Paramount Group (NYSE:PGRE) Sets New 52-Week Low – Here’s Why

Paramount Group, Inc. (NYSE:PGRE) shares hit a new 52-week low on Monday . The company traded as low as $3.97 and last traded at $4.00, with a volume of 1746056 shares trading hands. The stock had previously closed at $4.05.

Analyst Upgrades and Downgrades

Separately, Mizuho decreased their price target on shares of Paramount Group from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Paramount Group presently has a consensus rating of “Hold” and an average target price of $4.63.

Paramount Group Trading Down 0.1 %

The firm has a market capitalization of $879.90 million, a price-to-earnings ratio of -4.08 and a beta of 1.22. The business has a 50-day moving average of $4.59 and a two-hundred day moving average of $4.83. The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.91.

Paramount Group (NYSE:PGRE) last announced its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The firm had revenue of $186.27 million during the quarter, compared to analysts’ expectations of $180.41 million. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. Research analysts predict that Paramount Group, Inc. will post 0.78 EPS for the current fiscal year.

Institutional Trading of Paramount Group

A number of institutional investors have recently bought and sold shares of PGRE. JPMorgan Chase & Co. grew its holdings in shares of Paramount Group by 21.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,517,829 shares of the financial services provider’s stock valued at $12,388,000 after buying an additional 443,777 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Paramount Group by 782.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,825 shares of the financial services provider’s stock valued at $1,756,000 after acquiring an additional 316,399 shares in the last quarter. Geode Capital Management LLC lifted its position in Paramount Group by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,695,561 shares of the financial services provider’s stock valued at $23,107,000 after acquiring an additional 345,450 shares in the last quarter. Franklin Resources Inc. bought a new stake in Paramount Group in the 3rd quarter valued at $643,000. Finally, Barclays PLC lifted its position in Paramount Group by 95.5% in the 3rd quarter. Barclays PLC now owns 455,700 shares of the financial services provider’s stock valued at $2,242,000 after acquiring an additional 222,656 shares in the last quarter. Institutional investors and hedge funds own 65.64% of the company’s stock.

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.