Geode Capital Management LLC Has $23.11 Million Position in Paramount Group, Inc. (NYSE:PGRE)

Geode Capital Management LLC lifted its stake in shares of Paramount Group, Inc. (NYSE:PGRE) by 7.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 4,695,561 shares of the financial services provider’s stock after acquiring an additional 345,450 shares during the period. Geode Capital Management LLC’s holdings in Paramount Group were worth $23,107,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PGRE. Bank of New York Mellon Corp increased its holdings in Paramount Group by 6.5% in the 2nd 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 purchasing an additional 63,789 shares in the last quarter. Van ECK Associates Corp grew its holdings 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 during the last quarter. Arizona State Retirement System increased its stake in shares of Paramount Group by 8.6% in the second quarter. Arizona State Retirement System now owns 48,673 shares of the financial services provider’s stock valued at $225,000 after buying an additional 3,873 shares during the period. Ballentine Partners LLC raised its holdings in Paramount Group by 42.8% in the 2nd quarter. Ballentine Partners LLC now owns 36,018 shares of the financial services provider’s stock valued at $167,000 after buying an additional 10,801 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Paramount Group by 0.7% during the 2nd 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 during the period. 65.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Paramount Group Trading Down 1.2 %

NYSE PGRE opened at $4.85 on Friday. The firm has a market capitalization of $1.05 billion, a PE ratio of -4.95 and a beta of 1.23. The business’s 50-day moving average price is $4.93 and its two-hundred day moving average price is $4.91. The company has a current ratio of 4.45, a quick ratio of 4.45 and a debt-to-equity ratio of 0.91. Paramount Group, Inc. has a 12 month low of $4.21 and a 12 month high of $5.47.

Paramount Group Profile

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.