Cubist Systematic Strategies LLC Takes Position in Paramount Group, Inc. (NYSE:PGRE)

Cubist Systematic Strategies LLC bought a new position in Paramount Group, Inc. (NYSE:PGRE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 43,118 shares of the financial services provider’s stock, valued at approximately $200,000.

A number of other hedge funds also recently made changes to their positions in the company. Jupiter Asset Management Ltd. lifted its position in shares of Paramount Group by 7.3% in the first quarter. Jupiter Asset Management Ltd. now owns 9,077,760 shares of the financial services provider’s stock worth $42,575,000 after buying an additional 621,125 shares in the last quarter. Long Pond Capital LP lifted its position in shares of Paramount Group by 131.4% in the second quarter. Long Pond Capital LP now owns 7,501,361 shares of the financial services provider’s stock worth $34,731,000 after buying an additional 4,259,635 shares in the last quarter. Centersquare Investment Management LLC lifted its position in shares of Paramount Group by 4.1% in the first quarter. Centersquare Investment Management LLC now owns 3,031,919 shares of the financial services provider’s stock worth $14,068,000 after buying an additional 119,590 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Paramount Group by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,310,207 shares of the financial services provider’s stock worth $10,696,000 after buying an additional 15,806 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Paramount Group by 6.5% in the second quarter. Bank of New York Mellon Corp now owns 1,043,027 shares of the financial services provider’s stock worth $4,829,000 after buying an additional 63,789 shares in the last quarter. 65.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Paramount Group Trading Up 1.0 %

PGRE opened at $5.05 on Tuesday. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -4.35 and a beta of 1.25. The stock’s 50 day moving average price is $4.91 and its 200-day moving average price is $4.80. Paramount Group, Inc. has a one year low of $4.06 and a one year high of $5.92. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.39 and a current ratio of 4.39.

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.