Paramount Group Inc (PGRE) Receives Average Rating of “Hold” from Analysts
Shares of Paramount Group Inc (NYSE:PGRE) have received an average rating of “Hold” from the eight brokerages that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $16.33.
A number of equities analysts have commented on the company. Zacks Investment Research lowered Paramount Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 28th. TheStreet lowered Paramount Group from a “c” rating to a “d+” rating in a research note on Thursday, November 16th.
Institutional investors and hedge funds have recently modified their holdings of the company. Oppenheimer Asset Management Inc. increased its stake in shares of Paramount Group by 1.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,625 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 75 shares during the last quarter. Teton Advisors Inc. increased its stake in shares of Paramount Group by 37.7% in the 3rd quarter. Teton Advisors Inc. now owns 17,900 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 4,900 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Paramount Group by 6,222.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 20,423 shares of the financial services provider’s stock valued at $327,000 after purchasing an additional 20,100 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Paramount Group in the 3rd quarter valued at $333,000. Finally, BlueCrest Capital Management Ltd bought a new position in shares of Paramount Group in the 2nd quarter valued at $377,000. Institutional investors own 62.20% of the company’s stock.
Paramount Group (NYSE:PGRE) last posted its quarterly earnings data on Monday, November 6th. The financial services provider reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.01. Paramount Group had a return on equity of 1.76% and a net margin of 12.29%. The firm had revenue of $179.80 million for the quarter, compared to analyst estimates of $172.85 million. During the same quarter last year, the company earned $0.20 EPS. The company’s revenue was up 5.0% on a year-over-year basis. equities research analysts anticipate that Paramount Group will post 0.9 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, December 29th were paid a $0.095 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.38 annualized dividend and a dividend yield of 2.51%. Paramount Group’s payout ratio is 102.70%.
ILLEGAL ACTIVITY NOTICE: “Paramount Group Inc (PGRE) Receives Average Rating of “Hold” from Analysts” was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this story on another website, it was stolen and republished in violation of US and international trademark and copyright laws. The correct version of this story can be read at https://www.americanbankingnews.com/2018/01/15/paramount-group-inc-pgre-receives-average-rating-of-hold-from-analysts.html.
Paramount Group Company Profile
Paramount Group, Inc is a fully-integrated real estate investment trust (REIT) focused on owning, operating, managing, acquiring and redeveloping Class A office properties in select central business district submarkets of New York City, Washington, District of Columbia (DC) and San Francisco. The Company conducts its business through, and substantially all its interests in properties and investments are held by, Paramount Group Operating Partnership LP (the Operating Partnership).
Receive News & Ratings for Paramount Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paramount Group and related companies with MarketBeat.com's FREE daily email newsletter.