Paramount Group, Inc. (NYSE:PGRE) was downgraded by analysts at TheStreet from a “c” rating to a “d+” rating in a research note issued on Thursday.
Separately, Zacks Investment Research upgraded Paramount Group from a “sell” rating to a “hold” rating in a report on Saturday, July 29th. Four analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $16.42.
Shares of Paramount Group (NYSE:PGRE) traded up $0.04 during mid-day trading on Thursday, reaching $16.20. 774,681 shares of the company traded hands, compared to its average volume of 1,155,376. Paramount Group has a 12-month low of $15.14 and a 12-month high of $17.58. The firm has a market cap of $3,860.00 and a P/E ratio of 19.07.
Institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement Association of Colorado lifted its position in Paramount Group by 9.2% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 6,238 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 526 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Paramount Group by 1.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,625 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 75 shares in the last quarter. Synovus Financial Corp acquired a new stake in shares of Paramount Group during the 2nd quarter valued at approximately $256,000. GAM Holding AG raised its position in shares of Paramount Group by 37.7% during the 2nd quarter. GAM Holding AG now owns 16,813 shares of the financial services provider’s stock valued at $269,000 after acquiring an additional 4,600 shares in the last quarter. Finally, Teton Advisors Inc. raised its position in shares of Paramount Group by 37.7% during the 3rd quarter. Teton Advisors Inc. now owns 17,900 shares of the financial services provider’s stock valued at $286,000 after acquiring an additional 4,900 shares in the last quarter. 62.61% of the stock is currently owned by hedge funds and other institutional investors.
About Paramount Group
Paramount Group, Inc is a fully-integrated real estate investment trust (REIT) focused on owning, operating, managing, acquiring and redeveloping Class A office properties in select central business district submarkets of New York City, Washington, District of Columbia (DC) and San Francisco. The Company conducts its business through, and substantially all its interests in properties and investments are held by, Paramount Group Operating Partnership LP (the Operating Partnership).
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