Paramount Group (NYSE:PGRE) Shares Gap Up – Time to Buy?

Paramount Group, Inc. (NYSE:PGRE) gapped up before the market opened on Tuesday . The stock had previously closed at $5.41, but opened at $5.56. Paramount Group shares last traded at $5.65, with a volume of 887,310 shares.

Wall Street Analysts Forecast Growth

PGRE has been the topic of several recent research reports. StockNews.com cut shares of Paramount Group from a “hold” rating to a “sell” rating in a research report on Wednesday, April 23rd. Evercore ISI raised shares of Paramount Group from an “in-line” rating to an “outperform” rating and increased their price target for the company from $4.50 to $8.00 in a research note on Tuesday. Wells Fargo & Company decreased their price objective on Paramount Group from $5.00 to $4.50 and set an “underweight” rating on the stock in a report on Monday. Morgan Stanley restated an “underweight” rating and issued a $3.25 target price on shares of Paramount Group in a research report on Tuesday, April 15th. Finally, Mizuho reduced their price objective on shares of Paramount Group from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th. Three research analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Paramount Group has a consensus rating of “Hold” and a consensus price target of $5.19.

Paramount Group Trading Up 2.0%

The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.91. The business has a 50-day simple moving average of $4.39 and a 200-day simple moving average of $4.61. The company has a market cap of $1.26 billion, a PE ratio of -5.86 and a beta of 1.12.

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

Insider Activity at Paramount Group

In related news, CEO Albert P. Behler acquired 10,000 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were acquired at an average price of $4.15 per share, with a total value of $41,500.00. Following the completion of the transaction, the chief executive officer now owns 751,812 shares of the company’s stock, valued at $3,120,019.80. The trade was a 1.35% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 13.80% of the company’s stock.

Institutional Investors Weigh In On Paramount Group

Large investors have recently bought and sold shares of the stock. Jane Street Group LLC increased its stake in shares of Paramount Group by 146.1% during the first quarter. Jane Street Group LLC now owns 219,417 shares of the financial services provider’s stock worth $943,000 after buying an additional 130,255 shares during the period. Great Lakes Advisors LLC grew its holdings in Paramount Group by 64.5% during the 1st quarter. Great Lakes Advisors LLC now owns 30,512 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 11,964 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in Paramount Group by 19.5% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 29,360 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 4,790 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Paramount Group by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 109,563 shares of the financial services provider’s stock valued at $471,000 after purchasing an additional 4,558 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Paramount Group in the 1st quarter valued at $322,000. Hedge funds and other 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. 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.