Brokerages Set Paramount Group, Inc. (NYSE:PGRE) Price Target at $4.70

Paramount Group, Inc. (NYSE:PGRE) has been given a consensus rating of “Reduce” by the five brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $4.70.

Separately, Wells Fargo & Company raised their price objective on Paramount Group from $3.50 to $4.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 11th.

Paramount Group Stock Performance

Paramount Group stock opened at $4.94 on Friday. Paramount Group has a fifty-two week low of $4.06 and a fifty-two week high of $5.92. The firm’s 50 day simple moving average is $4.90 and its 200-day simple moving average is $4.79. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.39 and a quick ratio of 4.39. The company has a market cap of $1.07 billion, a P/E ratio of -4.26, a price-to-earnings-growth ratio of 0.24 and a beta of 1.25.

Institutional Trading of Paramount Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Centersquare Investment Management LLC raised its holdings in Paramount Group by 4.1% in the first quarter. Centersquare Investment Management LLC now owns 3,031,919 shares of the financial services provider’s stock worth $14,068,000 after purchasing an additional 119,590 shares during the period. Swedbank AB acquired a new stake in Paramount Group during the 1st quarter worth $688,000. BNP Paribas Financial Markets lifted its holdings in Paramount Group by 17.7% during the first quarter. BNP Paribas Financial Markets now owns 111,072 shares of the financial services provider’s stock worth $521,000 after acquiring an additional 16,717 shares in the last quarter. Quadrature Capital Ltd grew its stake in Paramount Group by 202.6% in the fourth quarter. Quadrature Capital Ltd now owns 71,073 shares of the financial services provider’s stock valued at $367,000 after acquiring an additional 47,586 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of 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 acquiring an additional 6,583 shares in the last quarter. 65.64% of the stock is owned by institutional investors.

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.