US Bancorp DE Buys 3,708 Shares of Paramount Group, Inc. (NYSE:PGRE)

US Bancorp DE increased its stake in Paramount Group, Inc. (NYSE:PGRE) by 33.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 14,656 shares of the financial services provider’s stock after purchasing an additional 3,708 shares during the quarter. US Bancorp DE’s holdings in Paramount Group were worth $72,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quadrature Capital Ltd boosted its position in Paramount Group by 19.4% during the 3rd quarter. Quadrature Capital Ltd now owns 17,642 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 2,864 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Paramount Group by 226.0% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,140 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 4,950 shares in the last quarter. Metis Global Partners LLC boosted its holdings in Paramount Group by 38.8% during the third quarter. Metis Global Partners LLC now owns 18,020 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 5,039 shares during the last quarter. FMR LLC grew its position in Paramount Group by 42.5% in the third quarter. FMR LLC now owns 22,695 shares of the financial services provider’s stock valued at $112,000 after purchasing an additional 6,768 shares in the last quarter. Finally, Algert Global LLC increased its stake in Paramount Group by 2.3% in the 3rd quarter. Algert Global LLC now owns 327,690 shares of the financial services provider’s stock valued at $1,612,000 after buying an additional 7,437 shares during the last quarter. Institutional investors and hedge funds own 65.64% of the company’s stock.

Paramount Group Price Performance

NYSE:PGRE opened at $4.12 on Tuesday. The stock has a market capitalization of $895.13 million, a PE ratio of -4.20 and a beta of 1.22. Paramount Group, Inc. has a 1-year low of $3.96 and a 1-year high of $5.47. The firm has a fifty day simple moving average of $4.57 and a 200 day simple moving average of $4.82. 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 (NYSE:PGRE) last announced its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The company had revenue of $186.27 million during the quarter, compared to the consensus estimate of $180.41 million. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. On average, research analysts expect that Paramount Group, Inc. will post 0.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Mizuho reduced their price objective on shares of Paramount Group from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $4.63.

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.