Paramount Group, Inc. (NYSE:PGRE) Receives $4.60 Average PT from Analysts

Paramount Group, Inc. (NYSE:PGRE) has been assigned a consensus recommendation of “Reduce” from the five ratings firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $4.60.

Several research analysts have recently issued reports on PGRE shares. Morgan Stanley lowered their price objective on Paramount Group from $4.70 to $4.50 and set an “equal weight” rating for the company in a research note on Thursday, March 28th. StockNews.com lowered shares of Paramount Group from a “hold” rating to a “sell” rating in a report on Monday, February 19th. Finally, Evercore ISI raised shares of Paramount Group from an “underperform” rating to an “in-line” rating and set a $5.00 price objective on the stock in a research note on Monday, March 18th.

Paramount Group Trading Down 0.7 %

Shares of NYSE:PGRE opened at $4.45 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 4.61 and a quick ratio of 4.61. Paramount Group has a one year low of $4.06 and a one year high of $5.92. The firm has a 50 day simple moving average of $4.60 and a 200 day simple moving average of $4.72.

Paramount Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.14 annualized dividend and a dividend yield of 3.15%. Paramount Group’s dividend payout ratio is currently -11.67%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Paramount Group in the 4th quarter worth $109,167,000. Centersquare Investment Management LLC purchased a new stake in Paramount Group in the 4th quarter valued at about $15,057,000. Bank of America Corp DE increased its position in shares of Paramount Group by 1,607.2% during the first quarter. Bank of America Corp DE now owns 2,103,046 shares of the financial services provider’s stock valued at $9,590,000 after acquiring an additional 1,979,857 shares during the last quarter. Rush Island Management LP purchased a new position in shares of Paramount Group in the 3rd quarter worth about $8,379,000. Finally, State Street Corp lifted its stake in Paramount Group by 14.6% in the first quarter. State Street Corp now owns 9,398,448 shares of the financial services provider’s stock valued at $103,244,000 after purchasing an additional 1,195,131 shares during the last quarter. 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.