Aberdeen Group plc Increases Position in Paramount Group, Inc. $PGRE

Aberdeen Group plc lifted its position in shares of Paramount Group, Inc. (NYSE:PGRE) by 9.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 52,620 shares of the financial services provider’s stock after buying an additional 4,514 shares during the quarter. Aberdeen Group plc’s holdings in Paramount Group were worth $321,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Signaturefd LLC raised its holdings in Paramount Group by 101.0% during the second quarter. Signaturefd LLC now owns 8,291 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 4,167 shares during the period. Manchester Capital Management LLC grew its position in shares of Paramount Group by 99.2% during the first quarter. Manchester Capital Management LLC now owns 8,864 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 4,415 shares in the last quarter. Truist Financial Corp purchased a new stake in shares of Paramount Group during the second quarter worth about $67,000. Wolverine Asset Management LLC raised its stake in Paramount Group by 86.6% during the 1st quarter. Wolverine Asset Management LLC now owns 12,195 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 5,659 shares during the period. Finally, Levin Capital Strategies L.P. purchased a new position in Paramount Group in the 1st quarter worth approximately $64,000. Institutional investors own 65.64% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Evercore ISI set a $6.60 price objective on shares of Paramount Group and gave the company an “in-line” rating in a research report on Monday, September 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Paramount Group in a report on Wednesday, October 8th. Mizuho boosted their price target on shares of Paramount Group from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Monday, July 14th. Wells Fargo & Company upgraded Paramount Group from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $4.20 to $6.60 in a research report on Thursday, September 18th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Paramount Group in a report on Wednesday, September 17th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $5.61.

Paramount Group Price Performance

PGRE stock opened at $6.53 on Friday. Paramount Group, Inc. has a 52 week low of $3.75 and a 52 week high of $7.85. The firm has a market capitalization of $1.44 billion, a P/E ratio of -18.14 and a beta of 1.37. The company has a fifty day simple moving average of $6.80 and a two-hundred day simple moving average of $5.99. The company has a quick ratio of 5.91, a current ratio of 5.91 and a debt-to-equity ratio of 0.90.

Paramount Group (NYSE:PGRE) last announced its earnings results on Wednesday, July 30th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.03. Paramount Group had a negative net margin of 10.49% and a negative return on equity of 1.92%. The firm had revenue of $177.05 million for the quarter, compared to analysts’ expectations of $173.98 million. Paramount Group has set its FY 2025 guidance at 0.550-0.590 EPS. Analysts anticipate that Paramount Group, Inc. will post 0.78 earnings per share for the current fiscal year.

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.