Paramount Group, Inc. (NYSE:PGRE – Get Free Report) saw an uptick in trading volume on Tuesday . 3,550,908 shares changed hands during trading, an increase of 191% from the previous session’s volume of 1,219,378 shares.The stock last traded at $5.17 and had previously closed at $5.28.
Analysts Set New Price Targets
Separately, StockNews.com upgraded Paramount Group from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.60.
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Paramount Group Price Performance
Paramount Group Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.14 dividend on an annualized basis and a dividend yield of 2.70%. Paramount Group’s dividend payout ratio (DPR) is -12.07%.
Institutional Trading of Paramount Group
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Manchester Capital Management LLC grew its stake in shares of Paramount Group by 785.9% in the 4th quarter. Manchester Capital Management LLC now owns 5,076 shares of the financial services provider’s stock worth $26,000 after buying an additional 4,503 shares during the last quarter. Metis Global Partners LLC purchased a new stake in shares of Paramount Group in the 4th quarter worth approximately $58,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Paramount Group in the 2nd quarter worth approximately $52,000. Great Lakes Advisors LLC purchased a new stake in shares of Paramount Group in the 4th quarter worth approximately $85,000. Finally, Ballentine Partners LLC purchased a new stake in shares of Paramount Group in the 4th quarter worth approximately $111,000. 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.
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