Martingale Asset Management L P Acquires 7,501 Shares of Paramount Group, Inc. (NYSE:PGRE)

Martingale Asset Management L P raised its holdings in shares of Paramount Group, Inc. (NYSE:PGRE) by 3.1% in the third quarter, HoldingsChannel.com reports. The firm owned 247,309 shares of the financial services provider’s stock after buying an additional 7,501 shares during the period. Martingale Asset Management L P’s holdings in Paramount Group were worth $1,217,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PGRE. Long Pond Capital LP increased its stake in Paramount Group by 131.4% during the 2nd quarter. Long Pond Capital LP now owns 7,501,361 shares of the financial services provider’s stock valued at $34,731,000 after purchasing an additional 4,259,635 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Paramount Group by 398.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,388,257 shares of the financial services provider’s stock valued at $6,830,000 after purchasing an additional 1,109,485 shares in the last quarter. Millennium Management LLC increased its stake in Paramount Group by 4,007.2% during the 2nd quarter. Millennium Management LLC now owns 953,947 shares of the financial services provider’s stock valued at $4,417,000 after purchasing an additional 930,721 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Paramount Group by 782.7% during the 3rd 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 in the last quarter. Finally, Swedbank AB purchased a new position in Paramount Group during the 1st quarter worth $688,000. Institutional investors own 65.64% of the company’s stock.

Paramount Group Price Performance

PGRE opened at $4.86 on Monday. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.45 and a quick ratio of 4.45. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -4.96 and a beta of 1.25. The firm’s fifty day moving average price is $5.00 and its two-hundred day moving average price is $4.88. Paramount Group, Inc. has a 1 year low of $4.21 and a 1 year high of $5.92.

Analyst Ratings Changes

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

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.