IFM Investors Pty Ltd Cuts Stock Position in Paramount Group, Inc. $PGRE

IFM Investors Pty Ltd cut its holdings in Paramount Group, Inc. (NYSE:PGRE) by 20.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,627 shares of the financial services provider’s stock after selling 7,432 shares during the period. IFM Investors Pty Ltd’s holdings in Paramount Group were worth $181,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Quantinno Capital Management LP lifted its position 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 buying an additional 2,845 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Paramount Group by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 105,005 shares of the financial services provider’s stock worth $519,000 after acquiring an additional 3,673 shares during the last quarter. Manchester Capital Management LLC increased 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 worth $38,000 after acquiring an additional 4,415 shares during the last quarter. Amundi increased its stake in Paramount Group by 4.6% in the 1st quarter. Amundi now owns 101,064 shares of the financial services provider’s stock worth $416,000 after acquiring an additional 4,459 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV increased its stake in Paramount Group by 19.5% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 29,360 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 4,790 shares during the last quarter. 65.64% of the stock is owned by hedge funds and other institutional investors.

Paramount Group Stock Down 0.2%

Shares of PGRE stock opened at $6.53 on Wednesday. The stock has a 50 day moving average of $6.73 and a 200 day moving average of $5.70. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 0.90. The stock has a market cap of $1.44 billion, a P/E ratio of -18.13 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.

Paramount Group (NYSE:PGRE) last released its earnings results on Wednesday, July 30th. The financial services provider reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. The business had revenue of $177.05 million during the quarter, compared to analysts’ expectations 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. As a group, sell-side analysts expect that Paramount Group, Inc. will post 0.78 EPS for the current year.

Wall Street Analyst Weigh In

PGRE has been the topic of several recent research reports. Evercore ISI set a $6.60 target price on shares of Paramount Group and gave the company an “in-line” rating in a research report on Monday. BTIG Research reiterated a “neutral” rating on shares of Paramount Group in a report on Wednesday, September 17th. Wells Fargo & Company upgraded Paramount Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $4.20 to $6.60 in a report on Thursday, September 18th. Finally, Mizuho raised their price target on Paramount Group from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.61.

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.