State of Alaska Department of Revenue grew its holdings in Paramount Group Inc (NYSE:PGRE) by 12.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 100,817 shares of the financial services provider’s stock after purchasing an additional 11,212 shares during the quarter. State of Alaska Department of Revenue’s holdings in Paramount Group were worth $1,411,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Pearl River Capital LLC boosted its stake in Paramount Group by 1,298.9% during the 1st quarter. Pearl River Capital LLC now owns 5,204 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 4,832 shares during the last quarter. Quadrant Capital Group LLC bought a new position in Paramount Group during the 1st quarter worth approximately $91,000. Nisa Investment Advisors LLC bought a new position in Paramount Group in the first quarter valued at approximately $157,000. Exane Derivatives bought a new position in Paramount Group in the second quarter valued at approximately $193,000. Finally, Machina Capital S.A.S. lifted its stake in Paramount Group by 207.7% in the second quarter. Machina Capital S.A.S. now owns 14,823 shares of the financial services provider’s stock valued at $208,000 after buying an additional 10,005 shares in the last quarter. 60.60% of the stock is currently owned by institutional investors.
PGRE traded down $0.07 during trading on Tuesday, reaching $13.02. The company had a trading volume of 23,429 shares, compared to its average volume of 991,019. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.11 and a current ratio of 1.11. Paramount Group Inc has a 12 month low of $12.18 and a 12 month high of $16.05. The company’s fifty day moving average price is $14.05. The stock has a market capitalization of $3.15 billion, a P/E ratio of 13.58, a P/E/G ratio of 3.37 and a beta of 0.76.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.07%. Paramount Group’s dividend payout ratio (DPR) is presently 41.67%.
A number of research analysts have weighed in on PGRE shares. Zacks Investment Research raised shares of Paramount Group from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Friday, June 28th. ValuEngine lowered shares of Paramount Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $16.82.
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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