Paramount Group (NYSE:PGRE) Price Target Lowered to $4.50 at Morgan Stanley

Paramount Group (NYSE:PGRE) had its price target dropped by Morgan Stanley from $4.70 to $4.50 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target suggests a potential downside of 4.05% from the company’s previous close.

Several other analysts also recently weighed in on PGRE. Evercore ISI upgraded shares of Paramount Group from an “underperform” rating to an “in-line” rating and set a $5.00 price objective for the company in a research report on Monday, March 18th. StockNews.com cut shares of Paramount Group from a “hold” rating to a “sell” rating in a research note on Monday, February 19th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.60.

Paramount Group Stock Up 2.0 %

Shares of NYSE PGRE traded up $0.09 during midday trading on Thursday, hitting $4.69. The company’s stock had a trading volume of 84,478 shares, compared to its average volume of 1,391,278. The business’s fifty day simple moving average is $4.66 and its two-hundred day simple moving average is $4.75. The company has a debt-to-equity ratio of 0.95, a current ratio of 4.61 and a quick ratio of 4.61. Paramount Group has a 1 year low of $4.06 and a 1 year high of $5.92. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -3.91, a price-to-earnings-growth ratio of 0.23 and a beta of 1.22.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PGRE. Manchester Capital Management LLC increased its stake in Paramount Group by 785.9% in the fourth quarter. Manchester Capital Management LLC now owns 5,076 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 4,503 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Paramount Group by 35.7% in the second quarter. PNC Financial Services Group Inc. now owns 7,991 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 2,103 shares during the last quarter. FMR LLC raised its position in shares of Paramount Group by 142.1% in the first quarter. FMR LLC now owns 7,909 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 4,642 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Paramount Group by 335.9% in the first quarter. Tower Research Capital LLC TRC now owns 8,278 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 6,379 shares during the period. Finally, Ieq Capital LLC bought a new position in shares of Paramount Group in the third quarter valued at about $48,000. Institutional investors own 65.64% of the company’s stock.

Paramount Group Company Profile

Paramount Group, Inc ("Paramount" or the "Company") 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 and San Francisco.