1,360,076 Shares in Paramount Group, Inc. (NYSE:PGRE) Acquired by Solel Partners LP

Solel Partners LP acquired a new stake in Paramount Group, Inc. (NYSE:PGRE) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,360,076 shares of the financial services provider’s stock, valued at approximately $6,719,000. Paramount Group comprises about 1.3% of Solel Partners LP’s portfolio, making the stock its 17th biggest holding. Solel Partners LP owned 0.63% of Paramount Group at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in Paramount Group by 21.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,517,829 shares of the financial services provider’s stock worth $12,388,000 after purchasing an additional 443,777 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Paramount Group by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 26,922,796 shares of the financial services provider’s stock worth $132,999,000 after buying an additional 477,940 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of Paramount Group during the third quarter worth $643,000. Barclays PLC lifted its stake in shares of Paramount Group by 95.5% in the 3rd quarter. Barclays PLC now owns 455,700 shares of the financial services provider’s stock valued at $2,242,000 after acquiring an additional 222,656 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Paramount Group by 11.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,895,573 shares of the financial services provider’s stock valued at $14,304,000 after acquiring an additional 292,392 shares in the last quarter. 65.64% of the stock is currently owned by institutional investors.

Paramount Group Stock Up 7.3 %

Paramount Group stock opened at $4.61 on Friday. The firm has a 50 day moving average price of $4.24 and a two-hundred day moving average price of $4.64. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.45 and a current ratio of 4.45. Paramount Group, Inc. has a 52-week low of $3.75 and a 52-week high of $5.47. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of -4.70 and a beta of 1.10.

Paramount Group (NYSE:PGRE) last released its earnings results on Wednesday, April 30th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The business had revenue of $187.02 million for the quarter, compared to analyst estimates of $180.79 million. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. Equities analysts predict that Paramount Group, Inc. will post 0.78 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PGRE shares. StockNews.com cut Paramount Group from a “hold” rating to a “sell” rating in a report on Wednesday, April 23rd. Mizuho dropped their price objective on shares of Paramount Group from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, February 25th. Finally, Morgan Stanley reissued an “underweight” rating and set a $3.25 target price on shares of Paramount Group in a report on Tuesday, April 15th.

Insider Buying and Selling

In related news, CEO Albert P. Behler purchased 10,000 shares of Paramount Group stock in a transaction on Friday, March 21st. The stock was acquired at an average cost of $4.15 per share, for a total transaction of $41,500.00. Following the completion of the acquisition, the chief executive officer now owns 751,812 shares of the company’s stock, valued at $3,120,019.80. This trade represents a 1.35 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 13.80% of the stock is currently owned by insiders.

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. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.