Two Sigma Advisers LP lessened its stake in shares of Paramount Group Inc (NYSE:PGRE) by 2.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 379,700 shares of the financial services provider’s stock after selling 8,900 shares during the period. Two Sigma Advisers LP owned 0.16% of Paramount Group worth $4,769,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. bought a new position in Paramount Group during the fourth quarter valued at approximately $100,000. M&T Bank Corp purchased a new stake in Paramount Group during the fourth quarter valued at approximately $155,000. Stevens Capital Management LP purchased a new stake in Paramount Group during the fourth quarter valued at approximately $158,000. Signition LP purchased a new stake in Paramount Group during the fourth quarter valued at approximately $202,000. Finally, Quantamental Technologies LLC purchased a new stake in Paramount Group during the fourth quarter valued at approximately $275,000. 68.64% of the stock is owned by institutional investors and hedge funds.
PGRE stock traded up $0.05 during midday trading on Wednesday, reaching $14.55. 1,052,062 shares of the company traded hands, compared to its average volume of 1,093,997. The company has a debt-to-equity ratio of 0.73, a current ratio of 3.28 and a quick ratio of 3.28. Paramount Group Inc has a 52-week low of $12.18 and a 52-week high of $16.05. The company has a market cap of $3.30 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 3.42 and a beta of 0.87.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were issued a $0.10 dividend. The ex-dividend date was Thursday, March 28th. This represents a $0.40 annualized dividend and a dividend yield of 2.75%. Paramount Group’s payout ratio is 41.67%.
A number of brokerages have issued reports on PGRE. Zacks Investment Research downgraded Paramount Group from a “hold” rating to a “sell” rating in a research report on Friday, March 29th. Evercore ISI upgraded Paramount Group from an “in-line” rating to an “outperform” rating in a research report on Monday, April 1st. They noted that the move was a valuation call. Finally, Morgan Stanley upgraded Paramount Group from an “underweight” rating to an “equal weight” rating and set a $14.46 price objective on the stock in a research report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $17.15.
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Paramount Group Company 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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