Goldman Sachs Group Inc. Lowers Stake in Paramount Group, Inc. $PGRE

Goldman Sachs Group Inc. lessened its holdings in Paramount Group, Inc. (NYSE:PGRE) by 27.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 913,008 shares of the financial services provider’s stock after selling 342,472 shares during the period. Goldman Sachs Group Inc. owned approximately 0.42% of Paramount Group worth $3,926,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PGRE. Nuveen LLC purchased a new stake in shares of Paramount Group during the 1st quarter worth $6,096,000. Two Sigma Advisers LP raised its stake in Paramount Group by 103.3% during the 4th quarter. Two Sigma Advisers LP now owns 742,100 shares of the financial services provider’s stock worth $3,666,000 after acquiring an additional 377,100 shares in the last quarter. XTX Topco Ltd raised its stake in Paramount Group by 249.9% during the 1st quarter. XTX Topco Ltd now owns 162,968 shares of the financial services provider’s stock worth $701,000 after acquiring an additional 116,394 shares in the last quarter. American Century Companies Inc. raised its stake in Paramount Group by 222.1% during the 1st quarter. American Century Companies Inc. now owns 49,749 shares of the financial services provider’s stock worth $214,000 after acquiring an additional 34,306 shares in the last quarter. Finally, GSA Capital Partners LLP raised its stake in Paramount Group by 102.8% during the 1st quarter. GSA Capital Partners LLP now owns 402,937 shares of the financial services provider’s stock worth $1,733,000 after acquiring an additional 204,248 shares in the last quarter. Hedge funds and other institutional investors own 65.64% of the company’s stock.

Paramount Group Price Performance

PGRE opened at $6.54 on Thursday. The company has a fifty day simple moving average of $6.75 and a 200 day simple moving average of $5.63. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -18.17 and a beta of 1.38. Paramount Group, Inc. has a twelve month low of $3.75 and a twelve month high of $7.85. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 0.90.

Paramount Group (NYSE:PGRE) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates 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. Equities research analysts expect that Paramount Group, Inc. will post 0.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PGRE shares. Wells Fargo & Company cut their price target on shares of Paramount Group from $4.50 to $4.20 and set an “underweight” rating on the stock in a research note on Wednesday, August 27th. BTIG Research restated a “neutral” rating on shares of Paramount Group in a research note on Wednesday. Finally, Mizuho lifted their price objective on shares of Paramount Group from $5.00 to $6.00 and gave the company an “outperform” rating in a research note on Monday, July 14th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $5.36.

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.