Paramount Group (NYSE:PGRE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
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 several other reports. TheStreet lowered shares of Paramount Group from a “c” rating to a “d+” rating in a research report on Thursday, November 16th. Mizuho restated a “sell” rating and set a $14.00 target price on shares of Paramount Group in a research report on Friday, February 23rd. Finally, Goldman Sachs Group upgraded shares of Paramount Group from a “sell” rating to a “neutral” rating and set a $16.00 target price on the stock in a research report on Tuesday, February 6th. Four research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $16.40.
Shares of Paramount Group (NYSE:PGRE) opened at $14.10 on Wednesday. The company has a market cap of $3,380.42, a price-to-earnings ratio of 38.11, a price-to-earnings-growth ratio of 3.50 and a beta of 0.72. Paramount Group has a 1 year low of $13.70 and a 1 year high of $17.25.
Paramount Group (NYSE:PGRE) last issued its earnings results on Thursday, February 15th. The financial services provider reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. The company had revenue of $180.26 million for the quarter, compared to analyst estimates of $179.69 million. Paramount Group had a net margin of 12.02% and a return on equity of 1.75%. The business’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.17 EPS. analysts forecast that Paramount Group will post 0.94 EPS for the current year.
Several large investors have recently added to or reduced their stakes in PGRE. The Manufacturers Life Insurance Company raised its stake in shares of Paramount Group by 2.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,165 shares of the financial services provider’s stock worth $403,000 after buying an additional 492 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Paramount Group during the 3rd quarter worth $959,000. Aperio Group LLC raised its stake in shares of Paramount Group by 32.9% during the 3rd quarter. Aperio Group LLC now owns 24,531 shares of the financial services provider’s stock worth $392,000 after buying an additional 6,071 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in shares of Paramount Group during the 3rd quarter worth $470,000. Finally, American Century Companies Inc. raised its stake in shares of Paramount Group by 8.8% during the 3rd quarter. American Century Companies Inc. now owns 2,382,891 shares of the financial services provider’s stock worth $38,126,000 after buying an additional 193,616 shares during the last quarter. 63.40% of the stock is owned by institutional investors and hedge funds.
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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