ValuEngine Downgrades Paramount Group (PGRE) to Sell

Paramount Group (NYSE:PGRE) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

A number of other research analysts have also recently issued reports on the stock. Mizuho upgraded shares of Paramount Group from an “underperform” rating to a “neutral” rating in a research note on Monday, May 7th. Zacks Investment Research upgraded shares of Paramount Group from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Wednesday, April 25th. Finally, Goldman Sachs 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 research note on Tuesday, February 6th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $15.25.

Shares of Paramount Group traded down $0.06, reaching $14.41, during trading on Thursday, Marketbeat reports. The stock had a trading volume of 614,800 shares, compared to its average volume of 1,187,319. Paramount Group has a 52 week low of $14.47 and a 52 week high of $14.64. The stock has a market capitalization of $3.50 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 3.61 and a beta of 0.66.

Paramount Group (NYSE:PGRE) last posted its earnings results on Wednesday, May 2nd. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23. Paramount Group had a net margin of 12.07% and a return on equity of 1.74%. The company had revenue of $184.27 million during the quarter, compared to analysts’ expectations of $180.88 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. Paramount Group’s quarterly revenue was up 1.7% compared to the same quarter last year. analysts anticipate that Paramount Group will post 0.94 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of PGRE. Wells Fargo & Company MN raised its position in Paramount Group by 104.0% in the 3rd quarter. Wells Fargo & Company MN now owns 81,314 shares of the financial services provider’s stock worth $1,301,000 after purchasing an additional 41,456 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Paramount Group by 8.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,359,730 shares of the financial services provider’s stock worth $37,402,000 after purchasing an additional 183,491 shares during the last quarter. Fox Run Management L.L.C. bought a new position in Paramount Group in the 4th quarter worth approximately $286,000. Strs Ohio raised its position in Paramount Group by 7.3% in the 4th quarter. Strs Ohio now owns 267,931 shares of the financial services provider’s stock worth $4,246,000 after purchasing an additional 18,310 shares during the last quarter. Finally, Twin Capital Management Inc. raised its position in Paramount Group by 3.9% in the 4th quarter. Twin Capital Management Inc. now owns 214,790 shares of the financial services provider’s stock worth $3,404,000 after purchasing an additional 8,150 shares during the last quarter. Hedge funds and other institutional investors own 67.71% of the company’s stock.

Paramount Group Company Profile

Headquartered in New York City, Paramount Group, Inc 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 City, Washington, DC and San Francisco.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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