Paramount Group (NYSE:PGRE) Sets New 1-Year High – Still a Buy?

Paramount Group, Inc. (NYSE:PGRE) reached a new 52-week high during trading on Monday . The company traded as high as $5.75 and last traded at $5.59, with a volume of 1651453 shares trading hands. The stock had previously closed at $4.78.

Wall Street Analyst Weigh In

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

Paramount Group Price Performance

The company has a market capitalization of $1.23 billion, a PE ratio of -5.72 and a beta of 1.12. The firm’s 50-day moving average is $4.32 and its 200-day moving average is $4.60. 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 (NYSE:PGRE) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.17 EPS for the quarter, meeting the consensus estimate of $0.17. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. The company had revenue of $187.02 million for the quarter, compared to the consensus estimate of $180.79 million. Equities analysts predict that Paramount Group, Inc. will post 0.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Paramount Group

In other news, CEO Albert P. Behler bought 10,000 shares of the stock in a transaction dated Friday, March 21st. The stock was purchased at an average price 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 $3,120,019.80. The trade was a 1.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.80% of the stock is owned by corporate insiders.

Institutional Trading of Paramount Group

A number of hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC lifted its position in Paramount Group by 146.1% during the first quarter. Jane Street Group LLC now owns 219,417 shares of the financial services provider’s stock valued at $943,000 after acquiring an additional 130,255 shares during the last quarter. Great Lakes Advisors LLC raised its stake in shares of Paramount Group by 64.5% during the 1st quarter. Great Lakes Advisors LLC now owns 30,512 shares of the financial services provider’s stock worth $131,000 after buying an additional 11,964 shares during the period. Nissay Asset Management Corp Japan ADV boosted its stake in Paramount Group by 19.5% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 29,360 shares of the financial services provider’s stock worth $126,000 after buying an additional 4,790 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Paramount Group by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 109,563 shares of the financial services provider’s stock worth $471,000 after buying an additional 4,558 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Paramount Group in the first quarter valued at approximately $322,000. 65.64% of the stock is 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.