Deutsche Bank AG Cuts Stock Holdings in Paramount Group, Inc. $PGRE

Deutsche Bank AG reduced its position in shares of Paramount Group, Inc. (NYSE:PGRE) by 5.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 911,811 shares of the financial services provider’s stock after selling 49,083 shares during the period. Deutsche Bank AG owned approximately 0.42% of Paramount Group worth $3,921,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PGRE. Northern Trust Corp grew its position in Paramount Group by 40.1% during the fourth quarter. Northern Trust Corp now owns 2,891,068 shares of the financial services provider’s stock worth $14,282,000 after buying an additional 827,187 shares during the period. Two Sigma Advisers LP grew its position in Paramount Group by 103.3% during the fourth quarter. Two Sigma Advisers LP now owns 742,100 shares of the financial services provider’s stock worth $3,666,000 after buying an additional 377,100 shares during the period. XTX Topco Ltd grew its position in Paramount Group by 249.9% during the first quarter. XTX Topco Ltd now owns 162,968 shares of the financial services provider’s stock worth $701,000 after buying an additional 116,394 shares during the period. GSA Capital Partners LLP grew its position in Paramount Group by 102.8% during the first quarter. GSA Capital Partners LLP now owns 402,937 shares of the financial services provider’s stock worth $1,733,000 after buying an additional 204,248 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Paramount Group during the first quarter worth about $6,164,000. 65.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wells Fargo & Company lowered their target price 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. Wall Street Zen lowered shares of Paramount Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 23rd. Evercore ISI upgraded shares of Paramount Group from an “in-line” rating to an “outperform” rating and increased their price target for the company from $4.50 to $8.00 in a research report on Tuesday, May 20th. Finally, Mizuho increased their price target on shares of Paramount Group from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Monday, July 14th. Three analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.44.

Paramount Group Stock Down 1.2%

PGRE stock opened at $6.76 on Tuesday. The company’s 50 day simple moving average is $6.39 and its 200-day simple moving average is $5.27. The firm has a market capitalization of $1.49 billion, a PE ratio of -18.78 and a beta of 1.35. Paramount Group, Inc. has a 12 month low of $3.75 and a 12 month high of $6.93. The company has a debt-to-equity ratio of 0.90, a current ratio of 5.91 and a quick ratio of 5.91.

Paramount Group (NYSE:PGRE) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.17 EPS for the quarter, beating the consensus estimate of $0.14 by $0.03. Paramount Group had a negative net margin of 10.49% and a negative return on equity of 1.92%. The business had revenue of $177.05 million for the quarter, compared to analyst estimates of $173.98 million. Equities analysts expect that Paramount Group, Inc. will post 0.78 earnings per share for the current fiscal year.

Paramount Group 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.