Paramount Group, Inc. (NYSE:PGRE – Get Free Report) has earned a consensus rating of “Reduce” from the five research firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $4.60.
PGRE has been the topic of a number of recent research reports. Evercore ISI upgraded shares of Paramount Group from an “underperform” rating to an “in-line” rating and set a $5.00 price target on the stock in a report on Monday, March 18th. Morgan Stanley cut their price target on Paramount Group from $4.70 to $4.50 and set an “equal weight” rating on the stock in a report on Thursday, March 28th. Finally, StockNews.com upgraded Paramount Group from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd.
Check Out Our Latest Stock Analysis on PGRE
Paramount Group Stock Performance
Paramount Group Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be given a dividend of $0.035 per share. This represents a $0.14 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend is Friday, June 28th. Paramount Group’s dividend payout ratio is presently -12.07%.
Institutional Trading of Paramount Group
A number of hedge funds and other institutional investors have recently bought and sold shares of PGRE. Swedbank AB purchased a new position in shares of Paramount Group during the 1st quarter valued at $688,000. B. Riley Wealth Advisors Inc. grew its position in Paramount Group by 23.1% during the first quarter. B. Riley Wealth Advisors Inc. now owns 160,000 shares of the financial services provider’s stock worth $745,000 after buying an additional 30,000 shares in the last quarter. Caxton Associates LP increased its stake in Paramount Group by 9.0% in the 1st quarter. Caxton Associates LP now owns 230,361 shares of the financial services provider’s stock worth $1,080,000 after acquiring an additional 18,936 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Paramount Group by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 129,471 shares of the financial services provider’s stock worth $608,000 after acquiring an additional 6,583 shares during the last quarter. Finally, Long Pond Capital LP purchased a new stake in shares of Paramount Group in the 1st quarter valued at about $15,204,000. 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.
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