Paramount Group, Inc. (NYSE:PGRE) CEO Buys $41,500.00 in Stock

Paramount Group, Inc. (NYSE:PGRE) CEO Albert P. Behler purchased 10,000 shares of Paramount Group stock in a transaction on Friday, March 21st. The shares were acquired at an average cost of $4.15 per share, for a total transaction of $41,500.00. Following the purchase, the chief executive officer now owns 751,812 shares in the company, valued at approximately $3,120,019.80. This trade represents a 1.35 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Paramount Group Stock Up 0.4 %

Shares of PGRE opened at $4.28 on Friday. Paramount Group, Inc. has a fifty-two week low of $3.96 and a fifty-two week high of $5.47. The company’s fifty day moving average is $4.49 and its two-hundred day moving average is $4.78. The firm has a market cap of $929.93 million, a PE ratio of -4.36 and a beta of 1.22. 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 (NYSE:PGRE) last issued its 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 return on equity of 5.26% and a negative net margin of 27.92%. The firm had revenue of $186.27 million for the quarter, compared to analysts’ expectations of $180.41 million. Analysts forecast that Paramount Group, Inc. will post 0.78 earnings per share for the current year.

Institutional Trading of Paramount Group

A number of institutional investors have recently modified their holdings of PGRE. Connor Clark & Lunn Investment Management Ltd. raised its holdings 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 buying an additional 316,399 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Paramount Group in the third quarter worth $175,000. Algert Global LLC increased its position in shares of Paramount Group by 2.3% in the third quarter. Algert Global LLC now owns 327,690 shares of the financial services provider’s stock worth $1,612,000 after acquiring an additional 7,437 shares in the last quarter. Swedbank AB raised its stake in shares of Paramount Group by 25.2% in the 3rd 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 period. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Paramount Group by 14.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 59,856 shares of the financial services provider’s stock valued at $294,000 after acquiring an additional 7,600 shares in the last quarter. Hedge funds and other institutional investors own 65.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PGRE shares. Mizuho reduced 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 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 research note on Tuesday, March 18th.

Paramount Group Company Profile

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.