Paramount Group, Inc. $PGRE Shares Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC increased its position in shares of Paramount Group, Inc. (NYSE:PGRE) by 235.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 217,391 shares of the financial services provider’s stock after buying an additional 152,663 shares during the period. Squarepoint Ops LLC owned about 0.10% of Paramount Group worth $1,326,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its stake in shares of Paramount Group by 2.0% during the second quarter. State of Alaska Department of Revenue now owns 90,268 shares of the financial services provider’s stock valued at $550,000 after acquiring an additional 1,768 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Paramount Group by 3.4% in the second quarter. Daiwa Securities Group Inc. now owns 64,009 shares of the financial services provider’s stock valued at $390,000 after purchasing an additional 2,100 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Paramount Group by 3.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 69,114 shares of the financial services provider’s stock valued at $422,000 after purchasing an additional 2,350 shares in the last quarter. Teacher Retirement System of Texas grew its stake in Paramount Group by 10.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 28,217 shares of the financial services provider’s stock valued at $172,000 after purchasing an additional 2,778 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Paramount Group by 1.1% during the 2nd quarter. Rhumbline Advisers now owns 335,214 shares of the financial services provider’s stock worth $2,045,000 after purchasing an additional 3,760 shares during the last quarter. Institutional investors and hedge funds own 65.64% of the company’s stock.

Paramount Group Stock Performance

Shares of PGRE opened at $6.60 on Friday. The stock has a market capitalization of $1.46 billion, a PE ratio of -14.67 and a beta of 0.93. The business’s fifty day moving average price is $6.56 and its 200 day moving average price is $6.57. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.91 and a quick ratio of 4.91. Paramount Group, Inc. has a 12-month low of $3.75 and a 12-month high of $7.85.

Paramount Group (NYSE:PGRE) last issued its earnings results on Wednesday, October 29th. The financial services provider reported $0.14 earnings per share for the quarter, topping 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 analysts’ expectations of $167.65 million. Equities research analysts forecast that Paramount Group, Inc. will post 0.78 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PGRE shares. Morgan Stanley set a $6.60 price target on shares of Paramount Group and gave the stock an “equal weight” rating in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Paramount Group in a research note on Monday, December 15th. BTIG Research reissued a “neutral” rating on shares of Paramount Group in a report on Wednesday, September 17th. Evercore ISI set a $6.60 target price on shares of Paramount Group and gave the stock an “in-line” rating in a research report on Monday, September 22nd. Finally, Wells Fargo & Company upgraded shares of Paramount Group from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $4.20 to $6.60 in a research note on Thursday, September 18th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Paramount Group has a consensus rating of “Hold” and a consensus target price of $6.45.

Paramount Group Company Profile

Paramount Group, Inc (NYSE: PGRE) is a publicly traded real estate investment trust focused on the ownership, management and development of Class A office properties in key U.S. urban markets. The company’s portfolio comprises premier office buildings strategically located in gateway cities, where it seeks to deliver high-quality workspace solutions and drive long-term value through active asset management, redevelopment initiatives and sustainable operating practices.

Tracing its origins to 1978, Paramount Group converted to a real estate investment trust in 1997 and subsequently completed its initial public offering.