Morgan Stanley Issues Pessimistic Forecast for Paramount Group (NYSE:PGRE) Stock Price

Paramount Group (NYSE:PGRE) had its price target reduced by equities research analysts at Morgan Stanley from $4.25 to $4.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective would suggest a potential downside of 3.26% from the stock’s current price.

Separately, Mizuho dropped their price objective on Paramount Group from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $4.50.

Paramount Group Stock Up 0.6 %

NYSE:PGRE traded up $0.03 during mid-day trading on Tuesday, reaching $4.14. The stock had a trading volume of 352,302 shares, compared to its average volume of 968,110. The business’s 50 day moving average is $4.57 and its 200 day moving average is $4.82. Paramount Group has a fifty-two week low of $3.96 and a fifty-two week high of $5.47. The stock has a market cap of $899.48 million, a P/E ratio of -4.22 and a beta of 1.22. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.45 and a quick ratio of 4.45.

Paramount Group (NYSE:PGRE) last released its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.19 EPS for the quarter, topping 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, sell-side analysts predict that Paramount Group will post 0.78 earnings per share for the current year.

Institutional Investors Weigh In On Paramount Group

Several hedge funds have recently modified their holdings of the business. Quantinno Capital Management LP boosted its position in shares of Paramount Group by 22.0% in the fourth quarter. Quantinno Capital Management LP now owns 15,771 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 2,845 shares during the period. Quadrature Capital Ltd boosted its position in shares of Paramount Group by 19.4% in the third quarter. Quadrature Capital Ltd now owns 17,642 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 2,864 shares during the period. Metis Global Partners LLC boosted its position in shares of Paramount Group by 16.3% in the fourth quarter. Metis Global Partners LLC now owns 20,955 shares of the financial services provider’s stock valued at $104,000 after acquiring an additional 2,935 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in Paramount Group by 1.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 239,200 shares of the financial services provider’s stock worth $1,182,000 after purchasing an additional 3,000 shares during the period. Finally, Nebula Research & Development LLC lifted its position in Paramount Group by 7.0% in the fourth quarter. Nebula Research & Development LLC now owns 54,852 shares of the financial services provider’s stock worth $271,000 after purchasing an additional 3,611 shares during the period. 65.64% of the stock is owned by institutional investors.

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.