Paramount Group, Inc. (NYSE:PGRE) Given Consensus Recommendation of “Hold” by Analysts

Paramount Group, Inc. (NYSE:PGRE) has been given a consensus rating of “Hold” by the six research firms that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $6.45.

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

Institutional Trading of Paramount Group

Several large investors have recently added to or reduced their stakes in the stock. Manchester Capital Management LLC lifted its stake in shares of Paramount Group by 99.2% during the first quarter. Manchester Capital Management LLC now owns 8,864 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 4,415 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Paramount Group by 101.0% during the 2nd quarter. Signaturefd LLC now owns 8,291 shares of the financial services provider’s stock valued at $51,000 after buying an additional 4,167 shares during the period. Wolverine Asset Management LLC lifted its position in Paramount Group by 86.6% during the 1st quarter. Wolverine Asset Management LLC now owns 12,195 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 5,659 shares in the last quarter. Levin Capital Strategies L.P. acquired a new position in Paramount Group during the 1st quarter worth approximately $64,000. Finally, Truist Financial Corp purchased a new position in Paramount Group in the 2nd quarter worth approximately $67,000. 65.64% of the stock is currently owned by institutional investors and hedge funds.

Paramount Group Price Performance

Paramount Group stock opened at $6.57 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 quick ratio of 4.91 and a current ratio of 4.91. The firm has a 50 day moving average price of $6.68 and a 200 day moving average price of $6.30. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -14.59 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 for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $172.96 million for the quarter, compared to analyst estimates of $167.65 million. Paramount Group had a negative net margin of 13.47% and a negative return on equity of 2.39%. Sell-side analysts predict that Paramount Group will post 0.78 earnings per share for the current year.

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.