Shares of Paramount Group Inc (NYSE:PGRE) reached a new 52-week low during trading on Friday . The stock traded as low as $15.06 and last traded at $15.15, with a volume of 814300 shares changing hands. The stock had previously closed at $15.21.
Several analysts have commented on the stock. TheStreet lowered shares of Paramount Group from a “c” rating to a “d+” rating in a research report on Thursday, November 16th. Zacks Investment Research lowered shares of Paramount Group from a “buy” rating to a “hold” rating in a research report on Tuesday, November 28th. Four research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $16.40.
The firm has a market cap of $3,620.00, a price-to-earnings ratio of 40.95, a PEG ratio of 3.32 and a beta of 0.80.
Paramount Group (NYSE:PGRE) last posted its quarterly earnings data on Monday, November 6th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.01. Paramount Group had a net margin of 12.29% and a return on equity of 1.76%. The firm had revenue of $179.80 million for the quarter, compared to the consensus estimate of $172.85 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. equities research analysts expect that Paramount Group Inc will post 0.9 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.095 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.38 annualized dividend and a dividend yield of 2.51%. Paramount Group’s dividend payout ratio (DPR) is currently 102.70%.
Several institutional investors and hedge funds have recently bought and sold shares of PGRE. Vanguard Group Inc. increased its holdings in shares of Paramount Group by 8.1% during the second quarter. Vanguard Group Inc. now owns 30,137,386 shares of the financial services provider’s stock valued at $482,198,000 after acquiring an additional 2,248,078 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Paramount Group by 13.0% during the second quarter. BlackRock Inc. now owns 13,109,633 shares of the financial services provider’s stock valued at $209,754,000 after acquiring an additional 1,504,277 shares in the last quarter. Balyasny Asset Management LLC acquired a new position in shares of Paramount Group during the second quarter valued at about $11,988,000. Northern Trust Corp increased its holdings in shares of Paramount Group by 31.3% during the second quarter. Northern Trust Corp now owns 1,894,274 shares of the financial services provider’s stock valued at $30,309,000 after acquiring an additional 451,599 shares in the last quarter. Finally, Asset Management One Co. Ltd. increased its holdings in shares of Paramount Group by 28,976.5% during the third quarter. Asset Management One Co. Ltd. now owns 431,204 shares of the financial services provider’s stock valued at $6,868,000 after acquiring an additional 429,721 shares in the last quarter. Hedge funds and other institutional investors own 62.20% of the company’s stock.
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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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