Analysts Set Paramount Group, Inc. (NYSE:PGRE) PT at $5.61

Paramount Group, Inc. (NYSE:PGRE) has been assigned an average recommendation of “Reduce” from the six research firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $5.6125.

PGRE has been the topic of several recent analyst 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 note on Monday, September 22nd. BTIG Research restated a “neutral” rating on shares of Paramount Group in a research note on Wednesday, September 17th. Wells Fargo & Company upgraded shares of Paramount Group from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $4.20 to $6.60 in a research note on Thursday, September 18th. Mizuho boosted their target price 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. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Paramount Group in a research note on Wednesday, October 8th.

Institutional Investors Weigh In On Paramount Group

A number of hedge funds have recently added to or reduced their stakes in PGRE. Manchester Capital Management LLC grew its holdings in Paramount Group by 99.2% during 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. Signaturefd LLC grew its holdings in Paramount Group by 101.0% during the 2nd quarter. Signaturefd LLC now owns 8,291 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 4,167 shares during the last quarter. Wolverine Asset Management LLC grew its holdings in Paramount Group by 86.6% during the 1st quarter. Wolverine Asset Management LLC now owns 12,195 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 5,659 shares during the last quarter. Levin Capital Strategies L.P. bought a new stake in Paramount Group during the 1st quarter worth about $64,000. Finally, Adero Partners LLC bought a new stake in Paramount Group during the 1st quarter worth about $67,000. Institutional investors own 65.64% of the company’s stock.

Paramount Group Trading Down 0.1%

Shares of Paramount Group stock opened at $6.53 on Friday. The firm has a market capitalization of $1.44 billion, a PE ratio of -18.13 and a beta of 1.37. The company has a debt-to-equity ratio of 0.90, a current ratio of 5.91 and a quick ratio of 5.91. The company’s fifty day moving average price is $6.79 and its two-hundred day moving average price is $5.95. Paramount Group has a 52-week low of $3.75 and a 52-week high of $7.85.

Paramount Group (NYSE:PGRE) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. The firm had revenue of $177.05 million for 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. On average, analysts expect that Paramount Group will post 0.78 EPS 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.