Paramount Group, Inc. (NYSE:PGRE) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in Paramount Group, Inc. (NYSE:PGRE) by 38.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,456,689 shares of the financial services provider’s stock after acquiring an additional 953,589 shares during the quarter. Geode Capital Management LLC owned approximately 1.58% of Paramount Group worth $34,808,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. US Bancorp DE lifted its stake in Paramount Group by 176.6% in the 2nd quarter. US Bancorp DE now owns 6,820 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 4,354 shares in the last quarter. Xponance Inc. acquired a new stake in shares of Paramount Group during the second quarter worth approximately $103,000. Quilter Plc purchased a new position in Paramount Group during the first quarter valued at approximately $133,000. Rafferty Asset Management LLC acquired a new position in Paramount Group in the 2nd quarter valued at approximately $141,000. Finally, Walleye Trading LLC purchased a new stake in Paramount Group in the 1st quarter worth approximately $144,000. Institutional investors and hedge funds own 55.14% of the company’s stock.

NYSE PGRE opened at $8.81 on Thursday. The company has a current ratio of 5.02, a quick ratio of 5.02 and a debt-to-equity ratio of 0.85. The company has a fifty day simple moving average of $8.96 and a 200 day simple moving average of $9.89. The company has a market cap of $1.93 billion, a P/E ratio of -46.37 and a beta of 1.38. Paramount Group, Inc. has a 1 year low of $5.54 and a 1 year high of $11.65.

Paramount Group (NYSE:PGRE) last posted its quarterly earnings data on Wednesday, October 27th. The financial services provider reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.22). The firm had revenue of $179.10 million for the quarter, compared to the consensus estimate of $183.68 million. Paramount Group had a negative return on equity of 0.72% and a negative net margin of 5.72%. Paramount Group’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 earnings per share. Equities research analysts forecast that Paramount Group, Inc. will post 0.88 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 15th. Stockholders of record on Thursday, September 30th were paid a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, September 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.18%. Paramount Group’s payout ratio is presently 29.17%.

PGRE has been the subject of a number of research analyst reports. Mizuho reiterated a “neutral” rating and issued a $11.00 target price on shares of Paramount Group in a research report on Wednesday, July 14th. Morgan Stanley lowered their target price on Paramount Group from $12.00 to $11.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 18th. Wells Fargo & Company cut their price objective on shares of Paramount Group from $9.00 to $8.50 and set an “underweight” rating on the stock in a research report on Friday, September 10th. Finally, Zacks Investment Research lowered shares of Paramount Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 14th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $10.58.

About Paramount Group

Paramount Group, Inc is a real estate investment and management company. It owns, operates, manages, acquires and redevelops office properties in central business district submarkets of New York, District of Columbia and San Francisco. The company operates through the following geographical segments: New York, San Francisco and Washington.

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Institutional Ownership by Quarter for Paramount Group (NYSE:PGRE)

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