ValuEngine upgraded shares of Paramount Group (NYSE:PGRE) from a sell rating to a hold rating in a report released on Tuesday, May 29th.
A number of other research firms have also weighed in on PGRE. Zacks Investment Research raised shares of Paramount Group from a hold rating to a buy rating and set a $16.00 price objective for the company in a research report on Wednesday, April 25th. Mizuho reissued a sell rating and issued a $14.00 price objective on shares of Paramount Group in a research report on Friday, February 23rd. Finally, Goldman Sachs Group raised shares of Paramount Group from a sell rating to a neutral rating and set a $16.00 price objective for the company in a research report on Tuesday, February 6th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $15.13.
Shares of NYSE:PGRE traded up $0.11 during midday trading on Tuesday, hitting $15.54. The stock had a trading volume of 47,193 shares, compared to its average volume of 1,601,931. The company has a market cap of $3.70 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 5.13 and a beta of 0.68. Paramount Group has a 1 year low of $13.70 and a 1 year high of $16.79.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 13th. Shareholders of record on Friday, June 29th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $0.40 annualized dividend and a yield of 2.57%. Paramount Group’s dividend payout ratio is currently 44.94%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. IBM Retirement Fund purchased a new stake in Paramount Group during the fourth quarter worth approximately $181,000. Two Sigma Securities LLC purchased a new position in shares of Paramount Group in the fourth quarter valued at $190,000. Xact Kapitalforvaltning AB purchased a new position in shares of Paramount Group in the fourth quarter valued at $230,000. Synovus Financial Corp boosted its stake in shares of Paramount Group by 24.2% in the first quarter. Synovus Financial Corp now owns 20,704 shares of the financial services provider’s stock valued at $299,000 after purchasing an additional 4,037 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in shares of Paramount Group by 16.8% in the first quarter. Hsbc Holdings PLC now owns 23,554 shares of the financial services provider’s stock valued at $335,000 after purchasing an additional 3,381 shares during the period. Institutional investors own 63.16% of the company’s stock.
About Paramount Group
Headquartered in New York City, Paramount Group, Inc 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 City, Washington, DC and San Francisco.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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