Brokerages Set Paramount Group, Inc. (NYSE:PGRE) PT at $4.60

Shares of Paramount Group, Inc. (NYSE:PGRE) have been given an average rating of “Reduce” by the five brokerages that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $4.60.

PGRE has been the topic of a number of analyst reports. StockNews.com upgraded shares of Paramount Group from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Morgan Stanley lowered their price objective on Paramount Group from $4.70 to $4.50 and set an “equal weight” rating for the company in a research report on Thursday, March 28th. Finally, Evercore ISI raised Paramount Group from an “underperform” rating to an “in-line” rating and set a $5.00 target price on the stock in a research note on Monday, March 18th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Swedbank AB purchased a new position in Paramount Group during the first quarter valued at $688,000. B. Riley Wealth Advisors Inc. grew its position in shares of Paramount Group by 23.1% during the first quarter. B. Riley Wealth Advisors Inc. now owns 160,000 shares of the financial services provider’s stock valued at $745,000 after purchasing an additional 30,000 shares in the last quarter. Caxton Associates LP grew its holdings in Paramount Group by 9.0% during the 1st quarter. Caxton Associates LP now owns 230,361 shares of the financial services provider’s stock valued at $1,080,000 after buying an additional 18,936 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Paramount Group by 5.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 129,471 shares of the financial services provider’s stock worth $608,000 after purchasing an additional 6,583 shares during the last quarter. Finally, Long Pond Capital LP bought a new stake in shares of Paramount Group in the 1st quarter worth about $15,204,000. 65.64% of the stock is owned by hedge funds and other institutional investors.

Paramount Group Stock Down 0.6 %

Shares of NYSE PGRE opened at $4.61 on Friday. The stock has a market capitalization of $1.00 billion, a P/E ratio of -3.97, a PEG ratio of 0.23 and a beta of 1.23. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.03 and a quick ratio of 4.03. Paramount Group has a one year low of $4.06 and a one year high of $5.92. The firm’s 50 day simple moving average is $4.65 and its two-hundred day simple moving average is $4.77.

Paramount Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.14 annualized dividend and a dividend yield of 3.04%. Paramount Group’s payout ratio is -12.07%.

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.