Morgan Stanley Lowers Paramount Group (NYSE:PGRE) Price Target to $4.00

Paramount Group (NYSE:PGRE) had its price target lowered by analysts at Morgan Stanley from $4.25 to $4.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s target price suggests a potential downside of 3.26% from the stock’s previous close.

Separately, Mizuho lowered their price target on shares of Paramount Group from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $4.50.

Paramount Group Stock Up 0.6 %

Shares of NYSE:PGRE traded up $0.03 during midday trading on Tuesday, reaching $4.14. The company had a trading volume of 352,302 shares, compared to its average volume of 968,110. 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 stock’s fifty day moving average price is $4.57 and its 200-day moving average price is $4.82. The stock has a market capitalization of $899.48 million, a P/E ratio of -4.22 and a beta of 1.22. Paramount Group has a one year low of $3.96 and a one year high of $5.47.

Paramount Group (NYSE:PGRE) last issued its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $180.41 million. Equities research analysts expect that Paramount Group will post 0.78 earnings per share for the current fiscal year.

Institutional Trading of Paramount Group

Several institutional investors and hedge funds have recently bought and sold shares of PGRE. Metis Global Partners LLC raised its holdings in Paramount Group by 38.8% during the 3rd quarter. Metis Global Partners LLC now owns 18,020 shares of the financial services provider’s stock worth $89,000 after buying an additional 5,039 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Paramount Group by 782.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,825 shares of the financial services provider’s stock worth $1,756,000 after buying an additional 316,399 shares during the period. Intech Investment Management LLC acquired a new position in shares of Paramount Group in the 3rd quarter valued at about $175,000. Algert Global LLC increased its holdings in shares of Paramount Group by 2.3% in the 3rd quarter. Algert Global LLC now owns 327,690 shares of the financial services provider’s stock valued at $1,612,000 after purchasing an additional 7,437 shares during the period. Finally, Swedbank AB increased its holdings in shares of Paramount Group by 25.2% in the 3rd quarter. Swedbank AB now owns 142,466 shares of the financial services provider’s stock valued at $701,000 after purchasing an additional 28,650 shares during the period. Institutional investors and hedge funds 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.