Heitman Real Estate Securities LLC raised its holdings in Paramount Group Inc (NYSE:PGRE) by 10.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 682,946 shares of the financial services provider’s stock after buying an additional 62,630 shares during the period. Heitman Real Estate Securities LLC owned about 0.28% of Paramount Group worth $10,825,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in PGRE. Cbre Clarion Securities LLC bought a new stake in Paramount Group in the fourth quarter worth about $63,771,000. BlackRock Inc. raised its position in Paramount Group by 6.1% in the fourth quarter. BlackRock Inc. now owns 14,882,909 shares of the financial services provider’s stock worth $235,895,000 after acquiring an additional 855,620 shares during the period. AXA raised its position in Paramount Group by 189.3% in the fourth quarter. AXA now owns 739,973 shares of the financial services provider’s stock worth $11,728,000 after acquiring an additional 484,191 shares during the period. Asset Management One Co. Ltd. raised its position in Paramount Group by 28,976.5% in 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 period. Finally, Trustees of Dartmouth College bought a new stake in Paramount Group in the fourth quarter worth about $6,638,000. 69.03% of the stock is currently owned by hedge funds and other institutional investors.
PGRE has been the topic of several research reports. Zacks Investment Research raised shares of Paramount Group from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Wednesday, November 15th. TheStreet lowered shares of Paramount Group from a “c” rating to a “d+” rating in a research report on Thursday, November 16th. Goldman Sachs Group raised shares of Paramount Group from a “sell” rating to a “neutral” rating and set a $16.00 price objective on the stock in a research report on Tuesday, February 6th. Finally, Mizuho reaffirmed a “sell” rating and issued a $14.00 price objective on shares of Paramount Group in a research report on Friday, February 23rd. Four analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $16.40.
Paramount Group (NYSE:PGRE) last posted its earnings results on Thursday, February 15th. The financial services provider reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The firm had revenue of $180.26 million during the quarter, compared to the consensus estimate of $179.69 million. Paramount Group had a net margin of 12.02% and a return on equity of 1.75%. The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the company earned $0.17 earnings per share. analysts expect that Paramount Group Inc will post 0.94 earnings per share for the current fiscal year.
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Paramount Group 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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