Paramount Group Inc (NYSE:PGRE) Position Lowered by Parametric Portfolio Associates LLC

Parametric Portfolio Associates LLC cut its holdings in shares of Paramount Group Inc (NYSE:PGRE) by 3.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 608,252 shares of the financial services provider’s stock after selling 19,458 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Paramount Group were worth $8,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Pearl River Capital LLC boosted its position in Paramount Group by 1,298.9% in the first quarter. Pearl River Capital LLC now owns 5,204 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 4,832 shares during the last quarter. Quadrant Capital Group LLC purchased a new position in Paramount Group in the first quarter worth about $91,000. Oppenheimer Asset Management Inc. purchased a new position in Paramount Group in the fourth quarter worth about $100,000. Nisa Investment Advisors LLC purchased a new position in Paramount Group in the first quarter worth about $157,000. Finally, HRT Financial LLC purchased a new position in Paramount Group in the fourth quarter worth about $151,000. 61.03% of the stock is currently owned by institutional investors.

Shares of NYSE:PGRE opened at $14.76 on Friday. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 15.22, a PEG ratio of 3.89 and a beta of 0.81. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.03 and a current ratio of 3.03. Paramount Group Inc has a 52-week low of $12.18 and a 52-week high of $16.05.

Paramount Group (NYSE:PGRE) last announced its earnings results on Wednesday, May 1st. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.21). The firm had revenue of $191.79 million during the quarter, compared to analysts’ expectations of $187.26 million. Paramount Group had a return on equity of 0.24% and a net margin of 1.53%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 earnings per share. As a group, equities analysts anticipate that Paramount Group Inc will post 0.91 EPS for the current year.

Several research analysts have issued reports on PGRE shares. Zacks Investment Research cut Paramount Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 16th. Morgan Stanley raised Paramount Group from an “underweight” rating to an “equal weight” rating and set a $14.46 target price on the stock in a research report on Wednesday, March 13th. Finally, Evercore ISI raised 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. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Paramount Group presently has a consensus rating of “Hold” and a consensus price target of $17.15.

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About Paramount Group

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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Institutional Ownership by Quarter for Paramount Group (NYSE:PGRE)

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