Analysts Set Paramount Group, Inc. (NYSE:PGRE) Target Price at $6.45

Shares of Paramount Group, Inc. (NYSE:PGRE) have earned a consensus rating of “Hold” from the six research firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $6.45.

Several brokerages recently issued reports on PGRE. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Paramount Group in a report on Monday, December 15th. BTIG Research reaffirmed a “neutral” rating on shares of Paramount Group in a research note on Wednesday, September 17th. Morgan Stanley set a $6.60 price objective on shares of Paramount Group and gave the stock an “equal weight” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company upgraded shares of Paramount Group from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $4.20 to $6.60 in a report on Thursday, September 18th. Finally, Evercore ISI set a $6.60 target price on shares of Paramount Group and gave the stock an “in-line” rating in a research report on Monday, September 22nd.

Paramount Group Trading Up 0.2%

NYSE:PGRE opened at $6.60 on Friday. Paramount Group has a 1 year low of $3.75 and a 1 year high of $7.85. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.91 and a current ratio of 4.91. The stock has a fifty day moving average price of $6.57 and a two-hundred day moving average price of $6.58. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of -14.67 and a beta of 0.93.

Paramount Group (NYSE:PGRE) last posted its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. Paramount Group had a negative net margin of 13.47% and a negative return on equity of 2.39%. The business had revenue of $172.96 million for the quarter, compared to analysts’ expectations of $167.65 million. As a group, sell-side analysts anticipate that Paramount Group will post 0.78 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Paramount Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership increased its position in Paramount Group by 40.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 4,933,121 shares of the financial services provider’s stock worth $30,092,000 after buying an additional 1,419,763 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Paramount Group by 2.2% during the second quarter. Geode Capital Management LLC now owns 4,752,560 shares of the financial services provider’s stock valued at $28,994,000 after acquiring an additional 103,003 shares during the last quarter. JPMorgan Chase & Co. increased its position in Paramount Group by 265.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,391,256 shares of the financial services provider’s stock worth $28,719,000 after purchasing an additional 3,189,695 shares in the last quarter. Solel Partners LP raised its stake in Paramount Group by 17.3% in the 2nd quarter. Solel Partners LP now owns 4,202,729 shares of the financial services provider’s stock valued at $25,637,000 after purchasing an additional 618,474 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in Paramount Group by 25.4% in the 3rd quarter. Balyasny Asset Management L.P. now owns 3,901,212 shares of the financial services provider’s stock valued at $25,514,000 after purchasing an additional 789,626 shares in the last quarter. Hedge funds and other institutional investors own 65.64% of the company’s stock.

Paramount Group Company Profile

Paramount Group, Inc (NYSE: PGRE) is a publicly traded real estate investment trust focused on the ownership, management and development of Class A office properties in key U.S. urban markets. The company’s portfolio comprises premier office buildings strategically located in gateway cities, where it seeks to deliver high-quality workspace solutions and drive long-term value through active asset management, redevelopment initiatives and sustainable operating practices.

Tracing its origins to 1978, Paramount Group converted to a real estate investment trust in 1997 and subsequently completed its initial public offering.