Millennium Management LLC Grows Position in Paramount Group, Inc. (NYSE:PGRE)

Millennium Management LLC boosted its stake in Paramount Group, Inc. (NYSE:PGRE - Free Report) by 4,007.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 953,947 shares of the financial services provider's stock after acquiring an additional 930,721 shares during the period. Millennium Management LLC owned 0.44% of Paramount Group worth $4,417,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PGRE. Centersquare Investment Management LLC boosted its holdings in shares of Paramount Group by 4.1% during the 1st quarter. Centersquare Investment Management LLC now owns 3,031,919 shares of the financial services provider's stock worth $14,068,000 after buying an additional 119,590 shares in the last quarter. Swedbank AB acquired a new position in shares of Paramount Group during the first quarter worth approximately $688,000. BNP Paribas Financial Markets raised its position in shares of Paramount Group by 17.7% during the first quarter. BNP Paribas Financial Markets now owns 111,072 shares of the financial services provider's stock worth $521,000 after purchasing an additional 16,717 shares during the period. Quadrature Capital Ltd raised its position in shares of Paramount Group by 202.6% during the fourth quarter. Quadrature Capital Ltd now owns 71,073 shares of the financial services provider's stock worth $367,000 after purchasing an additional 47,586 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Paramount Group by 5.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 129,471 shares of the financial services provider's stock worth $608,000 after purchasing an additional 6,583 shares during the period. 65.64% of the stock is currently owned by institutional investors.

Paramount Group Stock Performance

Shares of PGRE stock traded up $0.06 on Friday, hitting $5.00. 664,246 shares of the stock were exchanged, compared to its average volume of 1,123,547. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $1.09 billion, a PE ratio of -4.31 and a beta of 1.25. Paramount Group, Inc. has a one year low of $4.06 and a one year high of $5.92. The firm's 50 day moving average is $4.90 and its two-hundred day moving average is $4.80.

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 stock an "underweight" rating in a research report on Wednesday, September 11th. Two 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 currently has a consensus rating of "Hold" and a consensus target price of $4.70.

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. 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.