Paramount Group, Inc. (NYSE:PGRE) Shares Sold by Presima Securities ULC

Presima Securities ULC lowered its position in Paramount Group, Inc. (NYSE:PGRE) by 53.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 594,495 shares of the financial services provider’s stock after selling 676,051 shares during the quarter. Paramount Group accounts for 0.6% of Presima Securities ULC’s investment portfolio, making the stock its 22nd biggest position. Presima Securities ULC’s holdings in Paramount Group were worth $2,925,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its position in shares of Paramount Group by 7.0% in the second quarter. Van ECK Associates Corp now owns 33,719 shares of the financial services provider’s stock worth $156,000 after acquiring an additional 2,202 shares in the last quarter. ProShare Advisors LLC boosted its position in Paramount Group by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 33,259 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 2,617 shares during the period. Bank of Montreal Can increased its holdings 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 valued at $540,000 after purchasing an additional 2,811 shares in the last quarter. Ballentine Partners LLC raised its position 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 purchasing an additional 3,789 shares during the period. Finally, Arizona State Retirement System lifted its stake 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 in the last quarter. Hedge funds and other institutional investors own 65.64% of the company’s stock.

Paramount Group Stock Down 0.2 %

Shares of NYSE PGRE opened at $5.21 on Thursday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.39 and a current ratio of 4.39. Paramount Group, Inc. has a 1 year low of $4.06 and a 1 year high of $5.92. The stock’s 50-day simple moving average is $4.93 and its 200-day simple moving average is $4.81. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -4.49 and a beta of 1.25.

Analysts Set New Price Targets

Separately, Wells Fargo & Company raised their target price on Paramount Group from $3.50 to $4.00 and gave the company an “underweight” rating in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $4.70.

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.