Paramount Group (NYSE:PGRE) Reaches New 12-Month Low – What’s Next?

Paramount Group, Inc. (NYSE:PGRE) reached a new 52-week low on Monday . The stock traded as low as $3.97 and last traded at $4.00, with a volume of 1746056 shares. The stock had previously closed at $4.05.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Paramount Group from $4.25 to $4.00 and set an “equal weight” rating for the company in a report on Tuesday. Mizuho dropped their price objective on shares of Paramount Group from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, February 25th.

Paramount Group Trading Down 0.9 %

The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.91. The firm has a market cap of $886.43 million, a price-to-earnings ratio of -4.16 and a beta of 1.22. The business’s fifty day moving average is $4.56 and its two-hundred day moving average is $4.81.

Paramount Group (NYSE:PGRE) last issued its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. The business had revenue of $186.27 million during the quarter, compared to analyst estimates of $180.41 million. Equities analysts anticipate that Paramount Group, Inc. will post 0.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paramount Group

A number of hedge funds and other institutional investors have recently bought and sold shares of PGRE. Metis Global Partners LLC boosted its stake in Paramount Group by 38.8% in the third quarter. Metis Global Partners LLC now owns 18,020 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 5,039 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in 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 valued at $1,756,000 after acquiring an additional 316,399 shares during the last quarter. Intech Investment Management LLC bought a new position in Paramount Group in the third quarter valued at approximately $175,000. Algert Global LLC boosted its stake in Paramount Group by 2.3% in the third quarter. Algert Global LLC now owns 327,690 shares of the financial services provider’s stock valued at $1,612,000 after acquiring an additional 7,437 shares during the last quarter. Finally, Swedbank AB boosted its stake in Paramount Group by 25.2% in the third quarter. Swedbank AB now owns 142,466 shares of the financial services provider’s stock valued at $701,000 after acquiring an additional 28,650 shares during the last quarter. 65.64% of the stock is owned by institutional investors.

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.