Paramount Group (NYSE:PGRE) Price Target Cut to $5.00 by Analysts at Mizuho

Paramount Group (NYSE:PGRE) had its price target lowered by Mizuho from $6.00 to $5.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

Paramount Group Trading Up 0.6 %

Shares of NYSE:PGRE opened at $4.53 on Tuesday. Paramount Group has a 52 week low of $4.21 and a 52 week high of $5.47. The company’s 50 day moving average is $4.75 and its two-hundred day moving average is $4.88. The company has a current ratio of 4.45, a quick ratio of 4.45 and a debt-to-equity ratio of 0.91. The company has a market cap of $984.27 million, a PE ratio of -4.62 and a beta of 1.22.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PGRE. Cohen & Steers Inc. purchased a new position in shares of Paramount Group in the 4th quarter valued at $9,231,000. Solel Partners LP purchased a new position in shares of Paramount Group in the 4th quarter valued at $6,719,000. Long Pond Capital LP grew its position in shares of Paramount Group by 12.5% in the 4th quarter. Long Pond Capital LP now owns 10,053,335 shares of the financial services provider’s stock valued at $49,663,000 after buying an additional 1,116,395 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Paramount Group by 398.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,388,257 shares of the financial services provider’s stock valued at $6,830,000 after buying an additional 1,109,485 shares during the last quarter. Finally, Northern Trust Corp grew its position in shares of Paramount Group by 40.1% in the 4th quarter. Northern Trust Corp now owns 2,891,068 shares of the financial services provider’s stock valued at $14,282,000 after buying an additional 827,187 shares during the last quarter. 65.64% of the stock is owned by hedge funds and other institutional investors.

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.