Paramount Group, Inc. $PGRE Shares Sold by IFM Investors Pty Ltd

IFM Investors Pty Ltd reduced its stake in shares of Paramount Group, Inc. (NYSE:PGRE) by 13.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,059 shares of the financial services provider’s stock after selling 5,732 shares during the quarter. IFM Investors Pty Ltd’s holdings in Paramount Group were worth $159,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Manchester Capital Management LLC grew its position in 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 buying an additional 4,415 shares during the period. Gotham Asset Management LLC acquired a new position in Paramount Group during the fourth quarter worth about $52,000. Wolverine Asset Management LLC grew its position in Paramount Group by 86.6% during the first quarter. Wolverine Asset Management LLC now owns 12,195 shares of the financial services provider’s stock worth $52,000 after buying an additional 5,659 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its position in Paramount Group by 104.8% during the fourth 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 period. Finally, Levin Capital Strategies L.P. purchased a new stake in shares of Paramount Group in the first quarter valued at about $64,000. 65.64% of the stock is currently owned by institutional investors and hedge funds.

Paramount Group Stock Performance

Shares of PGRE opened at $7.13 on Friday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 5.91 and a current ratio of 5.91. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -19.81 and a beta of 1.38. The company’s 50 day simple moving average is $6.70 and its 200 day simple moving average is $5.58. Paramount Group, Inc. has a 1 year low of $3.75 and a 1 year high of $7.55.

Paramount Group (NYSE:PGRE) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate 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. On average, sell-side analysts predict that Paramount Group, Inc. will post 0.78 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Mizuho upped their price target on shares of Paramount Group from $5.00 to $6.00 and gave the company an “outperform” rating in a report on Monday, July 14th. Evercore ISI raised shares of Paramount Group from an “in-line” rating to an “outperform” rating and upped their price target for the company from $4.50 to $8.00 in a report on Tuesday, May 20th. Finally, Wells Fargo & Company reduced their price target on shares of Paramount Group from $4.50 to $4.20 and set an “underweight” rating on the stock in a report on Wednesday, August 27th. Two analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Paramount Group presently has a consensus rating of “Hold” and a consensus target price of $5.36.

Paramount Group Company 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.