Zacks Investment Research downgraded shares of Paramount Group (NYSE:PGRE) from a buy rating to a hold rating in a research note released on Tuesday, November 28th.
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. “
Separately, TheStreet downgraded shares of Paramount Group from a c rating to a d+ rating in a research note on Thursday, November 16th. Four equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $16.40.
Shares of Paramount Group (NYSE PGRE) opened at $15.74 on Tuesday. The company has a market cap of $3,778.76, a price-to-earnings ratio of 18.52, a P/E/G ratio of 3.52 and a beta of 0.80. Paramount Group has a 52-week low of $15.14 and a 52-week high of $17.58.
Paramount Group (NYSE:PGRE) last released its quarterly earnings results on Monday, November 6th. The financial services provider reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.01. The company had revenue of $179.80 million for the quarter, compared to analyst estimates of $172.85 million. Paramount Group had a net margin of 12.29% and a return on equity of 1.76%. The firm’s revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business earned $0.20 earnings per share. research analysts forecast that Paramount Group will post 0.9 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement Association of Colorado increased its position in shares of Paramount Group by 9.2% during the second quarter. Public Employees Retirement Association of Colorado now owns 6,238 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 526 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Paramount Group by 1.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 7,625 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 75 shares during the last quarter. Synovus Financial Corp acquired a new stake in shares of Paramount Group during the second quarter valued at about $256,000. GAM Holding AG increased its position in shares of Paramount Group by 37.7% during the second quarter. GAM Holding AG now owns 16,813 shares of the financial services provider’s stock valued at $269,000 after acquiring an additional 4,600 shares during the last quarter. Finally, Teton Advisors Inc. increased its position in shares of Paramount Group by 37.7% during the third quarter. Teton Advisors Inc. now owns 17,900 shares of the financial services provider’s stock valued at $286,000 after acquiring an additional 4,900 shares during the last quarter. Hedge funds and other institutional investors own 62.65% of the company’s stock.
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Paramount Group Company Profile
Paramount Group, Inc is a fully-integrated real estate investment trust (REIT) focused on owning, operating, managing, acquiring and redeveloping Class A office properties in select central business district submarkets of New York City, Washington, District of Columbia (DC) and San Francisco. The Company conducts its business through, and substantially all its interests in properties and investments are held by, Paramount Group Operating Partnership LP (the Operating Partnership).
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