Paramount Group (NYSE:PGRE) Shares Gap Up – Still a Buy?

Paramount Group, Inc. (NYSE:PGRE) gapped up prior to trading on Tuesday . The stock had previously closed at $5.41, but opened at $5.56. Paramount Group shares last traded at $5.65, with a volume of 887,310 shares.

Wall Street Analyst Weigh In

Several analysts have commented on PGRE shares. Wells Fargo & Company cut their target price on Paramount Group from $5.00 to $4.50 and set an “underweight” rating on the stock in a research note on Monday. Evercore ISI raised Paramount Group from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $4.50 to $8.00 in a research report on Tuesday. StockNews.com downgraded shares of Paramount Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 23rd. Mizuho cut their price target on Paramount Group from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, February 25th. Finally, Morgan Stanley restated an “underweight” rating and set a $3.25 price objective on shares of Paramount Group in a research report on Tuesday, April 15th. Three analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $5.19.

Paramount Group Stock Performance

The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.45 and a current ratio of 4.45. The business’s fifty day simple moving average is $4.32 and its 200-day simple moving average is $4.60. The company has a market capitalization of $1.24 billion, a P/E ratio of -5.76 and a beta of 1.12.

Paramount Group (NYSE:PGRE) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. Paramount Group had a negative return on equity of 5.26% and a negative net margin of 27.92%. The business had revenue of $187.02 million for the quarter, compared to analysts’ expectations of $180.79 million. As a group, equities analysts anticipate that Paramount Group, Inc. will post 0.78 earnings per share for the current fiscal year.

Insider Activity at Paramount Group

In other news, CEO Albert P. Behler purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were bought at an average cost of $4.15 per share, for a total transaction of $41,500.00. Following the acquisition, the chief executive officer now owns 751,812 shares of the company’s stock, valued at approximately $3,120,019.80. This trade represents a 1.35% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 13.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Paramount Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC boosted its stake in shares of Paramount Group by 95.5% during the third quarter. Barclays PLC now owns 455,700 shares of the financial services provider’s stock valued at $2,242,000 after purchasing an additional 222,656 shares during the period. Franklin Resources Inc. purchased a new position in Paramount Group during the third quarter valued at approximately $643,000. SG Americas Securities LLC increased its holdings in Paramount Group by 206.3% during the fourth quarter. SG Americas Securities LLC now owns 84,790 shares of the financial services provider’s stock valued at $419,000 after buying an additional 57,105 shares during the period. Inspire Investing LLC bought a new position in shares of Paramount Group in the 4th quarter worth $76,000. Finally, Swedbank AB raised its holdings in Paramount Group by 23.0% in the fourth quarter. Swedbank AB now owns 175,182 shares of the financial services provider’s stock worth $865,000 after purchasing an additional 32,716 shares in the last quarter. 65.64% of the stock is currently owned by hedge funds and other institutional investors.

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.