Paramount Group (PGRE) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Paramount Group (NYSE:PGRE) from a buy rating to a hold rating in a research note issued to investors on Saturday.

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. “

Separately, Morgan Stanley raised shares of Paramount Group from an underweight rating to an equal weight rating and set a $14.46 target price for the company in a research report on Wednesday, March 13th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $17.15.

Paramount Group stock opened at $14.36 on Friday. The firm has a market capitalization of $3.37 billion, a P/E ratio of 14.96, a price-to-earnings-growth ratio of 4.10 and a beta of 0.87. Paramount Group has a 1-year low of $12.18 and a 1-year high of $16.05. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 0.73.

Paramount Group (NYSE:PGRE) last released its earnings results on Wednesday, February 13th. The financial services provider reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.21). The business had revenue of $190.68 million during the quarter, compared to the consensus estimate of $186.53 million. Paramount Group had a net margin of 1.21% and a return on equity of 0.18%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the business posted $0.22 EPS. On average, research analysts anticipate that Paramount Group will post 0.99 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, March 28th. Paramount Group’s dividend payout ratio (DPR) is presently 41.67%.

Several institutional investors and hedge funds have recently made changes to their positions in PGRE. Oppenheimer Asset Management Inc. bought a new position in shares of Paramount Group in the 4th quarter valued at about $100,000. HRT Financial LLC bought a new position in shares of Paramount Group in the 4th quarter valued at about $151,000. M&T Bank Corp bought a new position in shares of Paramount Group in the 4th quarter valued at about $155,000. Stevens Capital Management LP bought a new position in shares of Paramount Group in the 4th quarter valued at about $158,000. Finally, Cetera Advisors LLC bought a new position in shares of Paramount Group in the 4th quarter valued at about $171,000. 60.61% of the stock is owned by institutional investors.

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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