Presima Securities ULC Lowers Stake in Paramount Group, Inc. (NYSE:PGRE)

Presima Securities ULC reduced its position in Paramount Group, Inc. (NYSE:PGRE - Free Report) by 53.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 594,495 shares of the financial services provider's stock after selling 676,051 shares during the period. Paramount Group accounts for about 0.6% of Presima Securities ULC's investment portfolio, making the stock its 22nd biggest position. Presima Securities ULC owned about 0.27% of Paramount Group worth $2,925,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. 1620 Investment Advisors Inc. purchased a new stake in Paramount Group during the second quarter valued at approximately $52,000. Manchester Capital Management LLC raised its position in Paramount Group by 139.1% during the first quarter. Manchester Capital Management LLC now owns 12,137 shares of the financial services provider's stock valued at $57,000 after purchasing an additional 7,061 shares during the period. Marshall Wace LLP purchased a new stake in Paramount Group during the second quarter valued at approximately $74,000. Ballentine Partners LLC raised its position in Paramount Group by 17.7% during the first quarter. Ballentine Partners LLC now owns 25,217 shares of the financial services provider's stock valued at $118,000 after purchasing an additional 3,789 shares during the period. Finally, MQS Management LLC raised its position in Paramount Group by 98.7% during the first quarter. MQS Management LLC now owns 27,514 shares of the financial services provider's stock valued at $129,000 after purchasing an additional 13,665 shares during the period. 65.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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 note on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Paramount Group presently has an average rating of "Hold" and a consensus target price of $4.70.

Paramount Group Trading Up 1.2 %

NYSE:PGRE traded up $0.06 during midday trading on Thursday, hitting $5.27. The stock had a trading volume of 683,437 shares, compared to its average volume of 1,122,056. Paramount Group, Inc. has a one year low of $4.06 and a one year high of $5.92. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of -4.49 and a beta of 1.25. The stock has a 50-day moving average of $4.93 and a 200 day moving average of $4.81. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 0.91.

Paramount Group Company 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.