Paramount Group (NYSE:PGRE) Shares Gap Up – What’s Next?

Paramount Group, Inc. (NYSE:PGRE)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $4.11, but opened at $4.35. Paramount Group shares last traded at $4.22, with a volume of 113,542 shares.

Analysts Set New Price Targets

Several research firms recently weighed in on PGRE. Mizuho lowered their target price on Paramount Group from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 25th. Morgan Stanley lowered their price objective on Paramount Group from $4.25 to $4.00 and set an “equal weight” rating on the stock in a research report on Tuesday.

Paramount Group Stock Performance

The company has a market cap of $903.83 million, a PE ratio of -4.24 and a beta of 1.22. The company has a current ratio of 4.45, a quick ratio of 4.45 and a debt-to-equity ratio of 0.91. The business’s 50 day moving average is $4.54 and its two-hundred day moving average is $4.81.

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

Institutional Investors Weigh In On Paramount Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC boosted its position in shares of Paramount Group by 806.3% during the fourth quarter. Sterling Capital Management LLC now owns 5,909 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 5,257 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Paramount Group by 226.0% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,140 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 4,950 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of Paramount Group in the third quarter worth about $37,000. Gotham Asset Management LLC purchased a new stake in shares of Paramount Group in the fourth quarter worth about $52,000. Finally, Commerce Bank bought a new position in Paramount Group during the fourth quarter valued at approximately $54,000. 65.64% of the stock is owned by hedge funds and other 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.