Morgan Stanley Lowers Paramount Group (NYSE:PGRE) Price Target to $4.00

Paramount Group (NYSE:PGRE) had its price objective lowered by investment analysts at Morgan Stanley from $4.25 to $4.00 in a note issued to investors on Tuesday, MarketBeat.com reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price indicates a potential downside of 3.73% from the stock’s previous close.

Separately, Mizuho decreased their target price 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.

Paramount Group Stock Performance

PGRE opened at $4.16 on Tuesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.45 and a quick ratio of 4.45. The firm has a fifty day moving average price of $4.54 and a 200 day moving average price of $4.81. Paramount Group has a 1 year low of $3.96 and a 1 year high of $5.47. The stock has a market cap of $903.83 million, a P/E ratio of -4.24 and a beta of 1.22.

Paramount Group (NYSE:PGRE) last posted its earnings results on Thursday, February 27th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. The firm had revenue of $186.27 million during the quarter, compared to analysts’ expectations of $180.41 million. Equities research analysts anticipate that Paramount Group will post 0.78 earnings per share for the current year.

Institutional Investors Weigh In On Paramount Group

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Paramount Group by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 26,922,796 shares of the financial services provider’s stock valued at $132,999,000 after buying an additional 477,940 shares during the last quarter. Long Pond Capital LP raised its position in shares of Paramount Group by 12.5% in the fourth quarter. Long Pond Capital LP now owns 10,053,335 shares of the financial services provider’s stock valued at $49,663,000 after buying an additional 1,116,395 shares during the last quarter. Legal & General Group Plc raised its position in shares of Paramount Group by 2.9% in the fourth quarter. Legal & General Group Plc now owns 4,860,475 shares of the financial services provider’s stock valued at $24,011,000 after buying an additional 135,654 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Paramount Group by 7.9% in the third quarter. Geode Capital Management LLC now owns 4,695,561 shares of the financial services provider’s stock valued at $23,107,000 after purchasing an additional 345,450 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Paramount Group by 11.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,895,573 shares of the financial services provider’s stock valued at $14,304,000 after purchasing an additional 292,392 shares during the period. 65.64% of the stock is currently owned by institutional investors and hedge funds.

Paramount Group Company 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.