Paramount Group, Inc. (NYSE:PGRE) CEO Albert P. Behler Acquires 10,000 Shares

Paramount Group, Inc. (NYSE:PGRE) CEO Albert P. Behler bought 10,000 shares of the stock in a transaction dated Friday, March 21st. The stock was purchased at an average price of $4.15 per share, with a total value of $41,500.00. Following the purchase, the chief executive officer now owns 751,812 shares in the company, valued at $3,120,019.80. This trade represents a 1.35 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Paramount Group Price Performance

NYSE:PGRE traded down $0.03 during trading hours on Tuesday, reaching $4.17. The stock had a trading volume of 1,383,641 shares, compared to its average volume of 970,463. The stock has a market capitalization of $907.09 million, a PE ratio of -4.26 and a beta of 1.22. Paramount Group, Inc. has a 52 week low of $3.96 and a 52 week high of $5.47. The company has a 50 day moving average price of $4.51 and a two-hundred day moving average price of $4.79. 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 (NYSE:PGRE) last posted its 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. The firm had revenue of $186.27 million during the quarter, compared to analyst estimates of $180.41 million. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. As a group, sell-side analysts anticipate that Paramount Group, Inc. will post 0.78 earnings per share for the current fiscal year.

Institutional Trading of Paramount Group

Hedge funds have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. raised its position in Paramount Group by 782.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,825 shares of the financial services provider’s stock valued at $1,756,000 after purchasing an additional 316,399 shares during the period. Intech Investment Management LLC bought a new position in shares of Paramount Group during the 3rd quarter valued at approximately $175,000. Algert Global LLC raised its holdings in Paramount Group by 2.3% during the 3rd quarter. Algert Global LLC now owns 327,690 shares of the financial services provider’s stock valued at $1,612,000 after buying an additional 7,437 shares during the period. Swedbank AB lifted its position in Paramount Group by 25.2% in the third quarter. Swedbank AB now owns 142,466 shares of the financial services provider’s stock worth $701,000 after buying an additional 28,650 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in Paramount Group by 14.5% during the third quarter. Daiwa Securities Group Inc. now owns 59,856 shares of the financial services provider’s stock worth $294,000 after buying an additional 7,600 shares during the period. 65.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PGRE has been the topic of several analyst reports. Morgan Stanley lowered their price objective on Paramount Group from $4.25 to $4.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 18th. Mizuho cut their price objective on shares of Paramount Group from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, February 25th.

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.