Paramount Group (NYSE:PGRE) Sees Large Volume Increase

Shares of Paramount Group, Inc. (NYSE:PGRE) saw unusually-high trading volume on Tuesday . Approximately 3,550,908 shares traded hands during trading, an increase of 191% from the previous session’s volume of 1,219,378 shares.The stock last traded at $5.17 and had previously closed at $5.28.

Analyst Ratings Changes

Separately, StockNews.com upgraded Paramount Group from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $4.60.

Paramount Group Stock Down 1.9 %

The company has a debt-to-equity ratio of 0.90, a current ratio of 4.03 and a quick ratio of 4.03. The stock has a market capitalization of $1.13 billion, a P/E ratio of -4.47, a P/E/G ratio of 0.26 and a beta of 1.26. The firm has a 50-day simple moving average of $4.76 and a 200 day simple moving average of $4.71.

Paramount Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a $0.035 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.14 annualized dividend and a yield of 2.70%. Paramount Group’s dividend payout ratio is presently -12.07%.

Hedge Funds Weigh In On Paramount Group

Large investors have recently bought and sold shares of the company. Centersquare Investment Management LLC raised its position in Paramount Group by 4.1% in the first quarter. Centersquare Investment Management LLC now owns 3,031,919 shares of the financial services provider’s stock valued at $14,068,000 after purchasing an additional 119,590 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Paramount Group by 23.9% in the fourth quarter. Van ECK Associates Corp now owns 30,707 shares of the financial services provider’s stock valued at $159,000 after buying an additional 5,914 shares during the period. Norges Bank acquired a new stake in shares of Paramount Group in the fourth quarter valued at about $54,507,000. Ballentine Partners LLC acquired a new stake in shares of Paramount Group in the fourth quarter valued at about $111,000. Finally, Metis Global Partners LLC acquired a new stake in shares of Paramount Group in the fourth quarter valued at about $58,000. 65.64% of the stock is currently 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.