Paramount Group Inc (NYSE:PGRE) Sees Significant Decrease in Short Interest

Paramount Group Inc (NYSE:PGRE) saw a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 3,375,500 shares, a decline of 5.2% from the July 31st total of 3,559,700 shares. Based on an average trading volume of 1,280,000 shares, the short-interest ratio is presently 2.6 days. Approximately 1.7% of the shares of the stock are short sold.

Shares of Paramount Group stock traded down $0.16 during midday trading on Friday, reaching $13.30. The company had a trading volume of 1,410,800 shares, compared to its average volume of 1,167,014. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of 13.85, a price-to-earnings-growth ratio of 3.52 and a beta of 0.77. The stock has a fifty day simple moving average of $13.31 and a 200 day simple moving average of $14.08. Paramount Group has a 1-year low of $12.18 and a 1-year high of $15.70.

Paramount Group (NYSE:PGRE) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.21). The company had revenue of $188.58 million during the quarter, compared to analyst estimates of $187.21 million. Paramount Group had a net margin of 6.77% and a return on equity of 1.06%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.24 EPS. Sell-side analysts expect that Paramount Group will post 0.93 earnings per share for the current year.

A number of research analysts have recently issued reports on the stock. ValuEngine cut shares of Paramount Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded shares of Paramount Group from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Friday, June 28th.

Several institutional investors have recently modified their holdings of PGRE. Dimensional Fund Advisors LP increased its holdings in shares of Paramount Group by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,353,447 shares of the financial services provider’s stock valued at $42,120,000 after purchasing an additional 176,090 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Paramount Group by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 2,558,696 shares of the financial services provider’s stock valued at $32,137,000 after purchasing an additional 99,267 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Paramount Group by 89.9% in the first quarter. SG Americas Securities LLC now owns 64,176 shares of the financial services provider’s stock valued at $911,000 after purchasing an additional 30,376 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Paramount Group by 121.6% in the first quarter. JPMorgan Chase & Co. now owns 558,077 shares of the financial services provider’s stock valued at $7,920,000 after purchasing an additional 306,278 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in shares of Paramount Group by 0.7% in the first quarter. Great West Life Assurance Co. Can now owns 164,597 shares of the financial services provider’s stock valued at $2,336,000 after purchasing an additional 1,222 shares in the last quarter. 61.12% of the stock is owned by institutional investors and hedge funds.

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.

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