Paramount Group (NYSE:PGRE) Rating Lowered to “Hold” at Evercore ISI

Paramount Group (NYSE:PGRE) was downgraded by investment analysts at Evercore ISI from an “outperform” rating to a “hold” rating in a research note issued on Monday, Marketbeat reports. They presently have a $6.60 target price on the financial services provider’s stock. Evercore ISI’s price target would indicate a potential upside of 1.15% from the company’s current price.

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

Paramount Group Price Performance

Paramount Group stock opened at $6.53 on Monday. The firm has a market capitalization of $1.44 billion, a P/E ratio of -18.13 and a beta of 1.38. Paramount Group has a 1 year low of $3.75 and a 1 year high of $7.85. The business 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.

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

Institutional Investors Weigh In On Paramount Group

A number of institutional investors and hedge funds have recently made changes to their positions in PGRE. Ameriprise Financial Inc. raised its stake in shares of Paramount Group by 159.7% during the 4th quarter. Ameriprise Financial Inc. now owns 43,239 shares of the financial services provider’s stock worth $214,000 after purchasing an additional 26,590 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Paramount Group by 3.6% during 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 purchasing an additional 3,673 shares in the last quarter. Quantinno Capital Management LP increased its holdings in shares of Paramount Group by 22.0% during the 4th quarter. Quantinno Capital Management LP now owns 15,771 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 2,845 shares during the last quarter. ProShare Advisors LLC raised its stake in Paramount Group by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 51,962 shares of the financial services provider’s stock valued at $257,000 after acquiring an additional 17,097 shares during the period. Finally, Two Sigma Investments LP raised its stake in Paramount Group by 17.4% in the 4th quarter. Two Sigma Investments LP now owns 1,088,289 shares of the financial services provider’s stock valued at $5,376,000 after acquiring an additional 160,956 shares during the period. Institutional investors own 65.64% of the company’s stock.

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.