Brokerages Set Paramount Group, Inc. (NYSE:PGRE) Price Target at $4.70

Shares of Paramount Group, Inc. (NYSE:PGRE) have been given a consensus recommendation of “Reduce” by the five ratings firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $4.70.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Jupiter Asset Management Ltd. lifted its holdings in 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 purchasing an additional 621,125 shares during the period. Long Pond Capital LP lifted its stake in shares of Paramount Group by 131.4% in the 2nd quarter. Long Pond Capital LP now owns 7,501,361 shares of the financial services provider’s stock worth $34,731,000 after acquiring an additional 4,259,635 shares during the period. Centersquare Investment Management LLC boosted its holdings 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 valued at $14,068,000 after acquiring an additional 119,590 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 valued at $10,696,000 after acquiring an additional 15,806 shares in the last quarter. Finally, Bank of New York Mellon Corp increased 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 valued at $4,829,000 after acquiring an additional 63,789 shares during the period. 65.64% of the stock is owned by institutional investors and hedge funds.

Paramount Group Price Performance

PGRE stock opened at $4.94 on Friday. Paramount Group has a 1 year low of $4.06 and a 1 year high of $5.92. The firm has a market capitalization of $1.07 billion, a P/E ratio of -4.26, a P/E/G ratio of 0.24 and a beta of 1.25. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.39 and a quick ratio of 4.39. The business’s 50-day moving average is $4.90 and its two-hundred day moving average is $4.79.

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.