California Public Employees Retirement System increased its stake in shares of Paramount Group Inc (NYSE:PGRE) by 8.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 408,857 shares of the financial services provider’s stock after purchasing an additional 30,257 shares during the quarter. California Public Employees Retirement System owned 0.17% of Paramount Group worth $6,542,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of PGRE. Public Employees Retirement Association of Colorado lifted its holdings in Paramount Group by 9.2% in 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 period. Oppenheimer Asset Management Inc. lifted its holdings in Paramount Group by 1.0% in 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 period. Synovus Financial Corp acquired a new stake in Paramount Group in the second quarter valued at $256,000. GAM Holding AG lifted its holdings in Paramount Group by 37.7% in 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 period. Finally, Teton Advisors Inc. raised its stake in shares of Paramount Group by 37.7% during the 3rd quarter. Teton Advisors Inc. now owns 17,900 shares of the financial services provider’s stock worth $286,000 after buying an additional 4,900 shares during the last quarter. 62.20% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on PGRE shares. Zacks Investment Research raised Paramount Group from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Wednesday, November 15th. TheStreet raised Paramount Group from a “d+” rating to a “c-” rating in a research note on Thursday, December 21st. Four investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $16.40.
Paramount Group Inc (NYSE:PGRE) opened at $15.21 on Thursday. The stock has a market capitalization of $3,735.55, a price-to-earnings ratio of 41.11, a PEG ratio of 3.32 and a beta of 0.80. Paramount Group Inc has a one year low of $15.12 and a one year high of $17.58.
Paramount Group (NYSE:PGRE) last posted its quarterly earnings data on Monday, November 6th. The financial services provider reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The firm had revenue of $179.80 million during the quarter, compared to analysts’ expectations of $172.85 million. Paramount Group had a return on equity of 1.76% and a net margin of 12.29%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.20 EPS. research analysts predict that Paramount Group Inc will post 0.9 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, December 28th. Paramount Group’s dividend payout ratio is presently 102.70%.
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Paramount Group 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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