Paramount Group, Inc. (NYSE:PGRE) Receives Average Rating of “Hold” from Brokerages

Paramount Group, Inc. (NYSE:PGRE) has earned a consensus recommendation of “Hold” from the six brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $6.45.

Several equities research analysts recently commented on PGRE shares. BTIG Research reissued a “neutral” rating on shares of Paramount Group in a research note on Wednesday, September 17th. Evercore ISI set a $6.60 price objective on shares of Paramount Group and gave the stock an “in-line” rating in a research note on Monday, September 22nd. Wells Fargo & Company raised shares of Paramount Group from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $4.20 to $6.60 in a research note on Thursday, September 18th. Morgan Stanley set a $6.60 price objective on shares of Paramount Group and gave the stock an “equal weight” rating in a research note on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Paramount Group in a research note on Wednesday, October 8th.

Paramount Group Price Performance

Shares of NYSE PGRE opened at $6.56 on Thursday. Paramount Group has a 1 year low of $3.75 and a 1 year high of $7.85. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.91 and a quick ratio of 4.91. The company’s 50-day moving average is $6.74 and its 200 day moving average is $6.23. The stock has a market capitalization of $1.46 billion, a P/E ratio of -14.58 and a beta of 1.32.

Paramount Group (NYSE:PGRE) last announced its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. Paramount Group had a negative net margin of 13.47% and a negative return on equity of 2.39%. The company had revenue of $172.96 million for the quarter, compared to analysts’ expectations of $167.65 million. On average, sell-side analysts expect that Paramount Group will post 0.78 earnings per share for the current year.

Institutional Investors Weigh In On Paramount Group

Hedge funds have recently bought and sold shares of the business. Signaturefd LLC boosted its stake in Paramount Group by 101.0% during the second quarter. Signaturefd LLC now owns 8,291 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 4,167 shares in the last quarter. Manchester Capital Management LLC lifted its stake in shares of Paramount Group by 99.2% in the first quarter. Manchester Capital Management LLC now owns 8,864 shares of the financial services provider’s stock worth $38,000 after buying an additional 4,415 shares in the last quarter. Truist Financial Corp bought a new position in shares of Paramount Group in the second quarter worth approximately $67,000. Wolverine Asset Management LLC lifted its stake in shares of Paramount Group by 86.6% in the first quarter. Wolverine Asset Management LLC now owns 12,195 shares of the financial services provider’s stock worth $52,000 after buying an additional 5,659 shares in the last quarter. Finally, Ethic Inc. bought a new position in shares of Paramount Group in the second quarter worth approximately $76,000. Institutional investors own 65.64% of the company’s stock.

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.