Paramount Group, Inc. (NYSE:PGRE) Stock Holdings Increased by Long Pond Capital LP

Long Pond Capital LP raised its position in Paramount Group, Inc. (NYSE:PGRE - Free Report) by 131.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,501,361 shares of the financial services provider's stock after purchasing an additional 4,259,635 shares during the quarter. Paramount Group comprises approximately 1.9% of Long Pond Capital LP's investment portfolio, making the stock its 17th biggest holding. Long Pond Capital LP owned 3.45% of Paramount Group worth $34,731,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Centersquare Investment Management LLC bought a new position in Paramount Group in the 4th quarter valued at about $15,057,000. Millennium Management LLC boosted its holdings in shares of Paramount Group by 4,007.2% in the second quarter. Millennium Management LLC now owns 953,947 shares of the financial services provider's stock valued at $4,417,000 after acquiring an additional 930,721 shares in the last quarter. Jupiter Asset Management Ltd. raised its holdings in Paramount Group by 7.3% during the first quarter. Jupiter Asset Management Ltd. now owns 9,077,760 shares of the financial services provider's stock worth $42,575,000 after purchasing an additional 621,125 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in Paramount Group by 48.6% during the 4th quarter. Allianz Asset Management GmbH now owns 585,079 shares of the financial services provider's stock valued at $3,025,000 after purchasing an additional 191,454 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of Paramount Group during the 1st quarter valued at $688,000. Institutional investors own 65.64% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company raised their target price on Paramount Group from $3.50 to $4.00 and gave the company an "underweight" rating in a research note on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $4.70.

Paramount Group Price Performance

Shares of NYSE PGRE traded down $0.02 during mid-day trading on Friday, reaching $4.95. The company had a trading volume of 676,090 shares, compared to its average volume of 1,145,350. The company has a 50-day moving average price of $4.96 and a two-hundred day moving average price of $4.78. The stock has a market cap of $1.08 billion, a PE ratio of -4.27, a P/E/G ratio of 0.25 and a beta of 1.25. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 0.91. Paramount Group, Inc. has a 1-year low of $4.06 and a 1-year high of $5.92.

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.