Paramount Group, Inc. (NYSE:PGRE) Receives Average Recommendation of “Reduce” from Brokerages

Shares of Paramount Group, Inc. (NYSE:PGRE) have received an average recommendation of “Reduce” from the five analysts that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $4.70.

Separately, Wells Fargo & Company increased their price target on shares of Paramount Group from $3.50 to $4.00 and gave the company an “underweight” rating in a report on Wednesday, September 11th.

Paramount Group Stock Performance

Shares of PGRE stock opened at $5.08 on Wednesday. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of -4.38, a price-to-earnings-growth ratio of 0.24 and a beta of 1.25. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.39 and a current ratio of 4.39. Paramount Group has a one year low of $4.06 and a one year high of $5.92. The company’s 50-day moving average is $4.97 and its 200 day moving average is $4.75.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PGRE. New York State Common Retirement Fund grew its position in Paramount Group by 9.1% in the 4th quarter. New York State Common Retirement Fund now owns 77,454 shares of the financial services provider’s stock worth $400,000 after purchasing an additional 6,444 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Paramount Group by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,756,225 shares of the financial services provider’s stock worth $24,590,000 after acquiring an additional 152,622 shares during the period. Jump Financial LLC bought a new stake in shares of Paramount Group in the fourth quarter worth $128,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Paramount Group by 13.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 105,835 shares of the financial services provider’s stock valued at $530,000 after acquiring an additional 12,653 shares during the last quarter. Finally, Great Lakes Advisors LLC bought a new position in Paramount Group in the fourth quarter valued at about $85,000. 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.