HBK Investments L P Sells 422,657 Shares of Paramount Group, Inc. (NYSE:PGRE)

HBK Investments L P cut its stake in Paramount Group, Inc. (NYSE:PGRE) by 15.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,396,622 shares of the financial services provider’s stock after selling 422,657 shares during the quarter. HBK Investments L P owned 1.10% of Paramount Group worth $11,791,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Long Pond Capital LP grew its stake in shares of Paramount Group by 131.4% in the second quarter. Long Pond Capital LP now owns 7,501,361 shares of the financial services provider’s stock worth $34,731,000 after acquiring an additional 4,259,635 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Paramount Group by 0.7% in the second quarter. Dimensional Fund Advisors LP now owns 2,310,207 shares of the financial services provider’s stock worth $10,696,000 after acquiring an additional 15,806 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Paramount Group by 398.0% in the third 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 worth $6,830,000 after acquiring an additional 1,109,485 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Paramount Group by 6.5% in the second quarter. Bank of New York Mellon Corp now owns 1,043,027 shares of the financial services provider’s stock worth $4,829,000 after buying an additional 63,789 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Paramount Group by 4,007.2% in the second quarter. Millennium Management LLC now owns 953,947 shares of the financial services provider’s stock worth $4,417,000 after buying an additional 930,721 shares during the last quarter. 65.64% of the stock is currently owned by institutional investors.

Paramount Group Stock Performance

Shares of NYSE:PGRE opened at $4.89 on Friday. The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.91. Paramount Group, Inc. has a 1-year low of $4.21 and a 1-year high of $5.92. The firm’s 50 day simple moving average is $5.00 and its two-hundred day simple moving average is $4.88.

Wall Street Analyst Weigh In

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

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.