StockNews.com Begins Coverage on Paramount Group (NYSE:PGRE)

StockNews.com began coverage on shares of Paramount Group (NYSE:PGRE – Get Rating) in a research report released on Thursday. The brokerage issued a sell rating on the financial services provider’s stock.

Several other equities analysts have also commented on the company. Mizuho lowered their target price on Paramount Group from $8.00 to $7.00 and set a buy rating for the company in a report on Wednesday, January 4th. Evercore ISI lowered Paramount Group from an in-line rating to an underperform rating and decreased their price objective for the stock from $8.00 to $6.50 in a report on Monday, November 21st. Bank of America began coverage on Paramount Group in a report on Wednesday, March 1st. They issued a neutral rating and a $5.50 price objective for the company. Finally, Morgan Stanley decreased their price objective on Paramount Group from $6.50 to $5.25 and set an equal weight rating for the company in a report on Thursday, March 9th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Paramount Group has an average rating of Hold and an average target price of $6.04.

Paramount Group Trading Down 5.3 %

Shares of NYSE PGRE opened at $4.30 on Thursday. The stock’s 50 day moving average price is $5.71 and its two-hundred day moving average price is $6.13. Paramount Group has a 52-week low of $4.24 and a 52-week high of $11.16. The company has a debt-to-equity ratio of 0.87, a quick ratio of 3.85 and a current ratio of 3.85.

Paramount Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Friday, March 31st will be given a $0.078 dividend. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $0.31 dividend on an annualized basis and a yield of 7.26%. Paramount Group’s dividend payout ratio (DPR) is -193.74%.

Insiders Place Their Bets

In other news, CEO Albert P. Behler bought 30,000 shares of the business’s stock in a transaction on Thursday, March 9th. The stock was purchased at an average cost of $5.05 per share, for a total transaction of $151,500.00. Following the completion of the transaction, the chief executive officer now directly owns 391,812 shares of the company’s stock, valued at approximately $1,978,650.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Albert P. Behler acquired 20,000 shares of the business’s stock in a transaction dated Thursday, March 2nd. The stock was bought at an average price of $5.19 per share, for a total transaction of $103,800.00. Following the transaction, the chief executive officer now owns 311,812 shares of the company’s stock, valued at $1,618,304.28. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Albert P. Behler acquired 30,000 shares of the business’s stock in a transaction dated Thursday, March 9th. The shares were bought at an average price of $5.05 per share, with a total value of $151,500.00. Following the transaction, the chief executive officer now directly owns 391,812 shares in the company, valued at approximately $1,978,650.60. The disclosure for this purchase can be found here. Insiders bought 90,000 shares of company stock worth $467,500 over the last ninety days. Company insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Paramount Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Wipfli Financial Advisors LLC acquired a new stake in shares of Paramount Group during the 3rd quarter valued at $43,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Paramount Group in the second quarter valued at $52,000. Cipher Capital LP purchased a new stake in shares of Paramount Group in the fourth quarter valued at $63,000. Point72 Hong Kong Ltd lifted its holdings in shares of Paramount Group by 145.8% in the third quarter. Point72 Hong Kong Ltd now owns 10,969 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 6,506 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of Paramount Group by 13.9% in the third quarter. Royal Bank of Canada now owns 13,986 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 1,706 shares in the last quarter. Institutional investors and hedge funds own 59.17% of the company’s stock.

About Paramount Group

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Paramount Group, Inc is a real estate investment and management company, which engages in the ownership, operation, management, acquisition, and redevelopment of office properties in central business district submarkets. The company operates through the New York and San Francisco segments. The company was founded by Werner Otto in 1978 and is headquartered in New York, NY.