Short Interest in Paramount Group, Inc. (NYSE:PGRE) Declines By 23.4%

Paramount Group, Inc. (NYSE:PGRE - Get Free Report) was the recipient of a large drop in short interest in October. As of October 31st, there was short interest totalling 3,150,000 shares, a drop of 23.4% from the October 15th total of 4,110,000 shares. Based on an average trading volume of 832,100 shares, the days-to-cover ratio is currently 3.8 days. Currently, 1.8% of the shares of the stock are short sold.

Paramount Group Trading Down 4.2 %

NYSE:PGRE traded down $0.21 on Friday, reaching $4.82. The stock had a trading volume of 1,217,454 shares, compared to its average volume of 940,140. Paramount Group has a 12-month low of $4.21 and a 12-month high of $5.92. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -4.92 and a beta of 1.25. The firm's fifty day moving average is $5.03 and its two-hundred day moving average is $4.88. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.45 and a quick ratio of 4.45.

Institutional Trading of Paramount Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of 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 acquiring an additional 4,950 shares during the period. Point72 DIFC Ltd purchased a new position in Paramount Group during the third quarter worth approximately $37,000. 1620 Investment Advisors Inc. acquired a new position in shares of Paramount Group in the 2nd quarter valued at $52,000. Quantinno Capital Management LP purchased a new stake in shares of Paramount Group during the 3rd quarter valued at $64,000. Finally, Ground Swell Capital LLC acquired a new stake in shares of Paramount Group during the 3rd quarter worth $67,000. 65.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company raised their price objective on shares of Paramount Group from $3.50 to $4.00 and gave the stock an "underweight" rating in a research note on Wednesday, September 11th.

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.

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