Paramount Group, Inc. (NYSE:PGRE) Short Interest Down 17.8% in October

Paramount Group, Inc. (NYSE:PGRE) was the recipient of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 4,110,000 shares, a drop of 17.8% from the September 30th total of 5,000,000 shares. Based on an average trading volume of 916,500 shares, the short-interest ratio is currently 4.5 days. Approximately 2.3% of the shares of the stock are short sold.

Paramount Group Trading Down 2.5 %

Shares of Paramount Group stock opened at $5.07 on Monday. The firm has a market capitalization of $1.10 billion, a PE ratio of -4.37 and a beta of 1.25. Paramount Group has a twelve month low of $4.06 and a twelve month high of $5.92. The firm’s 50-day moving average price is $5.00 and its 200 day moving average price is $4.84. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 0.91.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company raised their price target on shares of Paramount Group from $3.50 to $4.00 and gave the company an “underweight” rating in a research note on Wednesday, September 11th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $4.38.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. 1620 Investment Advisors Inc. purchased a new position in Paramount Group in the 2nd quarter valued at about $52,000. Manchester Capital Management LLC lifted its stake in Paramount Group by 139.1% in the 1st quarter. Manchester Capital Management LLC now owns 12,137 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 7,061 shares in the last quarter. Marshall Wace LLP purchased a new position in Paramount Group in the 2nd quarter worth approximately $74,000. MQS Management LLC lifted its stake in Paramount Group by 98.7% in the 1st quarter. MQS Management LLC now owns 27,514 shares of the financial services provider’s stock worth $129,000 after purchasing an additional 13,665 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Paramount Group in the 3rd quarter worth approximately $136,000. 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. 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.