Paramount Group's (PGRE) "Underweight" Rating Reiterated at Morgan Stanley

Paramount Group (NYSE:PGRE - Get Free Report)'s stock had its "underweight" rating reiterated by research analysts at Morgan Stanley in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. They currently have a $3.25 target price on the financial services provider's stock. Morgan Stanley's price target suggests a potential downside of 23.98% from the stock's current price.

Separately, Mizuho decreased their price objective on shares of Paramount Group from $6.00 to $5.00 and set an "outperform" rating on the stock in a report on Tuesday, February 25th.

Paramount Group Stock Performance

PGRE stock traded up $0.11 during trading on Tuesday, hitting $4.28. The company had a trading volume of 7,038,413 shares, compared to its average volume of 1,160,908. The firm has a 50-day moving average price of $4.29 and a 200-day moving average price of $4.68. Paramount Group has a 1-year low of $3.75 and a 1-year high of $5.47. The firm has a market cap of $937.19 million, a PE ratio of -4.36 and a beta of 1.10. 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 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.02. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. The firm had revenue of $186.27 million during the quarter, compared to the consensus estimate of $180.41 million. On average, analysts expect that Paramount Group will post 0.78 earnings per share for the current year.

Insider Transactions at Paramount Group

In related news, CEO Albert P. Behler bought 10,000 shares of Paramount Group stock in a transaction that occurred on Friday, March 21st. The shares were purchased at an average price of $4.15 per share, with a total value of $41,500.00. Following the purchase, the chief executive officer now owns 751,812 shares in the company, valued at $3,120,019.80. This represents a 1.35 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 13.80% of the company's stock.

Institutional Trading of Paramount Group

Several institutional investors and hedge funds have recently made changes to their positions in PGRE. Cohen & Steers Inc. acquired a new stake in shares of Paramount Group during the 4th quarter worth about $9,231,000. Solel Partners LP acquired a new stake in Paramount Group during the fourth quarter worth approximately $6,719,000. Long Pond Capital LP grew its stake in Paramount Group by 12.5% in the 4th quarter. Long Pond Capital LP now owns 10,053,335 shares of the financial services provider's stock worth $49,663,000 after acquiring an additional 1,116,395 shares during the period. Northern Trust Corp raised its holdings in Paramount Group by 40.1% in the 4th quarter. Northern Trust Corp now owns 2,891,068 shares of the financial services provider's stock valued at $14,282,000 after acquiring an additional 827,187 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Paramount Group during the 4th quarter worth $2,701,000. 65.64% of the stock is currently owned by hedge funds and other institutional investors.

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.