Paramount Group (NYSE:PGRE) Sees Strong Trading Volume – Still a Buy?

Paramount Group, Inc. (NYSE:PGRE) saw unusually-high trading volume on Wednesday . Approximately 2,872,245 shares changed hands during mid-day trading, an increase of 4% from the previous session’s volume of 2,763,129 shares.The stock last traded at $6.5550 and had previously closed at $6.55.

Wall Street Analyst Weigh In

A number of research firms have commented on PGRE. Weiss Ratings reissued a “sell (d)” rating on shares of Paramount Group in a report on Wednesday. Morgan Stanley set a $6.60 price target on Paramount Group and gave the stock an “equal weight” rating in a research note on Wednesday, October 22nd. BTIG Research reiterated a “neutral” rating on shares of Paramount Group in a research report on Wednesday, September 17th. Evercore ISI set a $6.60 target price on shares of Paramount Group and gave the stock an “in-line” rating in a report on Monday, September 22nd. Finally, Wells Fargo & Company upgraded shares of Paramount Group from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $4.20 to $6.60 in a research report on Thursday, September 18th. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.45.

Paramount Group Stock Up 0.1%

The business has a 50-day moving average price of $6.58 and a 200 day moving average price of $6.38. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $1.46 billion, a P/E ratio of -14.59 and a beta of 1.32.

Paramount Group (NYSE:PGRE) last released its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Paramount Group had a negative net margin of 13.47% and a negative return on equity of 2.39%. The company had revenue of $172.96 million for the quarter, compared to the consensus estimate of $167.65 million. On average, equities analysts expect that Paramount Group, Inc. will post 0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Allianz Asset Management GmbH bought a new position in Paramount Group during the first quarter valued at $462,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Paramount Group in the 1st quarter worth approximately $6,164,000. GSA Capital Partners LLP raised its position in shares of Paramount Group by 102.8% in the 1st quarter. GSA Capital Partners LLP now owns 402,937 shares of the financial services provider’s stock worth $1,733,000 after acquiring an additional 204,248 shares in the last quarter. XTX Topco Ltd raised its holdings in Paramount Group by 249.9% in the first quarter. XTX Topco Ltd now owns 162,968 shares of the financial services provider’s stock worth $701,000 after purchasing an additional 116,394 shares in the last quarter. Finally, Manchester Capital Management LLC lifted 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 valued at $38,000 after buying an additional 4,415 shares during the last quarter. Institutional investors own 65.64% of the company’s stock.

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.