Paramount Group, Inc. (NYSE:PGRE) Receives Consensus Rating of “Reduce” from Analysts

Paramount Group, Inc. (NYSE:PGRE) has received a consensus recommendation of “Reduce” from the five analysts that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $4.60.

A number of equities analysts have recently issued reports on PGRE shares. Morgan Stanley cut their price target on shares of Paramount Group from $4.70 to $4.50 and set an “equal weight” rating for the company in a report on Thursday, March 28th. Evercore ISI upgraded shares of Paramount Group from an “underperform” rating to an “in-line” rating and set a $5.00 target price for the company in a report on Monday, March 18th. Finally, StockNews.com downgraded shares of Paramount Group from a “hold” rating to a “sell” rating in a report on Monday, February 19th.

Institutional Investors Weigh In On Paramount Group

Several hedge funds have recently modified their holdings of the company. Ballentine Partners LLC boosted its stake in shares of Paramount Group by 17.7% during the 1st quarter. Ballentine Partners LLC now owns 25,217 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 3,789 shares during the last quarter. Quadrature Capital Ltd boosted its position in shares of Paramount Group by 202.6% in the fourth quarter. Quadrature Capital Ltd now owns 71,073 shares of the financial services provider’s stock worth $367,000 after acquiring an additional 47,586 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Paramount Group by 4.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 122,888 shares of the financial services provider’s stock worth $636,000 after acquiring an additional 4,827 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Paramount Group by 5.7% in the fourth quarter. Legal & General Group Plc now owns 4,172,093 shares of the financial services provider’s stock worth $21,570,000 after acquiring an additional 223,834 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Paramount Group by 108.7% in the fourth quarter. Barclays PLC now owns 428,214 shares of the financial services provider’s stock worth $2,215,000 after acquiring an additional 223,046 shares during the last quarter. 65.64% of the stock is owned by institutional investors and hedge funds.

Paramount Group Stock Performance

Shares of PGRE opened at $4.57 on Friday. The company has a 50-day simple moving average of $4.60 and a 200-day simple moving average of $4.72. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $992.11 million, a PE ratio of -3.80, a P/E/G ratio of 0.25 and a beta of 1.22. Paramount Group has a 52-week low of $4.06 and a 52-week high of $5.92.

Paramount Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.035 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.14 annualized dividend and a yield of 3.07%. Paramount Group’s dividend payout ratio (DPR) is currently -11.67%.

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.