Algert Global LLC Increases Position in Paramount Group, Inc. (NYSE:PGRE)

Algert Global LLC raised its position in shares of Paramount Group, Inc. (NYSE:PGRE) by 2.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 327,690 shares of the financial services provider’s stock after purchasing an additional 7,437 shares during the period. Algert Global LLC’s holdings in Paramount Group were worth $1,612,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Long Pond Capital LP raised its holdings in shares of Paramount Group by 131.4% during the 2nd quarter. Long Pond Capital LP now owns 7,501,361 shares of the financial services provider’s stock valued at $34,731,000 after buying an additional 4,259,635 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Paramount Group by 0.7% during 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 acquiring an additional 15,806 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Paramount Group by 6.5% during 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 acquiring an additional 63,789 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Paramount Group by 4,007.2% in the 2nd quarter. Millennium Management LLC now owns 953,947 shares of the financial services provider’s stock worth $4,417,000 after acquiring an additional 930,721 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Paramount Group by 782.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,825 shares of the financial services provider’s stock valued at $1,756,000 after purchasing an additional 316,399 shares in the last quarter. Institutional investors own 65.64% of the company’s stock.

Paramount Group Stock Performance

Shares of PGRE stock opened at $4.90 on Thursday. The company has a market capitalization of $1.06 billion, a P/E ratio of -4.99 and a beta of 1.25. Paramount Group, Inc. has a fifty-two week low of $4.21 and a fifty-two week high of $5.92. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.45 and a current ratio of 4.45. The stock has a 50 day moving average price of $5.00 and a two-hundred day moving average price of $4.88.

Analyst Ratings Changes

Separately, Wells Fargo & Company boosted their price target on shares of Paramount Group from $3.50 to $4.00 and gave the stock an “underweight” rating in a research note on Wednesday, September 11th.

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.