Paramount Group (NYSE:PGRE) Shares Gap Up – Should You Buy?

Paramount Group, Inc. (NYSE:PGRE)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $5.41, but opened at $5.56. Paramount Group shares last traded at $5.65, with a volume of 887,310 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Evercore ISI upgraded shares of Paramount Group from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $4.50 to $8.00 in a report on Tuesday. StockNews.com lowered shares of Paramount Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 23rd. Morgan Stanley restated an “underweight” rating and set a $3.25 price objective on shares of Paramount Group in a research note on Tuesday, April 15th. Wells Fargo & Company lowered their target price on Paramount Group from $5.00 to $4.50 and set an “underweight” rating on the stock in a research note on Monday. Finally, Mizuho reduced their price target on Paramount Group from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, February 25th. Three investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $5.19.

Paramount Group Trading Up 4.5%

The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.45 and a current ratio of 4.45. The company has a 50 day simple moving average of $4.32 and a 200 day simple moving average of $4.60. The company has a market capitalization of $1.24 billion, a PE ratio of -5.76 and a beta of 1.12.

Paramount Group (NYSE:PGRE) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The company had revenue of $187.02 million during the quarter, compared to analysts’ expectations of $180.79 million. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. Analysts anticipate that Paramount Group, Inc. will post 0.78 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Albert P. Behler purchased 10,000 shares of Paramount Group stock in a transaction dated Friday, March 21st. The shares were acquired at an average cost of $4.15 per share, with a total value of $41,500.00. Following the purchase, the chief executive officer now owns 751,812 shares of the company’s stock, valued at approximately $3,120,019.80. The trade was a 1.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 13.80% of the stock is owned by company insiders.

Institutional Trading of Paramount Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PGRE. Sterling Capital Management LLC lifted its position in shares of Paramount Group by 806.3% during the fourth quarter. Sterling Capital Management LLC now owns 5,909 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 5,257 shares in the last quarter. Manchester Capital Management LLC grew its stake in shares of Paramount Group by 99.2% during the first quarter. Manchester Capital Management LLC now owns 8,864 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 4,415 shares in the last quarter. Gotham Asset Management LLC acquired a new position in shares of Paramount Group during the fourth quarter worth $52,000. Wolverine Asset Management LLC increased its holdings in shares of Paramount Group by 86.6% in the 1st quarter. Wolverine Asset Management LLC now owns 12,195 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 5,659 shares during the last quarter. Finally, Commerce Bank purchased a new position in Paramount Group in the fourth quarter valued at approximately $54,000. Hedge funds and other institutional investors own 65.64% of the company’s stock.

Paramount Group Company Profile

Paramount Group, Inc (“Paramount” or the “Company”) 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 and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.