Paramount Group (NYSE:PGRE) Sets New 12-Month Low - Here's Why

Shares of Paramount Group, Inc. (NYSE:PGRE - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $4.22 and last traded at $4.30, with a volume of 65519 shares trading hands. The stock had previously closed at $4.37.

Analyst Upgrades and Downgrades

Separately, Mizuho decreased their price objective on Paramount Group from $6.00 to $5.00 and set an "outperform" rating for the company in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Paramount Group currently has an average rating of "Hold" and a consensus price target of $4.63.

Paramount Group Stock Down 0.1 %

The company has a market cap of $932.11 million, a price-to-earnings ratio of -4.37 and a beta of 1.22. The company has a current ratio of 4.45, a quick ratio of 4.45 and a debt-to-equity ratio of 0.91. The business has a fifty day moving average of $4.68 and a two-hundred day moving average of $4.86.

Paramount Group (NYSE:PGRE - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.02. The company had revenue of $186.27 million during the quarter, compared to analysts' expectations of $180.41 million. Paramount Group had a negative return on equity of 5.26% and a negative net margin of 27.92%. As a group, equities analysts anticipate that Paramount Group, Inc. will post 0.78 EPS for the current fiscal year.

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Institutional Investors Weigh In On Paramount Group

Large investors have recently bought and sold shares of the company. Sterling Capital Management LLC increased its stake in Paramount Group by 806.3% during the 4th quarter. Sterling Capital Management LLC now owns 5,909 shares of the financial services provider's stock worth $29,000 after buying an additional 5,257 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its stake in Paramount Group by 226.0% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,140 shares of the financial services provider's stock worth $35,000 after buying an additional 4,950 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Paramount Group during the 3rd quarter worth approximately $37,000. Gotham Asset Management LLC purchased a new stake in Paramount Group during the 4th quarter worth approximately $52,000. Finally, Commerce Bank purchased a new stake in Paramount Group during the 4th quarter worth approximately $54,000. 65.64% of the stock is currently owned by hedge funds and other institutional investors.

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.