Zacks Investment Research upgraded shares of Paramount Group (NYSE:PGRE) from a hold rating to a buy rating in a research report released on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $15.00 target price on the financial services provider’s stock.
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. “
A number of other analysts have also commented on PGRE. ValuEngine lowered Paramount Group from a hold rating to a sell rating in a research report on Tuesday, November 5th. Morgan Stanley raised Paramount Group from an equal rating to a weight rating and set a $15.00 target price for the company in a research report on Friday, October 11th. Finally, Goldman Sachs Group began coverage on Paramount Group in a research report on Friday, November 8th. They issued a sell rating and a $13.00 target price for the company. Two investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $14.33.
Shares of PGRE stock remained flat at $$13.57 during mid-day trading on Thursday. The stock had a trading volume of 623,090 shares, compared to its average volume of 1,735,578. The stock’s 50 day simple moving average is $13.20 and its two-hundred day simple moving average is $13.73. Paramount Group has a 1 year low of $12.18 and a 1 year high of $15.11. The company has a current ratio of 2.88, a quick ratio of 2.88 and a debt-to-equity ratio of 0.76. The company has a market cap of $3.07 billion, a P/E ratio of 14.14, a PEG ratio of 3.75 and a beta of 0.77.
Paramount Group (NYSE:PGRE) last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.21). Paramount Group had a return on equity of 0.44% and a net margin of 2.77%. The business had revenue of $198.32 million during the quarter, compared to the consensus estimate of $190.88 million. During the same period last year, the business posted $0.24 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. On average, equities analysts forecast that Paramount Group will post 0.97 EPS for the current year.
A number of institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC increased its position in Paramount Group by 3.7% in the 3rd quarter. SG Americas Securities LLC now owns 20,661 shares of the financial services provider’s stock valued at $276,000 after buying an additional 744 shares in the last quarter. Quantamental Technologies LLC boosted its stake in Paramount Group by 6.0% during the 2nd quarter. Quantamental Technologies LLC now owns 14,115 shares of the financial services provider’s stock valued at $198,000 after purchasing an additional 799 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Paramount Group by 5.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 34,400 shares of the financial services provider’s stock valued at $482,000 after purchasing an additional 1,800 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Paramount Group by 6.6% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 40,294 shares of the financial services provider’s stock valued at $565,000 after purchasing an additional 2,509 shares during the last quarter. Finally, Exane Derivatives boosted its stake in Paramount Group by 18.6% during the 3rd quarter. Exane Derivatives now owns 16,339 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 2,561 shares during the last quarter. 61.06% of the stock is owned by institutional investors and hedge funds.
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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