Paramount Group, Inc. (NYSE:PGRE) Holdings Increased by Quadrature Capital Ltd

Quadrature Capital Ltd grew its stake in shares of Paramount Group, Inc. (NYSE:PGRE) by 202.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 71,073 shares of the financial services provider’s stock after acquiring an additional 47,586 shares during the period. Quadrature Capital Ltd’s holdings in Paramount Group were worth $367,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Van ECK Associates Corp raised its holdings in shares of Paramount Group by 23.9% in the 4th quarter. Van ECK Associates Corp now owns 30,707 shares of the financial services provider’s stock worth $159,000 after purchasing an additional 5,914 shares in the last quarter. Employees Retirement System of Texas bought a new stake in shares of Paramount Group in the 3rd quarter worth approximately $1,155,000. Norges Bank bought a new stake in shares of Paramount Group in the 4th quarter worth approximately $54,507,000. Ballentine Partners LLC bought a new stake in shares of Paramount Group in the 4th quarter worth approximately $111,000. Finally, Metis Global Partners LLC bought a new stake in shares of Paramount Group in the 4th quarter worth approximately $58,000. 65.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on PGRE shares. StockNews.com raised shares of Paramount Group from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Evercore ISI raised shares of Paramount Group from an “underperform” rating to an “in-line” rating and set a $5.00 target price on the stock in a research report on Monday, March 18th. Finally, Morgan Stanley dropped their target price on shares of Paramount Group from $4.70 to $4.50 and set an “equal weight” rating on the stock in a research report on Thursday, March 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $4.60.

Paramount Group Stock Performance

Shares of PGRE opened at $4.59 on Tuesday. The company’s 50 day moving average price is $4.64 and its 200 day moving average price is $4.76. Paramount Group, Inc. has a 52 week low of $4.06 and a 52 week high of $5.92. The company has a market capitalization of $997.54 million, a PE ratio of -3.96, a PEG ratio of 0.23 and a beta of 1.23. The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.03 and a current ratio of 4.03.

Paramount Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.035 per share. This represents a $0.14 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Friday, June 28th. Paramount Group’s payout ratio is presently -12.07%.

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.