Paramount Group, Inc. (NYSE:PGRE) Short Interest Down 17.8% in October

Paramount Group, Inc. (NYSE:PGRE - Get Free Report) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totalling 4,110,000 shares, a decline of 17.8% from the September 30th total of 5,000,000 shares. Currently, 2.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 916,500 shares, the days-to-cover ratio is currently 4.5 days.

Institutional Trading of Paramount Group

Several institutional investors and hedge funds have recently bought and sold shares of PGRE. 1620 Investment Advisors Inc. bought a new position in Paramount Group in the 2nd quarter worth $52,000. Manchester Capital Management LLC boosted its position in Paramount Group by 139.1% in the first quarter. Manchester Capital Management LLC now owns 12,137 shares of the financial services provider's stock valued at $57,000 after buying an additional 7,061 shares in the last quarter. Marshall Wace LLP acquired a new position in Paramount Group in the second quarter valued at about $74,000. MQS Management LLC boosted its position in Paramount Group by 98.7% in the first quarter. MQS Management LLC now owns 27,514 shares of the financial services provider's stock valued at $129,000 after buying an additional 13,665 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Paramount Group in the third quarter valued at about $136,000. Institutional investors and hedge funds own 65.64% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company boosted their target price on shares of Paramount Group from $3.50 to $4.00 and gave the company an "underweight" rating in a research note on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $4.38.

Paramount Group Trading Down 1.2 %

Shares of PGRE traded down $0.06 during midday trading on Monday, hitting $5.01. 737,983 shares of the stock traded hands, compared to its average volume of 1,106,141. Paramount Group has a 1-year low of $4.06 and a 1-year high of $5.92. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.39 and a current ratio of 4.39. The business's 50 day moving average price is $5.00 and its two-hundred day moving average price is $4.84.

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.