Paramount Group (NYSE:PGRE) Price Target Cut to $4.50 by Analysts at Wells Fargo & Company

Paramount Group (NYSE:PGRE) had its price objective cut by Wells Fargo & Company from $5.00 to $4.50 in a research note issued to investors on Monday,Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

A number of other research firms also recently weighed in on PGRE. StockNews.com downgraded Paramount Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 23rd. Morgan Stanley restated an “underweight” rating and set a $3.25 target price on shares of Paramount Group in a research report on Tuesday, April 15th. Finally, Mizuho dropped their target price on Paramount Group from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, February 25th.

Paramount Group Stock Up 13.0%

Shares of PGRE opened at $5.40 on Monday. The company has a market capitalization of $1.18 billion, a P/E ratio of -5.51 and a beta of 1.12. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.45 and a quick ratio of 4.45. Paramount Group has a one year low of $3.75 and a one year high of $5.75. The business’s 50 day simple moving average is $4.32 and its 200-day simple moving average is $4.60.

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

Insider Buying and Selling at Paramount Group

In other Paramount Group news, CEO Albert P. Behler bought 10,000 shares of the company’s stock in a transaction on Friday, March 21st. The stock was bought at an average price of $4.15 per share, for a total transaction of $41,500.00. Following the transaction, the chief executive officer now owns 751,812 shares of the company’s stock, valued at approximately $3,120,019.80. The trade was a 1.35% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 13.80% of the company’s stock.

Hedge Funds Weigh In On Paramount Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Paramount Group by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 26,922,796 shares of the financial services provider’s stock valued at $132,999,000 after buying an additional 477,940 shares during the period. Long Pond Capital LP grew its holdings in shares of Paramount Group by 16.8% in the 1st quarter. Long Pond Capital LP now owns 11,737,433 shares of the financial services provider’s stock valued at $50,471,000 after buying an additional 1,684,098 shares during the period. Legal & General Group Plc grew its holdings in shares of Paramount Group by 2.9% in the 4th quarter. Legal & General Group Plc now owns 4,860,475 shares of the financial services provider’s stock valued at $24,011,000 after buying an additional 135,654 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Paramount Group by 11.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,895,573 shares of the financial services provider’s stock valued at $14,304,000 after buying an additional 292,392 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Paramount Group by 40.1% in the 4th quarter. Northern Trust Corp now owns 2,891,068 shares of the financial services provider’s stock valued at $14,282,000 after buying an additional 827,187 shares during the period. Institutional investors and hedge funds 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. 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.