opened at $4.79 on Friday. The stock has a market cap of $1.05 billion, a PE ratio of -4.88 and a beta of 1.12. The company has a current ratio of 4.45, a quick ratio of 4.45 and a debt-to-equity ratio of 0.91. Paramount Group, Inc. has a 1 year low of $3.75 and a 1 year high of $5.47. The stock’s 50 day simple moving average is $4.28 and its 200-day simple moving average is $4.60.

Paramount Group (NYSE:PGRE) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. The business had revenue of $187.02 million for the quarter, compared to analysts’ expectations of $180.79 million. Paramount Group had a negative return on equity of 5.26% and a negative net margin of 27.92%. Sell-side analysts forecast that Paramount Group, Inc. will post 0.78 EPS for the current year.

Analysts Set New Price Targets

PGRE has been the topic of several recent analyst reports. Mizuho dropped their price target on Paramount Group from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 25th. Morgan Stanley restated an “underweight” rating and set a $3.25 price objective on shares of Paramount Group in a research report on Tuesday, April 15th. Finally, StockNews.com cut Paramount Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 23rd.

Insider Activity at Paramount Group

In related news, CEO Albert P. Behler purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were acquired at an average price of $4.15 per share, with a total value of $41,500.00. Following the purchase, the chief executive officer now directly owns 751,812 shares in the company, valued at $3,120,019.80. This represents a 1.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 13.80% of the stock is owned by insiders.

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. 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.