Zacks Investment Research cut shares of Paramount Group (NYSE:PGRE) from a hold rating to a sell rating in a research report released on Tuesday.
According to Zacks, “Paramount Group, Inc. is a real estate investment trust focused on owning, operating and managing Class A office properties. It provides asset management, leasing, acquisitions, redevelopment and financing. The Company owns properties in New York City, Washington D.C. and San Francisco. Paramount Group, Inc. is based in the United States. “
Several other equities analysts have also issued reports on the company. ValuEngine upgraded Paramount Group from a sell rating to a hold rating in a research note on Wednesday, October 24th. Deutsche Bank lifted their target price on Paramount Group from $20.00 to $21.00 and gave the company a buy rating in a research note on Wednesday, August 29th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $16.70.
Shares of PGRE stock traded down $0.06 on Tuesday, hitting $14.48. The stock had a trading volume of 1,271,812 shares, compared to its average volume of 2,067,134. The company has a debt-to-equity ratio of 0.71, a current ratio of 4.57 and a quick ratio of 2.49. The company has a market capitalization of $3.44 billion, a P/E ratio of 16.27, a PEG ratio of 5.22 and a beta of 0.68. Paramount Group has a one year low of $13.70 and a one year high of $16.50.
Paramount Group (NYSE:PGRE) last released its quarterly earnings data on Monday, November 5th. The financial services provider reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.01). Paramount Group had a negative net margin of 0.40% and a negative return on equity of 0.06%. The firm had revenue of $192.60 million during the quarter, compared to the consensus estimate of $191.24 million. During the same quarter in the previous year, the firm earned $0.22 earnings per share. The business’s revenue was up 7.0% compared to the same quarter last year. On average, analysts anticipate that Paramount Group will post 0.94 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.40 annualized dividend and a yield of 2.76%. Paramount Group’s dividend payout ratio (DPR) is presently 44.94%.
A number of institutional investors and hedge funds have recently bought and sold shares of PGRE. BlackRock Inc. grew its stake in shares of Paramount Group by 1.4% during the second quarter. BlackRock Inc. now owns 15,349,289 shares of the financial services provider’s stock worth $236,379,000 after acquiring an additional 215,466 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Paramount Group by 10.9% during the second quarter. Russell Investments Group Ltd. now owns 1,002,387 shares of the financial services provider’s stock worth $15,422,000 after acquiring an additional 98,495 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Paramount Group by 8.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 208,228 shares of the financial services provider’s stock worth $3,207,000 after acquiring an additional 17,017 shares during the last quarter. UBS Group AG grew its stake in shares of Paramount Group by 76.3% during the first quarter. UBS Group AG now owns 136,804 shares of the financial services provider’s stock worth $1,948,000 after acquiring an additional 59,203 shares during the last quarter. Finally, Capital Fund Management S.A. purchased a new stake in shares of Paramount Group during the second quarter worth about $833,000. Institutional investors own 63.44% of the company’s stock.
About Paramount Group
Headquartered in New York City, Paramount Group, Inc 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 City, Washington, DC and San Francisco.
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