Dark Forest Capital Management LP Sells 103,276 Shares of Paramount Group, Inc. (NYSE:PGRE)

Dark Forest Capital Management LP lowered its position in Paramount Group, Inc. (NYSE:PGRE - Free Report) by 91.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,243 shares of the financial services provider's stock after selling 103,276 shares during the quarter. Dark Forest Capital Management LP's holdings in Paramount Group were worth $47,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Allianz Asset Management GmbH boosted its holdings in Paramount Group by 48.6% in 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 during the period. Evoke Wealth LLC acquired a new stake in Paramount Group during the 4th quarter worth approximately $299,000. Centersquare Investment Management LLC bought a new stake in shares of Paramount Group in the fourth quarter worth $15,057,000. Heitman Real Estate Securities LLC increased its stake in shares of Paramount Group by 4.8% in the fourth quarter. Heitman Real Estate Securities LLC now owns 246,884 shares of the financial services provider's stock valued at $1,276,000 after buying an additional 11,375 shares during the period. Finally, Quadrature Capital Ltd boosted its position in Paramount Group by 202.6% during the fourth quarter. Quadrature Capital Ltd now owns 71,073 shares of the financial services provider's stock valued at $367,000 after acquiring an additional 47,586 shares during the last quarter. Institutional investors own 65.64% of the company's stock.

Wall Street Analyst Weigh In

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

Paramount Group Stock Down 0.6 %

Shares of PGRE stock traded down $0.03 on Tuesday, reaching $4.89. 769,609 shares of the company were exchanged, compared to its average volume of 1,144,056. Paramount Group, Inc. has a one year low of $4.06 and a one year high of $5.92. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -4.24, a PEG ratio of 0.25 and a beta of 1.25. The company has a 50-day moving average of $4.95 and a 200-day moving average of $4.78. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.39 and a quick ratio of 4.39.

Paramount Group Profile

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.