Two Sigma Advisers LP purchased a new stake in Paramount Group Inc (NYSE:PGRE) in the fourth quarter, HoldingsChannel reports. The firm purchased 50,076 shares of the financial services provider’s stock, valued at approximately $794,000.
Several other hedge funds also recently bought and sold shares of PGRE. IBM Retirement Fund purchased a new stake in shares of Paramount Group in the fourth quarter valued at approximately $181,000. Fox Run Management L.L.C. purchased a new stake in shares of Paramount Group in the fourth quarter valued at approximately $286,000. Suntrust Banks Inc. purchased a new stake in shares of Paramount Group in the fourth quarter valued at approximately $375,000. Aperio Group LLC grew its position in shares of Paramount Group by 58.9% in the fourth quarter. Aperio Group LLC now owns 38,989 shares of the financial services provider’s stock valued at $618,000 after purchasing an additional 14,458 shares in the last quarter. Finally, Amalgamated Bank grew its position in shares of Paramount Group by 10.3% in the fourth quarter. Amalgamated Bank now owns 39,511 shares of the financial services provider’s stock valued at $626,000 after purchasing an additional 3,693 shares in the last quarter. Institutional investors and hedge funds own 68.59% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. TheStreet upgraded Paramount Group from a “d+” rating to a “c-” rating in a research report on Thursday, December 21st. Mizuho reiterated a “sell” rating and issued a $14.00 price objective on shares of Paramount Group in a report on Friday, February 23rd. Zacks Investment Research upgraded Paramount Group from a “sell” rating to a “hold” rating in a report on Tuesday, March 20th. Finally, Goldman Sachs upgraded Paramount Group from a “sell” rating to a “neutral” rating and set a $16.00 price objective on the stock in a report on Tuesday, February 6th. 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 stock. The company presently has an average rating of “Hold” and an average target price of $15.75.
PGRE opened at $14.18 on Tuesday. Paramount Group Inc has a one year low of $13.70 and a one year high of $17.25. The company has a market capitalization of $3,397.25, a P/E ratio of 15.93, a price-to-earnings-growth ratio of 3.50 and a beta of 0.66.
Paramount Group (NYSE:PGRE) last released its quarterly earnings data on Thursday, February 15th. The financial services provider reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. Paramount Group had a return on equity of 1.75% and a net margin of 12.02%. The firm had revenue of $180.26 million for the quarter, compared to analysts’ expectations of $179.69 million. During the same period in the prior year, the firm posted $0.17 earnings per share. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. equities analysts anticipate that Paramount Group Inc will post 0.94 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 13th. Investors of record on Thursday, March 29th were issued a $0.10 dividend. The ex-dividend date of this dividend was Wednesday, March 28th. This is a boost from Paramount Group’s previous quarterly dividend of $0.10. This represents a $0.40 dividend on an annualized basis and a yield of 2.82%. Paramount Group’s dividend payout ratio is currently 44.94%.
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Paramount Group Profile
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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