Paramount Group (NYSE:PGRE) Stock Crosses Below 50 Day Moving Average – Here’s Why

Paramount Group, Inc. (NYSE:PGRE) shares crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $4.83 and traded as low as $4.54. Paramount Group shares last traded at $4.56, with a volume of 753,525 shares changing hands.

Paramount Group Stock Up 1.4 %

The company’s 50 day moving average price is $4.81 and its two-hundred day moving average price is $4.94. The stock has a market cap of $1.01 billion, a P/E ratio of -4.74 and a beta of 1.22. The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.91.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PGRE. Long Pond Capital LP raised its position in shares of Paramount Group by 131.4% in the 2nd quarter. Long Pond Capital LP now owns 7,501,361 shares of the financial services provider’s stock valued at $34,731,000 after purchasing an additional 4,259,635 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Paramount Group by 7.9% in the third quarter. Geode Capital Management LLC now owns 4,695,561 shares of the financial services provider’s stock worth $23,107,000 after buying an additional 345,450 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Paramount Group by 21.4% during the third quarter. JPMorgan Chase & Co. now owns 2,517,829 shares of the financial services provider’s stock worth $12,388,000 after buying an additional 443,777 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Paramount Group by 0.7% during the second quarter. Dimensional Fund Advisors LP now owns 2,310,207 shares of the financial services provider’s stock valued at $10,696,000 after buying an additional 15,806 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 acquiring an additional 1,109,485 shares during the period. Institutional investors own 65.64% of the company’s stock.

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.