Swiss National Bank Sells 4,900 Shares of Paramount Group, Inc. $PGRE

Swiss National Bank reduced its holdings in Paramount Group, Inc. (NYSE:PGRE) by 1.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 337,143 shares of the financial services provider’s stock after selling 4,900 shares during the quarter. Swiss National Bank owned 0.15% of Paramount Group worth $1,450,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Manchester Capital Management LLC grew its holdings in shares of Paramount Group by 99.2% during the first quarter. Manchester Capital Management LLC now owns 8,864 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 4,415 shares in the last quarter. Gotham Asset Management LLC bought a new stake in Paramount Group during the fourth quarter valued at approximately $52,000. Levin Capital Strategies L.P. bought a new stake in Paramount Group during the first quarter valued at approximately $64,000. Adero Partners LLC purchased a new position in Paramount Group in the 1st quarter worth approximately $67,000. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Paramount Group by 104.8% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,621 shares of the financial services provider’s stock worth $72,000 after buying an additional 7,481 shares during the last quarter. Hedge funds and other institutional investors own 65.64% of the company’s stock.

Paramount Group Price Performance

PGRE stock opened at $6.7850 on Monday. The firm has a market cap of $1.50 billion, a P/E ratio of -18.85 and a beta of 1.35. The firm’s fifty day moving average is $6.41 and its 200 day moving average is $5.33. Paramount Group, Inc. has a 52 week low of $3.75 and a 52 week high of $6.93. The company has a debt-to-equity ratio of 0.90, a quick ratio of 5.91 and a current ratio of 5.91.

Paramount Group (NYSE:PGRE) last posted its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. The business had revenue of $177.05 million during the quarter, compared to analyst estimates of $173.98 million. Paramount Group had a negative net margin of 10.49% and a negative return on equity of 1.92%. Paramount Group has set its FY 2025 guidance at 0.550-0.590 EPS. Research analysts predict that Paramount Group, Inc. will post 0.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PGRE has been the subject of a number of research analyst reports. Wells Fargo & Company dropped their price objective on shares of Paramount Group from $5.00 to $4.50 and set an “underweight” rating for the company in a report on Monday, May 19th. Evercore ISI upgraded Paramount Group from an “in-line” rating to an “outperform” rating and raised their price target for the company from $4.50 to $8.00 in a research report on Tuesday, May 20th. Finally, Mizuho lifted their price target on Paramount Group from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Monday, July 14th. Two investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Paramount Group presently has an average rating of “Hold” and an average target price of $5.44.

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.