Paramount Group (NYSE:PGRE) Shares Gap Down to $5.17

Paramount Group, Inc. (NYSE:PGRE) shares gapped down before the market opened on Friday . The stock had previously closed at $5.17, but opened at $5.04. Paramount Group shares last traded at $5.11, with a volume of 440,704 shares.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company increased their target price on shares of Paramount Group from $3.50 to $4.00 and gave the stock an “underweight” rating in a report on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Paramount Group currently has an average rating of “Hold” and a consensus target price of $4.70.

Paramount Group Stock Down 0.6 %

The firm has a market cap of $1.12 billion, a PE ratio of -4.46, a PEG ratio of 0.24 and a beta of 1.25. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 0.91. The firm has a 50 day moving average price of $4.98 and a 200-day moving average price of $4.76.

Institutional Investors Weigh In On Paramount Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Van ECK Associates Corp grew its stake in shares of Paramount Group by 7.0% during the second quarter. Van ECK Associates Corp now owns 33,719 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 2,202 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Paramount Group by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 33,259 shares of the financial services provider’s stock worth $156,000 after acquiring an additional 2,617 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Paramount Group by 2.5% during the 2nd quarter. Bank of Montreal Can now owns 116,636 shares of the financial services provider’s stock worth $540,000 after acquiring an additional 2,811 shares in the last quarter. Ballentine Partners LLC increased its holdings in shares of Paramount Group by 17.7% in the 1st quarter. Ballentine Partners LLC now owns 25,217 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 3,789 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of Paramount Group by 8.6% during the 2nd quarter. Arizona State Retirement System now owns 48,673 shares of the financial services provider’s stock worth $225,000 after acquiring an additional 3,873 shares in the last quarter. 65.64% of the stock is currently owned by institutional investors and hedge funds.

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.