Paramount Group (PGRE) Stock Rating Lowered by Zacks Investment Research

Paramount Group (NYSE:PGRE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued 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. “

PGRE has been the topic of a number of other research reports. ValuEngine lowered Paramount Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. Deutsche Bank boosted their price target on Paramount Group from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, August 29th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $16.70.

Shares of PGRE stock opened at $14.15 on Tuesday. Paramount Group has a fifty-two week low of $13.70 and a fifty-two week high of $16.50. The stock has a market cap of $3.42 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 5.08 and a beta of 0.68. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.49 and a current ratio of 2.49.

Paramount Group (NYSE:PGRE) last issued its quarterly earnings results on Monday, November 5th. The financial services provider reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.01). Paramount Group had a negative return on equity of 1.01% and a negative net margin of 6.89%. The business had revenue of $192.60 million for the quarter, compared to analysts’ expectations of $191.24 million. During the same quarter in the previous year, the firm posted $0.22 EPS. Paramount Group’s revenue was up 7.0% on a year-over-year basis. Sell-side analysts predict that Paramount Group will post 0.94 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management & Equity Research Inc. lifted its holdings in shares of Paramount Group by 11.4% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 43,816 shares of the financial services provider’s stock worth $661,000 after purchasing an additional 4,490 shares during the period. Teton Advisors Inc. lifted its holdings in shares of Paramount Group by 30.1% during the third quarter. Teton Advisors Inc. now owns 31,100 shares of the financial services provider’s stock worth $469,000 after purchasing an additional 7,200 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Paramount Group by 13.3% during the third quarter. Daiwa Securities Group Inc. now owns 31,300 shares of the financial services provider’s stock worth $472,000 after purchasing an additional 3,677 shares during the period. Eii Capital Management Inc. lifted its holdings in shares of Paramount Group by 24.0% during the third quarter. Eii Capital Management Inc. now owns 32,085 shares of the financial services provider’s stock worth $463,000 after purchasing an additional 6,215 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in shares of Paramount Group by 194.8% during the third quarter. Acadian Asset Management LLC now owns 40,601 shares of the financial services provider’s stock worth $613,000 after purchasing an additional 26,828 shares during the period. 63.44% of the stock is owned by hedge funds and other institutional investors.

Paramount Group Company 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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