50,253 Shares in Paramount Group Inc (PGRE) Acquired by GSA Capital Partners LLP
GSA Capital Partners LLP bought a new stake in Paramount Group Inc (NYSE:PGRE) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 50,253 shares of the financial services provider’s stock, valued at approximately $804,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PGRE. Oppenheimer Asset Management Inc. grew its stake in shares of Paramount Group by 1.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 7,625 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 75 shares during the period. The Manufacturers Life Insurance Company grew its stake in Paramount Group by 2.0% in the second quarter. The Manufacturers Life Insurance Company now owns 25,165 shares of the financial services provider’s stock valued at $403,000 after acquiring an additional 492 shares during the period. Public Employees Retirement Association of Colorado grew its stake in Paramount Group by 9.2% in the second quarter. Public Employees Retirement Association of Colorado now owns 6,238 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 526 shares during the period. Voya Investment Management LLC grew its stake in Paramount Group by 2.4% in the second quarter. Voya Investment Management LLC now owns 55,571 shares of the financial services provider’s stock valued at $889,000 after acquiring an additional 1,317 shares during the period. Finally, AMP Capital Investors Ltd grew its stake in Paramount Group by 4.3% in the third quarter. AMP Capital Investors Ltd now owns 80,019 shares of the financial services provider’s stock valued at $1,280,000 after acquiring an additional 3,300 shares during the period. 62.20% of the stock is owned by institutional investors.
A number of research analysts have issued reports on PGRE shares. Zacks Investment Research cut Paramount Group from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. TheStreet cut Paramount Group from a “c” rating to a “d+” rating in a research note on Thursday, November 16th. Four analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $16.40.
Shares of Paramount Group Inc (PGRE) opened at $15.84 on Thursday. The company has a market capitalization of $3,750.00, a PE ratio of 42.81, a PEG ratio of 3.48 and a beta of 0.80. Paramount Group Inc has a twelve month low of $15.14 and a twelve month high of $17.58.
Paramount Group (NYSE:PGRE) last issued its quarterly earnings results on Monday, November 6th. The financial services provider reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The company had revenue of $179.80 million for the quarter, compared to analyst estimates of $172.85 million. Paramount Group had a return on equity of 1.76% and a net margin of 12.29%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 earnings per share. equities analysts forecast that Paramount Group Inc will post 0.9 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be issued a $0.095 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 2.40%. Paramount Group’s dividend payout ratio (DPR) is 102.70%.
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Paramount Group Company Profile
Paramount Group, Inc is a fully-integrated real estate investment trust (REIT) focused on owning, operating, managing, acquiring and redeveloping Class A office properties in select central business district submarkets of New York City, Washington, District of Columbia (DC) and San Francisco. The Company conducts its business through, and substantially all its interests in properties and investments are held by, Paramount Group Operating Partnership LP (the Operating Partnership).
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