Paramount Group (NYSE:PGRE) Hits New 12-Month Low – Here’s What Happened

Paramount Group, Inc. (NYSE:PGRE) shares reached a new 52-week low during trading on Monday . The stock traded as low as $3.97 and last traded at $4.00, with a volume of 1746056 shares trading hands. The stock had previously closed at $4.05.

Wall Street Analysts Forecast Growth

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

Paramount Group Stock Performance

The company has a debt-to-equity ratio of 0.91, a current ratio of 4.45 and a quick ratio of 4.45. The company has a market capitalization of $879.90 million, a price-to-earnings ratio of -4.08 and a beta of 1.22. The company’s 50-day moving average price is $4.59 and its two-hundred day moving average price is $4.83.

Paramount Group (NYSE:PGRE) last issued its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The firm had revenue of $186.27 million during the quarter, compared to analysts’ expectations of $180.41 million. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. On average, equities research analysts anticipate that Paramount Group, Inc. will post 0.78 EPS for the current fiscal year.

Institutional Trading of Paramount Group

Hedge funds have recently added to or reduced their stakes in the stock. Cohen & Steers Inc. purchased a new position in Paramount Group during the fourth quarter valued at approximately $9,231,000. Solel Partners LP purchased a new position in Paramount Group in the 4th quarter worth approximately $6,719,000. Long Pond Capital LP grew its stake in Paramount Group by 12.5% in the 4th quarter. Long Pond Capital LP now owns 10,053,335 shares of the financial services provider’s stock worth $49,663,000 after buying an additional 1,116,395 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Paramount Group by 398.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,388,257 shares of the financial services provider’s stock worth $6,830,000 after buying an additional 1,109,485 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Paramount Group by 40.1% in the 4th quarter. Northern Trust Corp now owns 2,891,068 shares of the financial services provider’s stock worth $14,282,000 after buying an additional 827,187 shares in the last quarter. Institutional investors own 65.64% of the company’s stock.

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.