Shares of Paramount Group Inc (NYSE:PGRE) have earned a consensus rating of “Hold” from the six brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $17.73.
Several equities analysts have recently weighed in on PGRE shares. Zacks Investment Research upgraded Paramount Group from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. Morgan Stanley upgraded Paramount Group from an “underweight” rating to an “equal weight” rating and set a $14.46 price objective on the stock in a research report on Wednesday, March 13th. Finally, Evercore ISI upgraded Paramount Group from an “in-line” rating to an “outperform” rating in a research report on Monday, April 1st. They noted that the move was a valuation call.
Shares of NYSE PGRE traded down $0.05 during midday trading on Monday, hitting $14.43. The stock had a trading volume of 1,026,479 shares, compared to its average volume of 1,050,621. The company has a market cap of $3.38 billion, a PE ratio of 15.03, a price-to-earnings-growth ratio of 3.52 and a beta of 0.87. Paramount Group has a 1 year low of $12.18 and a 1 year high of $16.05. The company has a debt-to-equity ratio of 0.73, a current ratio of 3.28 and a quick ratio of 3.28.
Paramount Group (NYSE:PGRE) last released its earnings results on Wednesday, February 13th. The financial services provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.21). The firm had revenue of $190.68 million during the quarter, compared to analysts’ expectations of $186.53 million. Paramount Group had a net margin of 1.21% and a return on equity of 0.18%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.22 EPS. On average, equities research analysts anticipate that Paramount Group will post 0.9 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.40 dividend on an annualized basis and a yield of 2.77%. Paramount Group’s payout ratio is 41.67%.
A number of institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG increased its stake in Paramount Group by 833.1% during the fourth quarter. Deutsche Bank AG now owns 4,491,829 shares of the financial services provider’s stock worth $56,414,000 after acquiring an additional 4,010,438 shares during the last quarter. Geode Capital Management LLC increased its stake in Paramount Group by 4.0% during the fourth quarter. Geode Capital Management LLC now owns 2,558,696 shares of the financial services provider’s stock worth $32,137,000 after acquiring an additional 99,267 shares during the last quarter. Norges Bank acquired a new stake in Paramount Group during the fourth quarter worth $246,466,000. Dimensional Fund Advisors LP increased its stake in Paramount Group by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,353,447 shares of the financial services provider’s stock worth $42,120,000 after acquiring an additional 176,090 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in Paramount Group by 3.7% during the fourth quarter. Nordea Investment Management AB now owns 311,667 shares of the financial services provider’s stock worth $3,914,000 after acquiring an additional 11,233 shares during the last quarter. Hedge funds and other institutional investors own 68.88% 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.
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