Zacks Investment Research upgraded shares of Paramount Group (NYSE:PGRE) from a sell rating to a hold rating in a research note published 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 research analysts have also recently weighed in on PGRE. TheStreet raised Paramount Group from a d+ rating to a c- rating in a research report on Thursday, December 21st. Goldman Sachs raised Paramount Group from a sell rating to a neutral rating and set a $16.00 price target for the company in a research report on Tuesday, February 6th. Finally, Mizuho reissued a sell rating and set a $14.00 price target on shares of Paramount Group in a research report on Friday, February 23rd. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Paramount Group presently has a consensus rating of Hold and a consensus target price of $15.75.
Paramount Group (NYSE PGRE) opened at $14.37 on Tuesday. The firm has a market capitalization of $3,493.42, a PE ratio of 16.33, a PEG ratio of 3.62 and a beta of 0.72. Paramount Group has a 52-week low of $13.70 and a 52-week high of $17.25.
Paramount Group (NYSE:PGRE) last posted its quarterly earnings data on Thursday, February 15th. The financial services provider reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The company 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%. Paramount Group’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 earnings per share. equities research analysts predict that Paramount Group will post 0.94 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Thursday, March 29th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This is a boost from Paramount Group’s previous quarterly dividend of $0.10. This represents a $0.40 annualized dividend and a yield of 2.78%. Paramount Group’s dividend payout ratio is 102.70%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. IBM Retirement Fund acquired a new position in Paramount Group during the fourth quarter valued at approximately $181,000. Two Sigma Securities LLC acquired a new position in Paramount Group during the fourth quarter valued at approximately $190,000. Xact Kapitalforvaltning AB acquired a new position in Paramount Group during the fourth quarter valued at approximately $230,000. Fox Run Management L.L.C. acquired a new position in Paramount Group during the fourth quarter valued at approximately $286,000. Finally, Quantbot Technologies LP acquired a new position in Paramount Group during the third quarter valued at approximately $333,000. 68.59% of the stock is owned by hedge funds and other institutional investors.
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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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