Voya Investment Management LLC Sells 5,973 Shares of Paramount Group, Inc. $PGRE

Voya Investment Management LLC lowered its position in Paramount Group, Inc. (NYSE:PGRE) by 9.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 54,440 shares of the financial services provider’s stock after selling 5,973 shares during the period. Voya Investment Management LLC’s holdings in Paramount Group were worth $234,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PGRE. Manchester Capital Management LLC boosted its holdings 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 buying an additional 4,415 shares during the period. Wolverine Asset Management LLC boosted its holdings in Paramount Group by 86.6% in the 1st 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. Levin Capital Strategies L.P. bought a new position in Paramount Group in the 1st quarter worth $64,000. Adero Partners LLC bought a new position in Paramount Group in the 1st quarter worth $67,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Paramount Group during the 1st quarter valued at about $109,000. Institutional investors own 65.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on PGRE shares. BTIG Research reissued a “neutral” rating on shares of Paramount Group in a report on Wednesday, September 17th. Mizuho increased their price objective 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 set a $6.60 price objective on shares of Paramount Group and gave the company an “in-line” rating in a report on Monday, September 22nd. Finally, Wells Fargo & Company raised shares of Paramount Group from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $4.20 to $6.60 in a report on Thursday, September 18th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Paramount Group presently has a consensus rating of “Hold” and an average target price of $5.61.

Paramount Group Stock Performance

Paramount Group stock opened at $6.52 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 5.91 and a quick ratio of 5.91. Paramount Group, Inc. has a 1-year low of $3.75 and a 1-year high of $7.85. The firm has a market capitalization of $1.44 billion, a P/E ratio of -18.11 and a beta of 1.38. The company’s 50-day moving average is $6.74 and its 200 day moving average is $5.78.

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

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.