Zacks Investment Research cut shares of Paramount Group (NYSE:PGRE) from a buy rating to a hold rating in a report released on Tuesday.
According to Zacks, “Paramount Group, Inc. is a real estate investment trust focused on owning, operating and managing Class A office properties. It provides asset management, leasing, acquisitions, redevelopment and financing. The Company owns properties in New York City, Washington D.C. and San Francisco. Paramount Group, Inc. is based in the United States. “
Separately, TheStreet lowered Paramount Group from a c rating to a d+ rating in a research note on Thursday, November 16th. Four investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $16.42.
Shares of Paramount Group (PGRE) opened at $16.08 on Tuesday. Paramount Group has a 1-year low of $15.14 and a 1-year high of $17.58. The company has a market capitalization of $3,918.00, a P/E ratio of 19.20, a price-to-earnings-growth ratio of 3.09 and a beta of 0.80.
Paramount Group (NYSE:PGRE) last issued its quarterly earnings data on Monday, November 6th. The financial services provider reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. The company had revenue of $179.80 million for the quarter, compared to analyst estimates of $172.85 million. Paramount Group had a return on equity of 1.76% and a net margin of 12.29%. Paramount Group’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company earned $0.20 earnings per share. research analysts anticipate that Paramount Group will post 0.89 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement Association of Colorado boosted its stake in Paramount Group by 9.2% during the second quarter. Public Employees Retirement Association of Colorado now owns 6,238 shares of the financial services provider’s stock worth $100,000 after buying an additional 526 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Paramount Group by 1.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 7,625 shares of the financial services provider’s stock worth $122,000 after buying an additional 75 shares during the last quarter. Synovus Financial Corp purchased a new stake in Paramount Group in the second quarter valued at $256,000. GAM Holding AG raised its position in Paramount Group by 37.7% in the second quarter. GAM Holding AG now owns 16,813 shares of the financial services provider’s stock valued at $269,000 after purchasing an additional 4,600 shares during the period. Finally, Teton Advisors Inc. raised its position in Paramount Group by 37.7% in the third quarter. Teton Advisors Inc. now owns 17,900 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 4,900 shares during the period. 62.64% of the stock is currently owned by institutional investors.
About Paramount Group
Paramount Group, Inc is a fully-integrated real estate investment trust (REIT) focused on owning, operating, managing, acquiring and redeveloping Class A office properties in select central business district submarkets of New York City, Washington, District of Columbia (DC) and San Francisco. The Company conducts its business through, and substantially all its interests in properties and investments are held by, Paramount Group Operating Partnership LP (the Operating Partnership).
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