Paramount Group, Inc. (NYSE:PGRE) Receives Average Recommendation of “Hold” from Analysts

Shares of Paramount Group, Inc. (NYSE:PGRE) have been assigned an average rating of “Hold” from the six brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $6.45.

PGRE has been the topic of several recent analyst reports. Morgan Stanley set a $6.60 price objective on shares of Paramount Group and gave the stock an “equal weight” rating in a report on Wednesday, October 22nd. Evercore ISI set a $6.60 price target on shares of Paramount Group and gave the stock an “in-line” rating in a research note on Monday, September 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Paramount Group in a report on Tuesday, November 25th. BTIG Research reissued a “neutral” rating on shares of Paramount Group in a research note on Wednesday, September 17th. Finally, Wells Fargo & Company raised Paramount Group from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $4.20 to $6.60 in a research report on Thursday, September 18th.

Institutional Trading of Paramount Group

A number of institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in Paramount Group by 265.5% during the third quarter. JPMorgan Chase & Co. now owns 4,391,256 shares of the financial services provider’s stock valued at $28,719,000 after buying an additional 3,189,695 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Paramount Group by 3,252.7% in the 3rd quarter. Wellington Management Group LLP now owns 3,182,378 shares of the financial services provider’s stock valued at $20,813,000 after acquiring an additional 3,087,459 shares during the period. Quinn Opportunity Partners LLC raised its stake in shares of Paramount Group by 1,159.0% in the 3rd quarter. Quinn Opportunity Partners LLC now owns 2,447,400 shares of the financial services provider’s stock valued at $16,006,000 after acquiring an additional 2,253,000 shares during the period. Rush Island Management LP acquired a new position in shares of Paramount Group during the 2nd quarter valued at $12,295,000. Finally, Pentwater Capital Management LP purchased a new stake in Paramount Group during the 3rd quarter worth $13,089,000. Hedge funds and other institutional investors own 65.64% of the company’s stock.

Paramount Group Trading Up 0.2%

Shares of Paramount Group stock opened at $6.59 on Monday. Paramount Group has a fifty-two week low of $3.75 and a fifty-two week high of $7.85. The business’s fifty day moving average is $6.54 and its two-hundred day moving average is $6.49. The company has a quick ratio of 4.91, a current ratio of 4.91 and a debt-to-equity ratio of 0.91. The firm has a market cap of $1.46 billion, a PE ratio of -14.64 and a beta of 0.92.

Paramount Group (NYSE:PGRE) last announced its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Paramount Group had a negative return on equity of 2.39% and a negative net margin of 13.47%.The business had revenue of $172.96 million during the quarter, compared to the consensus estimate of $167.65 million. Analysts anticipate that Paramount Group will post 0.78 earnings per share 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.