Rhumbline Advisers Has $1.43 Million Stock Holdings in Paramount Group, Inc. $PGRE

Rhumbline Advisers decreased its position in Paramount Group, Inc. (NYSE:PGRE) by 2.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 331,454 shares of the financial services provider’s stock after selling 9,218 shares during the quarter. Rhumbline Advisers owned approximately 0.15% of Paramount Group worth $1,425,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Manchester Capital Management LLC grew its stake in Paramount Group by 99.2% in the 1st quarter. Manchester Capital Management LLC now owns 8,864 shares of the financial services provider’s stock valued at $38,000 after buying an additional 4,415 shares during the last quarter. Wolverine Asset Management LLC boosted its holdings 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 valued at $52,000 after acquiring an additional 5,659 shares during the period. Levin Capital Strategies L.P. acquired a new stake in shares of Paramount Group in the first quarter valued at about $64,000. Adero Partners LLC acquired a new stake in shares of Paramount Group in the first quarter valued at about $67,000. Finally, Quantinno Capital Management LP increased its stake in shares of Paramount Group by 22.0% in the fourth quarter. Quantinno Capital Management LP now owns 15,771 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 2,845 shares during the period. 65.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on PGRE shares. Wells Fargo & Company upgraded Paramount Group from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $4.20 to $6.60 in a research note on Thursday. BTIG Research reiterated a “neutral” rating on shares of Paramount Group in a report on Wednesday. Finally, Mizuho raised their price objective on shares of Paramount Group from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Monday, July 14th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $5.96.

Paramount Group Price Performance

Paramount Group stock opened at $6.53 on Friday. The business’s 50-day simple moving average is $6.74 and its 200 day simple moving average is $5.66. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 0.90. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -18.14 and a beta of 1.38. Paramount Group, Inc. has a 12-month low of $3.75 and a 12-month high of $7.85.

Paramount Group (NYSE:PGRE) last announced its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.03. The firm had revenue of $177.05 million during the quarter, compared to analysts’ expectations of $173.98 million. Paramount Group had a negative return on equity of 1.92% and a negative net margin of 10.49%. Paramount Group has set its FY 2025 guidance at 0.550-0.590 EPS. As a group, research analysts anticipate that Paramount Group, Inc. will post 0.78 earnings per share for the current 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.