Paramount Group (PGRE) Lowered to Sell at ValuEngine

ValuEngine downgraded shares of Paramount Group (NYSE:PGRE) from a hold rating to a sell rating in a report published on Thursday.

A number of other equities analysts have also recently issued reports on the company. Mizuho reaffirmed a sell rating and issued a $14.00 target price on shares of Paramount Group in a report on Friday, February 23rd. Goldman Sachs raised Paramount Group from a sell rating to a neutral rating and set a $16.00 target price for the company in a report on Tuesday, February 6th. Finally, Zacks Investment Research raised Paramount Group from a sell rating to a hold rating in a report on Tuesday, March 20th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $15.25.

Paramount Group traded down $0.07, reaching $14.34, on Thursday, according to MarketBeat Ratings. The stock had a trading volume of 24,479 shares, compared to its average volume of 1,187,319. Paramount Group has a fifty-two week low of $14.47 and a fifty-two week high of $14.64. The stock has a market cap of $3.48 billion, a PE ratio of 16.08, a PEG ratio of 3.59 and a beta of 0.66.

Paramount Group (NYSE:PGRE) last issued its earnings results on Wednesday, May 2nd. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.23. Paramount Group had a return on equity of 1.74% and a net margin of 12.07%. The business had revenue of $184.27 million during the quarter, compared to analysts’ expectations of $180.88 million. During the same quarter in the prior year, the firm earned $0.22 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. equities analysts forecast that Paramount Group will post 0.94 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PGRE. Wells Fargo & Company MN grew its position in shares of Paramount Group by 104.0% in the 3rd quarter. Wells Fargo & Company MN now owns 81,314 shares of the financial services provider’s stock valued at $1,301,000 after buying an additional 41,456 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Paramount Group by 8.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,359,730 shares of the financial services provider’s stock valued at $37,402,000 after buying an additional 183,491 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Paramount Group in the 4th quarter valued at about $286,000. Strs Ohio grew its position in shares of Paramount Group by 7.3% in the 4th quarter. Strs Ohio now owns 267,931 shares of the financial services provider’s stock valued at $4,246,000 after buying an additional 18,310 shares during the last quarter. Finally, Twin Capital Management Inc. grew its position in shares of Paramount Group by 3.9% in the 4th quarter. Twin Capital Management Inc. now owns 214,790 shares of the financial services provider’s stock valued at $3,404,000 after buying an additional 8,150 shares during the last quarter. Hedge funds and other institutional investors own 67.71% of the company’s stock.

About Paramount Group

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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