Adero Partners LLC Buys New Stake in Paramount Group, Inc. (NYSE:PGRE)

Adero Partners LLC purchased a new position in shares of Paramount Group, Inc. (NYSE:PGRE) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 15,466 shares of the financial services provider’s stock, valued at approximately $67,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in shares of Paramount Group by 23.5% in the fourth quarter. Van ECK Associates Corp now owns 45,590 shares of the financial services provider’s stock worth $226,000 after buying an additional 8,684 shares during the last quarter. Rhumbline Advisers boosted its position in Paramount Group by 2.3% in the 4th quarter. Rhumbline Advisers now owns 340,672 shares of the financial services provider’s stock worth $1,683,000 after purchasing an additional 7,574 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Paramount Group during the 4th quarter worth approximately $106,000. US Bancorp DE increased its holdings in shares of Paramount Group by 33.9% during the 4th quarter. US Bancorp DE now owns 14,656 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 3,708 shares in the last quarter. Finally, Metis Global Partners LLC lifted its stake in shares of Paramount Group by 16.3% in the 4th quarter. Metis Global Partners LLC now owns 20,955 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 2,935 shares during the period. 65.64% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Paramount Group

In other news, CEO Albert P. Behler purchased 10,000 shares of Paramount Group stock in a transaction dated Friday, March 21st. The shares were purchased at an average price of $4.15 per share, with a total value of $41,500.00. Following the transaction, the chief executive officer now owns 751,812 shares in the company, valued at $3,120,019.80. This represents a 1.35% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 13.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Mizuho cut their price objective on shares of Paramount Group from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, February 25th. Wells Fargo & Company cut their price objective on Paramount Group from $5.00 to $4.50 and set an “underweight” rating for the company in a research report on Monday, May 19th. Morgan Stanley reaffirmed an “underweight” rating and set a $3.25 target price on shares of Paramount Group in a research note on Tuesday, April 15th. Evercore ISI upgraded shares of Paramount Group from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $4.50 to $8.00 in a research report on Tuesday, May 20th. Finally, Wall Street Zen cut shares of Paramount Group from a “hold” rating to a “sell” rating in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $5.19.

Paramount Group Stock Performance

NYSE:PGRE opened at $6.47 on Tuesday. The company has a market cap of $1.42 billion, a P/E ratio of -6.61 and a beta of 1.32. Paramount Group, Inc. has a twelve month low of $3.75 and a twelve month high of $6.62. The company’s 50-day moving average price is $5.13 and its 200-day moving average price is $4.77. The company has a current ratio of 4.45, a quick ratio of 4.45 and a debt-to-equity ratio of 0.91.

Paramount Group (NYSE:PGRE) last released its earnings results on Wednesday, April 30th. The financial services provider reported $0.17 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.17. The business had revenue of $187.02 million for the quarter, compared to analyst estimates of $180.79 million. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. On average, sell-side analysts forecast that Paramount Group, Inc. will post 0.78 earnings per share for the current fiscal year.

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.