Paramount Group (NYSE:PGRE) Hits New 12-Month Low – Should You Sell?

Paramount Group, Inc. (NYSE:PGRE) shares hit a new 52-week low on Monday . The company traded as low as $4.14 and last traded at $4.20, with a volume of 540281 shares changing hands. The stock had previously closed at $4.28.

Wall Street Analyst Weigh In

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

Paramount Group Price Performance

The stock has a market cap of $908.18 million, a PE ratio of -4.26 and a beta of 1.22. The business has a fifty day moving average of $4.68 and a 200 day moving average of $4.86. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.45 and a quick ratio of 4.45.

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 during the quarter, compared to the consensus estimate of $180.41 million. Sell-side analysts anticipate that Paramount Group, Inc. will post 0.78 earnings per share for the current year.

Institutional Investors Weigh In On Paramount Group

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Paramount Group by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 26,922,796 shares of the financial services provider’s stock valued at $132,999,000 after buying an additional 477,940 shares during the period. Long Pond Capital LP lifted its stake in Paramount Group by 12.5% during the fourth quarter. Long Pond Capital LP now owns 10,053,335 shares of the financial services provider’s stock worth $49,663,000 after purchasing an additional 1,116,395 shares during the period. Legal & General Group Plc lifted its holdings in shares of Paramount Group by 2.9% during the fourth quarter. Legal & General Group Plc now owns 4,860,475 shares of the financial services provider’s stock valued at $24,011,000 after acquiring an additional 135,654 shares during the period. Geode Capital Management LLC boosted its position in Paramount Group by 7.9% in the third quarter. Geode Capital Management LLC now owns 4,695,561 shares of the financial services provider’s stock valued at $23,107,000 after buying an additional 345,450 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in Paramount Group by 11.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,895,573 shares of the financial services provider’s stock worth $14,304,000 after acquiring an additional 292,392 shares during the last quarter. Institutional investors and hedge funds own 65.64% of the company’s stock.

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.