Paramount Group (NYSE:PGRE) Lowered to “Sell” at ValuEngine

ValuEngine lowered shares of Paramount Group (NYSE:PGRE) from a hold rating to a sell rating in a report published on Thursday, ValuEngine reports.

Separately, Zacks Investment Research upgraded Paramount Group from a hold rating to a buy rating and set a $15.00 target price on the stock in a research report on Friday, June 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. Paramount Group presently has a consensus rating of Hold and a consensus target price of $16.82.

PGRE traded down $0.18 during midday trading on Thursday, hitting $13.44. 1,671,630 shares of the company were exchanged, compared to its average volume of 862,822. The business has a 50 day moving average of $14.13. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 3.53 and a beta of 0.76. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 0.74. Paramount Group has a 1-year low of $12.18 and a 1-year high of $16.05.

Paramount Group (NYSE:PGRE) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.21). The company had revenue of $188.58 million for the quarter, compared to analyst estimates of $187.21 million. Paramount Group had a return on equity of 1.05% and a net margin of 6.77%. Paramount Group’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 earnings per share. On average, research analysts anticipate that Paramount Group will post 0.93 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend was Thursday, June 27th. Paramount Group’s dividend payout ratio (DPR) is presently 41.67%.

Large investors have recently bought and sold shares of the company. SG Americas Securities LLC grew its position in shares of Paramount Group by 89.9% during the 1st quarter. SG Americas Securities LLC now owns 64,176 shares of the financial services provider’s stock valued at $911,000 after acquiring an additional 30,376 shares during the period. Martingale Asset Management L P acquired a new stake in Paramount Group in the 1st quarter worth about $8,220,000. Dimensional Fund Advisors LP boosted its holdings in Paramount Group by 5.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,353,447 shares of the financial services provider’s stock worth $42,120,000 after buying an additional 176,090 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Paramount Group by 3.7% in the 4th quarter. Nordea Investment Management AB now owns 311,667 shares of the financial services provider’s stock worth $3,914,000 after buying an additional 11,233 shares during the last quarter. Finally, Long Pond Capital LP acquired a new stake in Paramount Group in the 1st quarter worth about $89,089,000. Hedge funds and other institutional investors own 60.58% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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