Paramount Group (NYSE:PGRE) Hits New 52-Week Low – Should You Sell?

Paramount Group, Inc. (NYSE:PGRE) shares hit a new 52-week low on Tuesday . The company traded as low as $4.22 and last traded at $4.30, with a volume of 65519 shares changing hands. The stock had previously closed at $4.37.

Analysts Set New Price Targets

Separately, Mizuho reduced their price objective on shares of Paramount Group from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.63.

Paramount Group Price Performance

The stock’s fifty day moving average price is $4.72 and its two-hundred day moving average price is $4.87. The firm has a market capitalization of $929.89 million, a price-to-earnings ratio of -4.35 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.

Paramount Group (NYSE:PGRE) last announced its quarterly earnings data 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 for the quarter, compared to analyst estimates of $180.41 million. Equities research analysts expect that Paramount Group, Inc. will post 0.78 EPS for the current year.

Institutional Investors Weigh In On Paramount Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sterling Capital Management LLC raised its stake in Paramount Group by 806.3% during the 4th 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in Paramount Group by 226.0% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,140 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 4,950 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Paramount Group during the 3rd quarter worth $37,000. Gotham Asset Management LLC acquired a new position in Paramount Group in the fourth quarter valued at $52,000. Finally, Commerce Bank acquired a new position in Paramount Group in the fourth quarter valued at $54,000. 65.64% of the stock is currently owned by institutional investors and hedge funds.

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.