Brookfield Corp ON Reduces Stock Position in Paramount Group, Inc. (NYSE:PGRE)

Brookfield Corp ON lessened its holdings in Paramount Group, Inc. (NYSE:PGRE) by 80.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 901,404 shares of the financial services provider’s stock after selling 3,696,046 shares during the quarter. Brookfield Corp ON’s holdings in Paramount Group were worth $4,435,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Paramount Group by 782.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,825 shares of the financial services provider’s stock worth $1,756,000 after acquiring an additional 316,399 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Paramount Group by 5.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 129,471 shares of the financial services provider’s stock valued at $608,000 after buying an additional 6,583 shares during the period. Millennium Management LLC boosted its stake in shares of Paramount Group by 4,007.2% in the second quarter. Millennium Management LLC now owns 953,947 shares of the financial services provider’s stock worth $4,417,000 after buying an additional 930,721 shares during the last quarter. Long Pond Capital LP grew its holdings in Paramount Group by 131.4% during the second quarter. Long Pond Capital LP now owns 7,501,361 shares of the financial services provider’s stock worth $34,731,000 after acquiring an additional 4,259,635 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Paramount Group by 92.7% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 45,423 shares of the financial services provider’s stock valued at $223,000 after acquiring an additional 21,846 shares during the period. 65.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Paramount Group Stock Performance

NYSE PGRE opened at $4.81 on Friday. The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.91. Paramount Group, Inc. has a twelve month low of $4.21 and a twelve month high of $5.92. The stock has a 50-day moving average of $4.97 and a 200 day moving average of $4.88.

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.