Aberdeen Group plc Boosts Holdings in Paramount Group, Inc. $PGRE

Aberdeen Group plc grew its position in Paramount Group, Inc. (NYSE:PGRE) by 9.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 52,620 shares of the financial services provider’s stock after purchasing an additional 4,514 shares during the period. Aberdeen Group plc’s holdings in Paramount Group were worth $321,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue grew its holdings in Paramount Group by 2.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 90,268 shares of the financial services provider’s stock valued at $550,000 after purchasing an additional 1,768 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Paramount Group by 1.4% during the second quarter. Public Employees Retirement System of Ohio now owns 271,861 shares of the financial services provider’s stock valued at $1,658,000 after buying an additional 3,787 shares during the period. Signaturefd LLC boosted its position in shares of Paramount Group by 101.0% during the second quarter. Signaturefd LLC now owns 8,291 shares of the financial services provider’s stock valued at $51,000 after buying an additional 4,167 shares during the period. 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 valued at $38,000 after buying an additional 4,415 shares during the last quarter. Finally, Amundi raised its holdings in shares of Paramount Group by 4.6% in the first quarter. Amundi now owns 101,064 shares of the financial services provider’s stock worth $416,000 after buying an additional 4,459 shares during the period. 65.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Paramount Group in a research report on Wednesday, October 8th. Evercore ISI set a $6.60 target price on shares of Paramount Group and gave the company an “in-line” rating in a research note on Monday, September 22nd. Wells Fargo & Company upgraded shares of Paramount Group from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $4.20 to $6.60 in a report on Thursday, September 18th. BTIG Research reiterated a “neutral” rating on shares of Paramount Group in a report on Wednesday, September 17th. Finally, Mizuho boosted their price objective on shares of Paramount Group from $5.00 to $6.00 and gave the company an “outperform” rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Paramount Group has an average rating of “Reduce” and an average price target of $5.61.

Paramount Group Stock Performance

PGRE stock opened at $6.53 on Friday. Paramount Group, Inc. has a 1-year low of $3.75 and a 1-year high of $7.85. The business has a 50-day moving average price of $6.80 and a 200 day moving average price of $5.99. The company has a market capitalization of $1.44 billion, a P/E ratio of -18.14 and a beta of 1.37. The company has a debt-to-equity ratio of 0.90, a current ratio of 5.91 and a quick ratio of 5.91.

Paramount Group (NYSE:PGRE) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. Paramount Group had a negative net margin of 10.49% and a negative return on equity of 1.92%. The business had revenue of $177.05 million for the quarter, compared to the consensus estimate of $173.98 million. Paramount Group has set its FY 2025 guidance at 0.550-0.590 EPS. As a group, equities research analysts forecast that Paramount Group, Inc. will post 0.78 EPS 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.