Paramount Group, Inc. (NYSE:PGRE) Short Interest Down 23.4% in October

Paramount Group, Inc. (NYSE:PGRE) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 3,150,000 shares, a drop of 23.4% from the October 15th total of 4,110,000 shares. Approximately 1.8% of the company’s stock are short sold. Based on an average daily volume of 832,100 shares, the short-interest ratio is currently 3.8 days.

Wall Street Analyst Weigh In

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.

Institutional Trading of Paramount Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp raised its position in Paramount Group by 7.0% in the 2nd quarter. Van ECK Associates Corp now owns 33,719 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 2,202 shares in the last quarter. ProShare Advisors LLC grew its position in Paramount Group by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 33,259 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 2,617 shares during the last quarter. Bank of Montreal Can raised its stake in Paramount Group by 2.5% during the 2nd quarter. Bank of Montreal Can now owns 116,636 shares of the financial services provider’s stock valued at $540,000 after acquiring an additional 2,811 shares during the last quarter. Quadrature Capital Ltd grew its position in Paramount Group by 19.4% in the 3rd quarter. Quadrature Capital Ltd now owns 17,642 shares of the financial services provider’s stock valued at $87,000 after buying an additional 2,864 shares during the last quarter. Finally, abrdn plc lifted its position in Paramount Group by 10.5% in the third quarter. abrdn plc now owns 36,830 shares of the financial services provider’s stock valued at $181,000 after purchasing an additional 3,514 shares during the period. Institutional investors and hedge funds own 65.64% of the company’s stock.

Paramount Group Price Performance

Shares of NYSE:PGRE traded down $0.21 during trading on Friday, reaching $4.82. The stock had a trading volume of 1,217,454 shares, compared to its average volume of 940,140. The business has a fifty day moving average price of $5.03 and a 200-day moving average price of $4.88. The stock has a market cap of $1.05 billion, a PE ratio of -4.92 and a beta of 1.25. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.45 and a current ratio of 4.45. Paramount Group has a 1-year low of $4.21 and a 1-year high of $5.92.

Paramount Group Company Profile

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.