Paramount Group (NYSE:PGRE) Shares Gap Up - What's Next?

Paramount Group, Inc. (NYSE:PGRE - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $4.11, but opened at $4.35. Paramount Group shares last traded at $4.22, with a volume of 113,542 shares.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Morgan Stanley reduced their target price on Paramount Group from $4.25 to $4.00 and set an "equal weight" rating on the stock in a report on Tuesday. Mizuho dropped their price objective on Paramount Group from $6.00 to $5.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 25th.

Paramount Group Trading Up 2.1 %

The company has a market capitalization of $903.83 million, a P/E ratio of -4.24 and a beta of 1.22. The stock's 50 day moving average is $4.54 and its 200-day moving average is $4.81. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.45 and a quick ratio of 4.45.

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

Remove Ads

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PGRE. Sterling Capital Management LLC increased its stake in Paramount Group by 806.3% during the fourth quarter. Sterling Capital Management LLC now owns 5,909 shares of the financial services provider's stock worth $29,000 after acquiring an additional 5,257 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew 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 during the last quarter. Point72 DIFC Ltd acquired a new stake in Paramount Group during the 3rd quarter worth about $37,000. Gotham Asset Management LLC acquired a new stake in Paramount Group during the 4th quarter worth about $52,000. Finally, Commerce Bank acquired a new position in shares of Paramount Group in the 4th quarter valued at about $54,000. Hedge funds and other institutional investors own 65.64% of the company's stock.

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.