Paramount Group, Inc. (NYSE:PGRE) Receives Consensus Rating of “Hold” from Brokerages

Paramount Group, Inc. (NYSE:PGRE) has received a consensus recommendation of “Hold” from the six brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $6.45.

Several brokerages have recently commented on PGRE. Morgan Stanley set a $6.60 price objective on Paramount Group and gave the company an “equal weight” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company upgraded shares of Paramount Group from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $4.20 to $6.60 in a research report on Thursday, September 18th. 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 reaffirmed a “sell (d)” rating on shares of Paramount Group in a research note on Monday, December 15th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Paramount Group in a report on Wednesday, September 17th.

Hedge Funds Weigh In On Paramount Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. PenderFund Capital Management Ltd. purchased a new position in shares of Paramount Group during the third quarter valued at about $33,000. Signaturefd LLC boosted its position in Paramount Group by 101.0% during the 2nd quarter. Signaturefd LLC now owns 8,291 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 4,167 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Paramount Group during the 3rd quarter worth approximately $65,000. Truist Financial Corp purchased a new position in shares of Paramount Group during the 2nd quarter worth approximately $67,000. Finally, Ethic Inc. bought a new position in shares of Paramount Group in the 2nd quarter worth approximately $76,000. 65.64% of the stock is currently owned by institutional investors.

Paramount Group Stock Performance

Paramount Group stock opened at $6.60 on Friday. Paramount Group has a fifty-two week low of $3.75 and a fifty-two week high of $7.85. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.91 and a current ratio of 4.91. The stock has a market cap of $1.46 billion, a P/E ratio of -14.67 and a beta of 0.93. The firm’s fifty day moving average price is $6.57 and its 200-day moving average price is $6.58.

Paramount Group (NYSE:PGRE) last released its earnings results 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 for the quarter, compared to analysts’ expectations of $167.65 million. On average, equities research analysts expect that Paramount Group will post 0.78 earnings per share for the current fiscal year.

About Paramount Group

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.