Paramount Group’s (PGRE) Neutral Rating Reiterated at BTIG Research

BTIG Research reaffirmed their neutral rating on shares of Paramount Group (NYSE:PGRE) in a report published on Wednesday morning,Benzinga reports.

A number of other equities analysts have also weighed in on PGRE. Wells Fargo & Company lowered their price objective on Paramount Group from $4.50 to $4.20 and set an “underweight” rating on the stock in a research note on Wednesday, August 27th. Evercore ISI raised Paramount Group from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $4.50 to $8.00 in a research note on Tuesday, May 20th. Finally, Mizuho boosted their price objective on Paramount Group from $5.00 to $6.00 and gave the stock an “outperform” rating in a research note on Monday, July 14th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.96.

Paramount Group Stock Performance

Shares of NYSE:PGRE opened at $6.53 on Wednesday. The firm has a market capitalization of $1.44 billion, a PE ratio of -18.14 and a beta of 1.38. The company has a debt-to-equity ratio of 0.90, a current ratio of 5.91 and a quick ratio of 5.91. Paramount Group has a 1 year low of $3.75 and a 1 year high of $7.85. The business’s 50 day moving average price is $6.74 and its 200-day moving average price is $5.66.

Paramount Group (NYSE:PGRE) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.03. The company had revenue of $177.05 million during the quarter, compared to the consensus estimate of $173.98 million. Paramount Group had a negative net margin of 10.49% and a negative return on equity of 1.92%. Paramount Group has set its FY 2025 guidance at 0.550-0.590 EPS. As a group, equities research analysts expect that Paramount Group will post 0.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paramount Group

Several large investors have recently modified their holdings of the business. Squarepoint Ops LLC lifted its stake in shares of Paramount Group by 235.9% in the 2nd quarter. Squarepoint Ops LLC now owns 217,391 shares of the financial services provider’s stock valued at $1,326,000 after purchasing an additional 152,663 shares during the last quarter. State of Wyoming lifted its stake in shares of Paramount Group by 195.5% in the 2nd quarter. State of Wyoming now owns 71,000 shares of the financial services provider’s stock valued at $433,000 after purchasing an additional 46,974 shares during the last quarter. Hudson Bay Capital Management LP acquired a new position in shares of Paramount Group in the 2nd quarter valued at $6,109,000. Headlands Technologies LLC acquired a new position in shares of Paramount Group in the 2nd quarter valued at $164,000. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of Paramount Group by 14.6% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 285,652 shares of the financial services provider’s stock valued at $1,741,000 after buying an additional 36,312 shares during the period. Institutional investors and hedge funds own 65.64% of the company’s stock.

About Paramount Group

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.