Resona Asset Management Co. Ltd. Takes Position in Paramount Group, Inc. (NYSE:PGRE)

Resona Asset Management Co. Ltd. purchased a new position in shares of Paramount Group, Inc. (NYSE:PGRE) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 72,737 shares of the financial services provider’s stock, valued at approximately $353,000.

Several other large investors also recently bought and sold shares of the business. Greenleaf Trust purchased a new stake in Paramount Group in the 4th quarter valued at $63,000. Quantinno Capital Management LP acquired a new position in shares of Paramount Group during the 3rd quarter valued at about $64,000. US Bancorp DE grew its holdings in shares of Paramount Group by 33.9% in the fourth quarter. US Bancorp DE now owns 14,656 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 3,708 shares during the period. Inspire Investing LLC acquired a new stake in Paramount Group during the fourth quarter worth about $76,000. Finally, Cibc World Markets Corp purchased a new position in Paramount Group during the fourth quarter worth about $85,000. Hedge funds and other institutional investors own 65.64% of the company’s stock.

Paramount Group Price Performance

Shares of PGRE opened at $4.13 on Friday. The firm has a 50-day simple moving average of $4.35 and a two-hundred day simple moving average of $4.70. The stock has a market cap of $897.30 million, a PE ratio of -4.21 and a beta of 1.10. Paramount Group, Inc. has a 1-year low of $3.75 and a 1-year high of $5.47. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.45 and a quick ratio of 4.45.

Paramount Group (NYSE:PGRE) last posted its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. Paramount Group had a negative return on equity of 5.26% and a negative net margin of 27.92%. The firm had revenue of $186.27 million for the quarter, compared to the consensus estimate of $180.41 million. As a group, analysts forecast that Paramount Group, Inc. will post 0.78 EPS for the current year.

Insider Activity

In related news, CEO Albert P. Behler acquired 10,000 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were acquired at an average price of $4.15 per share, with a total value of $41,500.00. Following the completion of the transaction, the chief executive officer now owns 751,812 shares of the company’s stock, valued at $3,120,019.80. The trade was a 1.35 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 13.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Mizuho dropped their price target on shares of Paramount Group from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, February 25th. Morgan Stanley decreased their price objective on Paramount Group from $4.25 to $4.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 18th.

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.