Paramount Group (PGRE) Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Paramount Group (NYSE:PGRE) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

According to Zacks, “Paramount Group, Inc. is a real estate investment trust focused on owning, operating and managing Class A office properties. It provides asset management, leasing, acquisitions, redevelopment and financing. The Company owns properties in New York City, Washington D.C. and San Francisco. Paramount Group, Inc. is based in the United States. “

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A number of other equities analysts also recently weighed in on the stock. TheStreet downgraded shares of Paramount Group from a c rating to a d+ rating in a research note on Thursday, November 16th. Mizuho reissued a sell rating and set a $14.00 price target on shares of Paramount Group in a research note on Friday, February 23rd. Finally, Goldman Sachs Group raised shares of Paramount Group from a sell rating to a neutral rating and set a $16.00 price target for the company in a research note on Tuesday, February 6th. Four research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Paramount Group currently has an average rating of Hold and an average target price of $16.40.

Paramount Group (PGRE) opened at $14.45 on Wednesday. Paramount Group has a 12 month low of $13.70 and a 12 month high of $17.25. The firm has a market cap of $3,474.18, a PE ratio of 39.05, a price-to-earnings-growth ratio of 3.60 and a beta of 0.72.

Paramount Group (NYSE:PGRE) last announced its earnings results on Thursday, February 15th. The financial services provider reported $0.22 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.22. Paramount Group had a net margin of 12.02% and a return on equity of 1.75%. The company had revenue of $180.26 million during the quarter, compared to the consensus estimate of $179.69 million. During the same period in the previous year, the firm posted $0.17 earnings per share. The company’s revenue was up 8.1% on a year-over-year basis. equities analysts predict that Paramount Group will post 0.94 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of PGRE. Cbre Clarion Securities LLC bought a new stake in shares of Paramount Group during the fourth quarter worth approximately $63,771,000. BlackRock Inc. raised its stake in shares of Paramount Group by 6.1% during the fourth quarter. BlackRock Inc. now owns 14,882,909 shares of the financial services provider’s stock worth $235,895,000 after buying an additional 855,620 shares during the last quarter. AXA raised its stake in shares of Paramount Group by 189.3% during the fourth quarter. AXA now owns 739,973 shares of the financial services provider’s stock worth $11,728,000 after buying an additional 484,191 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of Paramount Group by 28,976.5% during the third quarter. Asset Management One Co. Ltd. now owns 431,204 shares of the financial services provider’s stock worth $6,868,000 after buying an additional 429,721 shares during the last quarter. Finally, Trustees of Dartmouth College bought a new stake in shares of Paramount Group during the fourth quarter worth approximately $6,638,000. 63.40% of the stock is owned by institutional investors and hedge funds.

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Paramount Group Company Profile

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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