Truist Financial Corp Purchases New Shares in Paramount Group, Inc. $PGRE

Truist Financial Corp bought a new stake in Paramount Group, Inc. (NYSE:PGRE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,947 shares of the financial services provider’s stock, valued at approximately $67,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. State of Alaska Department of Revenue raised its stake in shares of Paramount Group by 2.0% in the second quarter. State of Alaska Department of Revenue now owns 90,268 shares of the financial services provider’s stock valued at $550,000 after acquiring an additional 1,768 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Paramount Group by 1.4% in 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 acquiring an additional 3,787 shares during the period. Signaturefd LLC raised its stake in shares of Paramount Group by 101.0% in the second quarter. Signaturefd LLC now owns 8,291 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 4,167 shares during the period. Manchester Capital Management LLC raised its stake in shares of Paramount Group by 99.2% in the first quarter. Manchester Capital Management LLC now owns 8,864 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 4,415 shares during the period. Finally, Amundi raised its stake 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 valued at $416,000 after acquiring an additional 4,459 shares during the period. Hedge funds and other institutional investors own 65.64% of the company’s stock.

Paramount Group Trading Down 0.2%

NYSE:PGRE opened at $6.53 on Monday. Paramount Group, Inc. has a one year low of $3.75 and a one year high of $7.85. The company has a debt-to-equity ratio of 0.90, a quick ratio of 5.91 and a current ratio of 5.91. The firm has a market cap of $1.44 billion, a P/E ratio of -18.14 and a beta of 1.37. The firm has a 50-day simple moving average of $6.80 and a 200-day simple moving average of $6.00.

Paramount Group (NYSE:PGRE) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $0.17 earnings per share 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 analysts’ expectations of $173.98 million. Paramount Group has set its FY 2025 guidance at 0.550-0.590 EPS. Equities analysts anticipate that Paramount Group, Inc. will post 0.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Paramount Group in a research note on Wednesday, October 8th. BTIG Research reaffirmed a “neutral” rating on shares of Paramount Group in a research note on Wednesday, September 17th. Wells Fargo & Company raised shares of Paramount Group from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $4.20 to $6.60 in a research note on Thursday, September 18th. Mizuho raised their target price 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. Finally, Evercore ISI set a $6.60 price target on shares of Paramount Group and gave the company an “in-line” rating in a report on Monday, September 22nd. One analyst has rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $5.61.

About Paramount Group

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.