Shares of Paramount Group Inc (NYSE:PGRE) have been given an average rating of “Hold” by the eight brokerages that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $16.25.
A number of brokerages have commented on PGRE. TheStreet upgraded shares of Paramount Group from a “d+” rating to a “c-” rating in a report on Thursday, December 21st. Goldman Sachs Group upgraded shares of Paramount Group from a “sell” rating to a “neutral” rating and set a $16.00 target price for the company in a report on Tuesday. Finally, Zacks Investment Research downgraded shares of Paramount Group from a “buy” rating to a “hold” rating in a report on Tuesday, November 28th.
Several hedge funds have recently modified their holdings of PGRE. Northern Trust Corp grew its stake in shares of Paramount Group by 31.3% during the second quarter. Northern Trust Corp now owns 1,894,274 shares of the financial services provider’s stock worth $30,309,000 after acquiring an additional 451,599 shares during the last quarter. Asset Management One Co. Ltd. grew its stake in shares of Paramount Group by 28,976.5% during the third quarter. Asset Management One Co. Ltd. now owns 431,204 shares of the financial services provider’s stock worth $6,868,000 after acquiring an additional 429,721 shares during the last quarter. Trustees of Dartmouth College purchased a new stake in shares of Paramount Group during the fourth quarter worth about $6,638,000. Long Pond Capital LP grew its stake in shares of Paramount Group by 2.9% during the third quarter. Long Pond Capital LP now owns 14,606,205 shares of the financial services provider’s stock worth $233,699,000 after acquiring an additional 406,833 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Paramount Group by 15.2% during the third quarter. Schwab Charles Investment Management Inc. now owns 2,176,239 shares of the financial services provider’s stock worth $34,820,000 after acquiring an additional 287,309 shares during the last quarter. Institutional investors and hedge funds own 61.71% of the company’s stock.
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 dividend of $0.095 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 2.73%. Paramount Group’s payout ratio is 102.70%.
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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).
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