Paramount Group, Inc. (NYSE:PGRE) Sees Significant Decrease in Short Interest

Paramount Group, Inc. (NYSE:PGREGet Free Report) was the recipient of a large decline in short interest in the month of May. As of May 31st, there was short interest totalling 8,980,000 shares, a decline of 45.3% from the May 15th total of 16,410,000 shares. Approximately 4.9% of the shares of the company are short sold. Based on an average daily trading volume, of 2,620,000 shares, the days-to-cover ratio is currently 3.4 days.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wall Street Zen cut shares of Paramount Group from a “hold” rating to a “sell” rating in a research note on Wednesday, April 23rd. Morgan Stanley reaffirmed an “underweight” rating and issued a $3.25 price objective on shares of Paramount Group in a research note on Tuesday, April 15th. Mizuho reduced their price objective on shares of Paramount Group from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th. Evercore ISI upgraded shares of Paramount Group from an “in-line” rating to an “outperform” rating and increased their price target for the company from $4.50 to $8.00 in a research report on Tuesday, May 20th. Finally, Wells Fargo & Company cut their price target on shares of Paramount Group from $5.00 to $4.50 and set an “underweight” rating on the stock in a research report on Monday, May 19th. Three analysts have rated the stock with a sell rating and two have issued a buy rating to the company. According to MarketBeat.com, Paramount Group has a consensus rating of “Hold” and a consensus target price of $5.19.

View Our Latest Stock Analysis on Paramount Group

Insider Buying and Selling at Paramount Group

In other news, CEO Albert P. Behler bought 10,000 shares of the stock in a transaction dated Friday, March 21st. The shares were acquired at an average price of $4.15 per share, with a total value of $41,500.00. Following the acquisition, the chief executive officer now owns 751,812 shares in the company, valued at $3,120,019.80. This trade represents a 1.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 13.80% of the company’s stock.

Institutional Investors Weigh In On Paramount Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PGRE. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Paramount Group by 12.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 211,838 shares of the financial services provider’s stock worth $1,046,000 after buying an additional 24,241 shares during the period. Van ECK Associates Corp grew its position in Paramount Group by 23.5% during the 4th quarter. Van ECK Associates Corp now owns 45,590 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 8,684 shares during the last quarter. Rhumbline Advisers grew its position in Paramount Group by 2.3% during the 4th quarter. Rhumbline Advisers now owns 340,672 shares of the financial services provider’s stock valued at $1,683,000 after purchasing an additional 7,574 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Paramount Group during the 4th quarter valued at about $106,000. Finally, US Bancorp DE grew its position in Paramount Group by 33.9% during the 4th quarter. US Bancorp DE now owns 14,656 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 3,708 shares during the last quarter. 65.64% of the stock is currently owned by institutional investors.

Paramount Group Stock Performance

Paramount Group stock traded down $0.18 during mid-day trading on Friday, hitting $6.43. 2,087,526 shares of the company’s stock traded hands, compared to its average volume of 1,415,253. The firm has a 50 day simple moving average of $5.08 and a two-hundred day simple moving average of $4.76. Paramount Group has a fifty-two week low of $3.75 and a fifty-two week high of $6.62. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -6.56 and a beta of 1.32. 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:PGREGet Free Report) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. The company had revenue of $187.02 million during the quarter, compared to the consensus estimate of $180.79 million. Paramount Group had a negative return on equity of 5.26% and a negative net margin of 27.92%. On average, research analysts expect that Paramount Group will post 0.78 EPS for the current fiscal year.

Paramount Group Company Profile

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for Paramount Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paramount Group and related companies with MarketBeat.com's FREE daily email newsletter.