Paramount Group (NYSE:PGRE) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Paramount Group (NYSE:PGRE) from a sell rating to a hold rating in a report published on Friday morning.

Several other research analysts have also weighed in on the company. Morgan Stanley cut their target price on Paramount Group from $4.70 to $4.50 and set an equal weight rating on the stock in a research report on Thursday, March 28th. Evercore ISI raised Paramount Group from an underperform rating to an in-line rating and set a $5.00 target price on the stock in a research report on Monday, March 18th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Paramount Group presently has a consensus rating of Hold and an average target price of $4.60.

Paramount Group Stock Up 0.2 %

Shares of PGRE opened at $4.81 on Friday. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 0.90. The stock’s fifty day simple moving average is $4.60 and its 200 day simple moving average is $4.74. Paramount Group has a twelve month low of $4.06 and a twelve month high of $5.92.

Paramount Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.035 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.14 annualized dividend and a yield of 2.91%. Paramount Group’s dividend payout ratio is currently -12.07%.

Institutional Trading of Paramount Group

Large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Paramount Group during the fourth quarter valued at about $54,507,000. Centersquare Investment Management LLC acquired a new stake in shares of Paramount Group during the fourth quarter valued at about $15,057,000. Rush Island Management LP acquired a new stake in shares of Paramount Group during the third quarter valued at about $8,379,000. Jupiter Asset Management Ltd. grew its stake in shares of Paramount Group by 4.7% during the third quarter. Jupiter Asset Management Ltd. now owns 8,932,443 shares of the financial services provider’s stock valued at $41,268,000 after acquiring an additional 400,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Paramount Group by 5.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,603,603 shares of the financial services provider’s stock valued at $21,269,000 after acquiring an additional 250,210 shares in the last quarter. 65.64% of the stock is currently owned by institutional investors and hedge funds.

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.