Paramount Group (NYSE:PGRE) Upgraded to Hold at ValuEngine

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

Separately, Zacks Investment Research raised shares of Paramount Group from a hold rating to a buy rating and set a $15.00 price target for the company in a research report on Friday, June 28th.

Paramount Group stock opened at $12.82 on Wednesday. Paramount Group has a fifty-two week low of $12.18 and a fifty-two week high of $15.11. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a 50 day moving average price of $13.16 and a 200 day moving average price of $13.92. The company has a market capitalization of $3.05 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 3.40 and a beta of 0.77.

Paramount Group (NYSE:PGRE) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $0.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.21). Paramount Group had a net margin of 6.77% and a return on equity of 1.06%. The company had revenue of $188.58 million during the quarter, compared to analyst estimates of $187.21 million. During the same quarter last year, the business posted $0.24 EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. As a group, equities research analysts forecast that Paramount Group will post 0.93 earnings per share for the current year.

The firm also recently declared a — dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a yield of 3%. Paramount Group’s dividend payout ratio is presently 41.67%.

A number of hedge funds have recently modified their holdings of PGRE. Long Pond Capital LP purchased a new position in Paramount Group in the 1st quarter valued at approximately $89,089,000. Renaissance Technologies LLC boosted its position in Paramount Group by 26.9% in the 2nd quarter. Renaissance Technologies LLC now owns 5,099,299 shares of the financial services provider’s stock valued at $71,441,000 after buying an additional 1,081,299 shares during the period. Crestline Management LP purchased a new position in Paramount Group in the 2nd quarter valued at approximately $13,353,000. Nuveen Asset Management LLC boosted its position in Paramount Group by 141.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,514,333 shares of the financial services provider’s stock valued at $21,216,000 after buying an additional 887,291 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Paramount Group by 17.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,698,327 shares of the financial services provider’s stock valued at $37,494,000 after buying an additional 392,972 shares during the period. 61.16% 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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