Paramount Group, Inc. (NYSE:PGRE) Given Consensus Rating of “Hold” by Analysts

Shares of Paramount Group, Inc. (NYSE:PGRE) have been assigned an average rating of “Hold” from the six analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $6.45.

A number of analysts recently issued reports on the company. BTIG Research restated a “neutral” rating on shares of Paramount Group in a research report on Wednesday, September 17th. Morgan Stanley set a $6.60 target price on shares of Paramount Group and gave the company an “equal weight” rating in a research note on Wednesday, October 22nd. Weiss Ratings restated a “sell (d)” rating on shares of Paramount Group in a report on Monday, December 15th. Wells Fargo & Company raised shares of Paramount Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $4.20 to $6.60 in a research note on Thursday, September 18th. Finally, Evercore ISI set a $6.60 price objective on shares of Paramount Group and gave the stock an “in-line” rating in a research report on Monday, September 22nd.

Paramount Group Stock Up 0.2%

Shares of NYSE:PGRE opened at $6.60 on Friday. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -14.67 and a beta of 0.93. Paramount Group has a 12 month low of $3.75 and a 12 month high of $7.85. The company has a current ratio of 4.91, a quick ratio of 4.91 and a debt-to-equity ratio of 0.91. The company has a 50-day moving average price of $6.57 and a 200 day moving average price of $6.58.

Paramount Group (NYSE:PGRE) last issued its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The company had revenue of $172.96 million for the quarter, compared to analysts’ expectations of $167.65 million. Paramount Group had a negative return on equity of 2.39% and a negative net margin of 13.47%. As a group, equities research analysts predict that Paramount Group will post 0.78 earnings per share for the current year.

Institutional Investors Weigh In On Paramount Group

Several hedge funds and other institutional investors have recently modified their holdings of PGRE. PenderFund Capital Management Ltd. purchased a new position in Paramount Group during the 3rd quarter valued at $33,000. Signaturefd LLC lifted 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 worth $51,000 after purchasing an additional 4,167 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Paramount Group during the third quarter worth $65,000. Truist Financial Corp purchased a new stake in shares of Paramount Group during the second quarter valued at $67,000. Finally, Ethic Inc. bought a new position in shares of Paramount Group in the second quarter worth about $76,000. 65.64% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Group Company Profile

Paramount Group, Inc (NYSE: PGRE) is a publicly traded real estate investment trust focused on the ownership, management and development of Class A office properties in key U.S. urban markets. The company’s portfolio comprises premier office buildings strategically located in gateway cities, where it seeks to deliver high-quality workspace solutions and drive long-term value through active asset management, redevelopment initiatives and sustainable operating practices.

Tracing its origins to 1978, Paramount Group converted to a real estate investment trust in 1997 and subsequently completed its initial public offering.