HBK Investments L P Sells 422,657 Shares of Paramount Group, Inc. (NYSE:PGRE)

HBK Investments L P lowered its stake in shares of Paramount Group, Inc. (NYSE:PGRE) by 15.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,396,622 shares of the financial services provider’s stock after selling 422,657 shares during the period. HBK Investments L P’s holdings in Paramount Group were worth $11,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. increased its position in Paramount Group by 782.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,825 shares of the financial services provider’s stock worth $1,756,000 after purchasing an additional 316,399 shares during the last quarter. Swedbank AB purchased a new stake in shares of Paramount Group in the first quarter valued at $688,000. Price T Rowe Associates Inc. MD raised its stake in shares of Paramount Group by 5.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 129,471 shares of the financial services provider’s stock valued at $608,000 after acquiring an additional 6,583 shares during the period. Millennium Management LLC raised its stake in shares of Paramount Group by 4,007.2% in the second quarter. Millennium Management LLC now owns 953,947 shares of the financial services provider’s stock valued at $4,417,000 after acquiring an additional 930,721 shares during the period. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of Paramount Group by 23.1% in the first quarter. B. Riley Wealth Advisors Inc. now owns 160,000 shares of the financial services provider’s stock valued at $745,000 after acquiring an additional 30,000 shares during the period. Institutional investors own 65.64% of the company’s stock.

Analyst Ratings Changes

Separately, Wells Fargo & Company increased their target price on shares of Paramount Group from $3.50 to $4.00 and gave the company an “underweight” rating in a research note on Wednesday, September 11th.

Paramount Group Stock Performance

PGRE stock opened at $4.89 on Friday. Paramount Group, Inc. has a 12 month low of $4.21 and a 12 month high of $5.92. The firm’s 50-day moving average is $5.00 and its 200 day moving average is $4.88. The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.91.

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.