Paramount Group, Inc. (NYSE:PGRE) Given Average Recommendation of “Reduce” by Brokerages

Shares of Paramount Group, Inc. (NYSE:PGRE) have been given an average recommendation of “Reduce” by the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $4.70.

Separately, Wells Fargo & Company upped their price target on Paramount Group from $3.50 to $4.00 and gave the company an “underweight” rating in a report on Wednesday, September 11th.

Institutional Investors Weigh In On Paramount Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. purchased a new stake in Paramount Group in the second quarter valued at approximately $52,000. Manchester Capital Management LLC lifted its stake in Paramount Group by 139.1% in the first quarter. Manchester Capital Management LLC now owns 12,137 shares of the financial services provider’s stock valued at $57,000 after buying an additional 7,061 shares during the last quarter. Marshall Wace LLP purchased a new stake in Paramount Group in the second quarter valued at approximately $74,000. Ballentine Partners LLC lifted its stake in Paramount Group by 17.7% in the first quarter. Ballentine Partners LLC now owns 25,217 shares of the financial services provider’s stock valued at $118,000 after buying an additional 3,789 shares during the last quarter. Finally, MQS Management LLC lifted its stake in Paramount Group by 98.7% in the first quarter. MQS Management LLC now owns 27,514 shares of the financial services provider’s stock valued at $129,000 after buying an additional 13,665 shares during the last quarter. Hedge funds and other institutional investors own 65.64% of the company’s stock.

Paramount Group Stock Performance

Shares of PGRE opened at $5.00 on Friday. The stock has a 50 day moving average price of $4.90 and a 200 day moving average price of $4.79. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -4.31 and a beta of 1.25. Paramount Group has a 52-week low of $4.06 and a 52-week high of $5.92.

About Paramount Group

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. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.