Paramount Group (NYSE:PGRE) Price Target Lowered to $4.50 at Morgan Stanley

Paramount Group (NYSE:PGRE) had its target price lowered by equities research analysts at Morgan Stanley from $4.70 to $4.50 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target points to a potential downside of 4.05% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. Evercore ISI upgraded shares of Paramount Group from an “underperform” rating to an “in-line” rating and set a $5.00 price objective for the company in a report on Monday, March 18th. StockNews.com cut Paramount Group from a “hold” rating to a “sell” rating in a research note on Monday, February 19th. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Paramount Group currently has an average rating of “Hold” and an average price target of $4.60.

Paramount Group Price Performance

NYSE:PGRE traded up $0.09 during trading hours on Thursday, hitting $4.69. 84,478 shares of the stock were exchanged, compared to its average volume of 1,391,278. The company has a market cap of $1.02 billion, a P/E ratio of -3.91, a P/E/G ratio of 0.23 and a beta of 1.22. The firm’s fifty day moving average price is $4.66 and its 200 day moving average price is $4.75. Paramount Group has a 52-week low of $4.06 and a 52-week high of $5.92. The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 0.95.

Institutional Investors Weigh In On Paramount Group

Several hedge funds have recently bought and sold shares of PGRE. Norges Bank acquired a new position in shares of Paramount Group during the fourth quarter worth approximately $109,167,000. Centersquare Investment Management LLC bought a new stake in Paramount Group in the fourth quarter valued at $15,057,000. Bank of America Corp DE boosted its stake in shares of Paramount Group by 1,607.2% in the 1st quarter. Bank of America Corp DE now owns 2,103,046 shares of the financial services provider’s stock valued at $9,590,000 after purchasing an additional 1,979,857 shares in the last quarter. Rush Island Management LP acquired a new stake in shares of Paramount Group during the 3rd quarter worth about $8,379,000. Finally, State Street Corp raised its stake in shares of Paramount Group by 14.6% in the first quarter. State Street Corp now owns 9,398,448 shares of the financial services provider’s stock valued at $103,244,000 after acquiring an additional 1,195,131 shares during the last quarter. 65.64% of the stock is owned by hedge funds and other institutional investors.

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.