Morgan Stanley Cuts Paramount Group (NYSE:PGRE) Price Target to $4.00

Paramount Group (NYSE:PGRE) had its price target cut by Morgan Stanley from $4.25 to $4.00 in a research note published on Tuesday, MarketBeat Ratings reports. They currently have an equal weight rating on the financial services provider’s stock.

Separately, Mizuho decreased their price target on shares of Paramount Group from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th.

Paramount Group Price Performance

Shares of NYSE PGRE opened at $4.22 on Tuesday. Paramount Group has a twelve month low of $3.96 and a twelve month high of $5.47. The company has a market cap of $916.88 million, a PE ratio of -4.30 and a beta of 1.22. The business’s 50 day moving average price is $4.53 and its two-hundred day moving average price is $4.80. The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.91.

Paramount Group (NYSE:PGRE) last posted its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. Paramount Group had a negative return on equity of 5.26% and a negative net margin of 27.92%. The business had revenue of $186.27 million for the quarter, compared to analysts’ expectations of $180.41 million. On average, analysts predict that Paramount Group will post 0.78 EPS for the current year.

Institutional Investors Weigh In On Paramount Group

A number of hedge funds and other institutional investors have recently modified their holdings of PGRE. Vanguard Group Inc. increased its position in Paramount Group by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 26,922,796 shares of the financial services provider’s stock worth $132,999,000 after acquiring an additional 477,940 shares during the period. Long Pond Capital LP increased its holdings in shares of Paramount Group by 12.5% during the fourth quarter. Long Pond Capital LP now owns 10,053,335 shares of the financial services provider’s stock worth $49,663,000 after purchasing an additional 1,116,395 shares during the period. Legal & General Group Plc raised its position in shares of Paramount Group by 2.9% in the fourth quarter. Legal & General Group Plc now owns 4,860,475 shares of the financial services provider’s stock valued at $24,011,000 after buying an additional 135,654 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Paramount Group by 7.9% in the third quarter. Geode Capital Management LLC now owns 4,695,561 shares of the financial services provider’s stock valued at $23,107,000 after buying an additional 345,450 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in Paramount Group by 11.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,895,573 shares of the financial services provider’s stock worth $14,304,000 after buying an additional 292,392 shares in the last quarter. Institutional investors and hedge funds own 65.64% of the company’s stock.

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.