Presima Inc. boosted its stake in Paramount Group Inc (NYSE:PGRE) by 17.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,306,600 shares of the financial services provider’s stock after purchasing an additional 648,300 shares during the period. Paramount Group comprises 8.2% of Presima Inc.’s investment portfolio, making the stock its 3rd largest position. Presima Inc. owned 1.79% of Paramount Group worth $66,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in the business. Acadian Asset Management LLC purchased a new stake in Paramount Group during the second quarter valued at $212,000. Fox Run Management L.L.C. purchased a new stake in Paramount Group during the second quarter valued at $306,000. Bank of Montreal Can increased its position in Paramount Group by 82.5% during the second quarter. Bank of Montreal Can now owns 1,349,806 shares of the financial services provider’s stock valued at $20,786,000 after acquiring an additional 610,342 shares during the last quarter. Heitman Real Estate Securities LLC increased its position in Paramount Group by 40.3% during the first quarter. Heitman Real Estate Securities LLC now owns 958,078 shares of the financial services provider’s stock valued at $15,974,000 after acquiring an additional 275,132 shares during the last quarter. Finally, Xact Kapitalforvaltning AB increased its position in Paramount Group by 75.1% during the first quarter. Xact Kapitalforvaltning AB now owns 25,420 shares of the financial services provider’s stock valued at $362,000 after acquiring an additional 10,900 shares during the last quarter. 63.72% of the stock is currently owned by institutional investors and hedge funds.
Paramount Group traded down $0.10, reaching $15.51, during mid-day trading on Friday, MarketBeat reports. 1,656,256 shares of the stock traded hands, compared to its average volume of 1,088,599. Paramount Group Inc has a 12-month low of $13.70 and a 12-month high of $16.61. The stock has a market cap of $3.75 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 5.23 and a beta of 0.67.
The business also recently declared a quarterly dividend, which was paid on Friday, July 13th. Shareholders of record on Friday, June 29th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.58%. The ex-dividend date was Thursday, June 28th. Paramount Group’s dividend payout ratio is presently 44.94%.
A number of research firms recently commented on PGRE. ValuEngine upgraded Paramount Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. Mizuho upgraded Paramount Group from an “underperform” rating to a “neutral” rating in a research report on Monday, May 7th. Finally, Zacks Investment Research cut Paramount Group from a “buy” rating to a “hold” rating in a research report on Friday, June 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $15.38.
Paramount Group Profile
Headquartered in New York City, Paramount Group, Inc 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 City, Washington, DC and San Francisco.
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