Nisa Investment Advisors LLC Sells 5,645 Shares of Paramount Group, Inc. (NYSE:PGRE)

Nisa Investment Advisors LLC trimmed its position in Paramount Group, Inc. (NYSE:PGRE) by 10.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,540 shares of the financial services provider’s stock after selling 5,645 shares during the period. Nisa Investment Advisors LLC’s holdings in Paramount Group were worth $204,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Paramount Group by 1.8% during 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 in the last quarter. Long Pond Capital LP raised its position in shares of Paramount Group by 12.5% during the 4th quarter. Long Pond Capital LP now owns 10,053,335 shares of the financial services provider’s stock valued at $49,663,000 after buying an additional 1,116,395 shares in the last quarter. Legal & General Group Plc raised its position in 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 worth $24,011,000 after purchasing an additional 135,654 shares during the period. Arrowstreet Capital Limited Partnership raised its position in 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 worth $14,304,000 after purchasing an additional 292,392 shares during the period. Finally, Northern Trust Corp raised its position in 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 worth $14,282,000 after purchasing an additional 827,187 shares during the period. 65.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Morgan Stanley restated an “underweight” rating and issued a $3.25 price objective on shares of Paramount Group in a research report on Tuesday, April 15th. Mizuho boosted their price objective on shares of Paramount Group from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Monday. Wells Fargo & Company decreased their price objective on shares of Paramount Group from $5.00 to $4.50 and set an “underweight” rating on the stock in a research report on Monday, May 19th. Evercore ISI raised shares of Paramount Group from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $4.50 to $8.00 in a research note on Tuesday, May 20th. Finally, Wall Street Zen lowered shares of Paramount Group from a “hold” rating to a “sell” rating in a research note on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating and two have given a buy rating to the company. According to data from MarketBeat, Paramount Group currently has a consensus rating of “Hold” and an average price target of $5.44.

Paramount Group Trading Down 4.1%

NYSE:PGRE opened at $6.40 on Friday. Paramount Group, Inc. has a one year low of $3.75 and a one year high of $6.89. The company has a debt-to-equity ratio of 0.90, a current ratio of 5.56 and a quick ratio of 5.56. The company’s 50-day simple moving average is $6.04 and its 200 day simple moving average is $5.01. The firm has a market capitalization of $1.40 billion, a P/E ratio of -20.63 and a beta of 1.31.

Paramount Group (NYSE:PGRE) last issued its earnings results on Wednesday, April 30th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. Paramount Group had a negative net margin of 8.76% and a negative return on equity of 1.63%. The firm had revenue of $187.02 million for the quarter, compared to the consensus estimate of $180.79 million. As a group, analysts forecast that Paramount Group, Inc. will post 0.78 EPS for the current fiscal year.

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.