Brokerages Set Paramount Group, Inc. (NYSE:PGRE) Target Price at $4.60

Paramount Group, Inc. (NYSE:PGRE) has been assigned an average recommendation of “Reduce” from the five research firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $4.60.

A number of equities analysts have weighed in on PGRE shares. StockNews.com raised Paramount Group from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Morgan Stanley reduced their target price on shares of Paramount Group from $4.70 to $4.50 and set an “equal weight” rating for the company in a report on Thursday, March 28th.

Institutional Trading of Paramount Group

Several hedge funds have recently added to or reduced their stakes in PGRE. Manchester Capital Management LLC increased its position in Paramount Group by 785.9% during the 4th quarter. Manchester Capital Management LLC now owns 5,076 shares of the financial services provider’s stock worth $26,000 after buying an additional 4,503 shares during the period. Metis Global Partners LLC bought a new stake in Paramount Group in the 4th quarter valued at about $58,000. 1620 Investment Advisors Inc. acquired a new position in shares of Paramount Group during the 2nd quarter worth approximately $52,000. Great Lakes Advisors LLC bought a new position in shares of Paramount Group during the fourth quarter worth approximately $85,000. Finally, Ballentine Partners LLC acquired a new stake in Paramount Group during the fourth quarter worth approximately $111,000. 65.64% of the stock is owned by institutional investors and hedge funds.

Paramount Group Price Performance

Shares of NYSE PGRE opened at $5.13 on Friday. The company has a fifty day moving average price of $4.73 and a 200 day moving average price of $4.70. The firm has a market cap of $1.11 billion, a PE ratio of -4.42, a PEG ratio of 0.26 and a beta of 1.26. The company has a current ratio of 4.03, a quick ratio of 4.03 and a debt-to-equity ratio of 0.90. Paramount Group has a 1-year low of $4.06 and a 1-year high of $5.92.

Paramount Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a $0.035 dividend. This represents a $0.14 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend was Friday, June 28th. Paramount Group’s payout ratio is -12.07%.

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.