Paramount Group (NYSE:PGRE) Shares Gap Down - Here's Why

Paramount Group, Inc. (NYSE:PGRE - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $4.24, but opened at $4.03. Paramount Group shares last traded at $4.16, with a volume of 194,730 shares changing hands.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PGRE. Mizuho reduced their price target on shares of Paramount Group from $6.00 to $5.00 and set an "outperform" rating for the company in a research report on Tuesday, February 25th. Morgan Stanley reissued an "underweight" rating and issued a $3.25 target price on shares of Paramount Group in a research report on Tuesday, April 15th.

Paramount Group Price Performance

The company has a market capitalization of $937.19 million, a PE ratio of -4.36 and a beta of 1.10. The company's 50-day simple moving average is $4.29 and its 200-day simple moving average is $4.67. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.45 and a current ratio of 4.45.

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

Insider Transactions at Paramount Group

In other Paramount Group news, CEO Albert P. Behler acquired 10,000 shares of the business's stock in a transaction on Friday, March 21st. The stock was purchased at an average price of $4.15 per share, for a total transaction of $41,500.00. Following the completion of the transaction, the chief executive officer now owns 751,812 shares of the company's stock, valued at $3,120,019.80. The trade was a 1.35 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 13.80% of the company's stock.

Institutional Investors Weigh In On Paramount Group

Several institutional investors have recently made changes to their positions in the stock. FMR LLC lifted its stake in shares of Paramount Group by 42.5% in the third quarter. FMR LLC now owns 22,695 shares of the financial services provider's stock valued at $112,000 after purchasing an additional 6,768 shares during the period. Jane Street Group LLC lifted its position in shares of Paramount Group by 94.8% during the 3rd quarter. Jane Street Group LLC now owns 350,559 shares of the financial services provider's stock valued at $1,725,000 after acquiring an additional 170,639 shares during the period. Barclays PLC boosted its stake in shares of Paramount Group by 95.5% during the 3rd quarter. Barclays PLC now owns 455,700 shares of the financial services provider's stock worth $2,242,000 after acquiring an additional 222,656 shares in the last quarter. Geode Capital Management LLC increased its stake in Paramount Group by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,695,561 shares of the financial services provider's stock valued at $23,107,000 after purchasing an additional 345,450 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new position in Paramount Group during the third quarter worth $643,000. 65.64% of the stock is currently owned by hedge funds and other institutional investors.

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.