Citadel Advisors LLC boosted its position in shares of Paramount Group Inc (NYSE:PGRE) by 506.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 326,579 shares of the financial services provider’s stock after purchasing an additional 272,705 shares during the period. Citadel Advisors LLC’s holdings in Paramount Group were worth $5,176,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in PGRE. IBM Retirement Fund purchased a new position in shares of Paramount Group in the 4th quarter valued at about $181,000. Teton Advisors Inc. boosted its stake in shares of Paramount Group by 37.7% in the 3rd quarter. Teton Advisors Inc. now owns 17,900 shares of the financial services provider’s stock valued at $286,000 after buying an additional 4,900 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of Paramount Group in the 4th quarter valued at about $286,000. Daiwa Securities Group Inc. boosted its stake in shares of Paramount Group by 6,222.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 20,423 shares of the financial services provider’s stock valued at $327,000 after buying an additional 20,100 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of Paramount Group in the 3rd quarter valued at about $333,000. Institutional investors own 62.96% of the company’s stock.
Paramount Group Inc (NYSE:PGRE) opened at $14.01 on Friday. The stock has a market capitalization of $3,370.00, a PE ratio of 37.86, a PEG ratio of 3.01 and a beta of 0.67. Paramount Group Inc has a 52 week low of $13.70 and a 52 week high of $17.58.
Paramount Group (NYSE:PGRE) last announced its quarterly earnings data on Thursday, February 15th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. The business had revenue of $180.26 million during the quarter, compared to analysts’ expectations of $179.69 million. Paramount Group had a return on equity of 1.75% and a net margin of 12.02%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 EPS. analysts expect that Paramount Group Inc will post 0.94 earnings per share for the current year.
Several equities analysts have recently issued reports on PGRE shares. Zacks Investment Research upgraded Paramount Group from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Wednesday, November 15th. TheStreet cut Paramount Group from a “c” rating to a “d+” rating in a research note on Thursday, November 16th. Finally, Goldman Sachs Group upgraded Paramount Group from a “sell” rating to a “neutral” rating and set a $16.00 price objective for the company in a research note on Tuesday, February 6th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Paramount Group currently has a consensus rating of “Hold” and an average target price of $16.60.
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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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