Paramount Group, Inc. (NYSE:PGRE - Get Free Report)'s stock 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 trading hands.
Analyst Upgrades and Downgrades
Several research firms have commented on PGRE. Morgan Stanley cut their target price on Paramount Group from $4.25 to $4.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Mizuho cut their price objective on shares of Paramount Group from $6.00 to $5.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 25th.
Check Out Our Latest Research Report on Paramount Group
Paramount Group Price Performance
The firm has a 50-day moving average of $4.52 and a 200-day moving average of $4.80. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.45 and a current ratio of 4.45. The firm has a market capitalization of $901.65 million, a P/E ratio of -4.23 and a beta of 1.22.
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 (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $180.41 million. As a group, analysts predict that Paramount Group, Inc. will post 0.78 EPS for the current year.
Institutional Trading of Paramount Group
A number of large investors have recently made changes to their positions in PGRE. Sterling Capital Management LLC boosted its holdings in Paramount Group by 806.3% in the fourth quarter. Sterling Capital Management LLC now owns 5,909 shares of the financial services provider's stock worth $29,000 after purchasing an additional 5,257 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Paramount Group by 226.0% in 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 purchased a new position in shares of Paramount Group in the 3rd quarter worth $37,000. Gotham Asset Management LLC bought a new stake in shares of Paramount Group in the fourth quarter worth $52,000. Finally, Commerce Bank purchased a new stake in Paramount Group during the fourth quarter valued at $54,000. 65.64% of the stock is currently owned by institutional investors.
About Paramount Group
(
Get Free Report)
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.
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