Arrowstreet Capital Limited Partnership Has $30.09 Million Stock Holdings in Paramount Group, Inc. $PGRE

Arrowstreet Capital Limited Partnership grew its holdings in Paramount Group, Inc. (NYSE:PGRE) by 40.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,933,121 shares of the financial services provider’s stock after purchasing an additional 1,419,763 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 2.24% of Paramount Group worth $30,092,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of PGRE. Long Pond Capital LP grew its holdings in shares of Paramount Group by 16.8% during the 1st quarter. Long Pond Capital LP now owns 11,737,433 shares of the financial services provider’s stock worth $50,471,000 after purchasing an additional 1,684,098 shares in the last quarter. Nuveen LLC bought a new stake in shares of Paramount Group during the first quarter worth $6,096,000. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Paramount Group by 34.4% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 1,926,588 shares of the financial services provider’s stock worth $11,752,000 after acquiring an additional 493,207 shares during the last quarter. HBK Investments L P lifted its stake in shares of Paramount Group by 16.5% during the first quarter. HBK Investments L P now owns 2,791,774 shares of the financial services provider’s stock valued at $12,005,000 after acquiring an additional 395,152 shares during the period. Finally, Jane Street Group LLC boosted its stake in shares of Paramount Group by 146.1% in the 1st quarter. Jane Street Group LLC now owns 219,417 shares of the financial services provider’s stock valued at $943,000 after purchasing an additional 130,255 shares during the last quarter. Institutional investors and hedge funds own 65.64% of the company’s stock.

Paramount Group Stock Performance

Shares of NYSE:PGRE opened at $6.59 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.91 and a quick ratio of 4.91. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -14.63 and a beta of 0.93. Paramount Group, Inc. has a 1 year low of $3.75 and a 1 year high of $7.85. The company’s 50 day simple moving average is $6.55 and its 200 day simple moving average is $6.53.

Paramount Group (NYSE:PGRE) last posted its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Paramount Group had a negative net margin of 13.47% and a negative return on equity of 2.39%. The company had revenue of $172.96 million for the quarter, compared to the consensus estimate of $167.65 million. As a group, research analysts predict that Paramount Group, Inc. will post 0.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Morgan Stanley set a $6.60 price objective on Paramount Group and gave the company an “equal weight” rating in a report on Wednesday, October 22nd. BTIG Research reaffirmed a “neutral” rating on shares of Paramount Group in a research report on Wednesday, September 17th. Wells Fargo & Company raised shares of Paramount Group from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $4.20 to $6.60 in a research note on Thursday, September 18th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Paramount Group in a research report on Monday, December 1st. Finally, Evercore ISI set a $6.60 price objective on Paramount Group and gave the company an “in-line” rating in a research note on Monday, September 22nd. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Paramount Group currently has a consensus rating of “Hold” and a consensus target price of $6.45.

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.