Paramount Group, Inc. (NYSE:PGRE) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in Paramount Group, Inc. (NYSE:PGRE - Free Report) by 25.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 644,648 shares of the financial services provider's stock after selling 219,278 shares during the period. Bank of New York Mellon Corp owned approximately 0.30% of Paramount Group worth $3,185,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PGRE. Point72 Asia Singapore Pte. Ltd. raised its holdings in Paramount Group by 226.0% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,140 shares of the financial services provider's stock worth $35,000 after purchasing an additional 4,950 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Paramount Group during the 3rd quarter valued at about $37,000. Greenleaf Trust purchased a new stake in shares of Paramount Group during the 4th quarter valued at about $63,000. Quantinno Capital Management LP purchased a new stake in shares of Paramount Group during the 3rd quarter valued at about $64,000. Finally, Inspire Investing LLC purchased a new position in shares of Paramount Group in the fourth quarter worth approximately $76,000. Hedge funds and other institutional investors own 65.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PGRE shares. Mizuho decreased their target price on shares of Paramount Group from $6.00 to $5.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 25th. Morgan Stanley decreased their price target on shares of Paramount Group from $4.25 to $4.00 and set an "equal weight" rating on the stock in a research note on Tuesday.

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Paramount Group Stock Performance

Shares of NYSE PGRE traded up $0.07 during midday trading on Thursday, reaching $4.22. 1,233,416 shares of the stock were exchanged, compared to its average volume of 970,952. The firm has a market cap of $916.88 million, a price-to-earnings ratio of -4.30 and a beta of 1.22. Paramount Group, Inc. has a twelve month low of $3.96 and a twelve month high of $5.47. The firm has a 50-day simple moving average of $4.54 and a two-hundred day simple moving average of $4.81. The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.91.

Paramount Group (NYSE:PGRE - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.02. Paramount Group had a negative return on equity of 5.26% and a negative net margin of 27.92%. The company had revenue of $186.27 million for the quarter, compared to analyst estimates of $180.41 million. As a group, analysts anticipate that Paramount Group, Inc. will post 0.78 EPS for the current fiscal 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.