Paramount Group, Inc. (NYSE:PGRE – Get Free Report) has earned a consensus recommendation of “Reduce” from the five research firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $4.70.
Separately, Wells Fargo & Company upped their price objective on Paramount Group from $3.50 to $4.00 and gave the stock an “underweight” rating in a research report on Wednesday.
Read Our Latest Research Report on PGRE
Paramount Group Trading Down 1.0 %
Paramount Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Friday, June 28th. Paramount Group’s dividend payout ratio (DPR) is currently -12.07%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in shares of Paramount Group by 7.0% during the 2nd quarter. Van ECK Associates Corp now owns 33,719 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 2,202 shares during the last quarter. ProShare Advisors LLC boosted its position in Paramount Group by 8.5% during the first quarter. ProShare Advisors LLC now owns 33,259 shares of the financial services provider’s stock worth $156,000 after acquiring an additional 2,617 shares during the last quarter. Bank of Montreal Can grew its stake in Paramount Group by 2.5% in the 2nd quarter. Bank of Montreal Can now owns 116,636 shares of the financial services provider’s stock worth $540,000 after acquiring an additional 2,811 shares during the period. Ballentine Partners LLC lifted 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 period. Finally, Arizona State Retirement System boosted its holdings in shares of Paramount Group by 8.6% during the second quarter. Arizona State Retirement System now owns 48,673 shares of the financial services provider’s stock worth $225,000 after purchasing an additional 3,873 shares during the last quarter. Institutional investors and hedge funds own 65.64% of the company’s stock.
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.
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