Paramount Group, Inc. (NYSE:PGRE) Shares Purchased by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Paramount Group, Inc. (NYSE:PGRE) by 11.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 198,500 shares of the financial services provider’s stock after acquiring an additional 20,120 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.09% of Paramount Group worth $1,026,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PGRE. Rush Island Management LP purchased a new position in Paramount Group during the 3rd quarter worth $8,379,000. Jupiter Asset Management Ltd. boosted its holdings in shares of Paramount Group by 4.7% in the third quarter. Jupiter Asset Management Ltd. now owns 8,932,443 shares of the financial services provider’s stock valued at $41,268,000 after acquiring an additional 400,000 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Paramount Group by 5.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,603,603 shares of the financial services provider’s stock valued at $21,269,000 after acquiring an additional 250,210 shares in the last quarter. Employees Retirement System of Texas purchased a new stake in shares of Paramount Group in the third quarter valued at about $1,155,000. Finally, Presima Securities ULC boosted its holdings in shares of Paramount Group by 19.1% in the third quarter. Presima Securities ULC now owns 1,410,740 shares of the financial services provider’s stock valued at $6,518,000 after acquiring an additional 226,400 shares in the last quarter. 65.64% of the stock is currently owned by institutional investors and hedge funds.

Paramount Group Stock Down 1.5 %

Shares of NYSE PGRE opened at $4.62 on Friday. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 0.95. Paramount Group, Inc. has a 52 week low of $4.06 and a 52 week high of $5.92. The firm has a 50-day moving average price of $4.60 and a 200 day moving average price of $4.73. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of -3.85, a price-to-earnings-growth ratio of 0.25 and a beta of 1.22.

Paramount Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend was Wednesday, March 27th. Paramount Group’s payout ratio is currently -11.67%.

Wall Street Analyst Weigh In

PGRE has been the topic of several analyst reports. StockNews.com downgraded shares of Paramount Group from a “hold” rating to a “sell” rating in a report on Monday, February 19th. Evercore ISI raised shares of Paramount Group from an “underperform” rating to an “in-line” rating and set a $5.00 target price on the stock in a report on Monday, March 18th. Finally, Morgan Stanley reduced their price objective on shares of Paramount Group from $4.70 to $4.50 and set an “equal weight” rating for the company in a research note on Thursday, March 28th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $4.60.

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.