Renaissance Technologies LLC grew its stake in Paramount Group Inc (NYSE:PGRE) by 230.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 386,800 shares of the financial services provider’s stock after buying an additional 269,600 shares during the period. Renaissance Technologies LLC owned 0.16% of Paramount Group worth $5,957,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Paramount Group by 1.4% during the 2nd quarter. BlackRock Inc. now owns 15,349,289 shares of the financial services provider’s stock valued at $236,379,000 after purchasing an additional 215,466 shares in the last quarter. Presima Inc. boosted its position in shares of Paramount Group by 17.7% during the 2nd quarter. Presima Inc. now owns 4,306,600 shares of the financial services provider’s stock valued at $66,322,000 after purchasing an additional 648,300 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Paramount Group by 2.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,118,210 shares of the financial services provider’s stock valued at $48,020,000 after purchasing an additional 63,279 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Paramount Group by 9.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,775,946 shares of the financial services provider’s stock valued at $42,750,000 after purchasing an additional 229,377 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Paramount Group by 6.8% during the 1st quarter. Northern Trust Corp now owns 2,325,600 shares of the financial services provider’s stock valued at $33,117,000 after purchasing an additional 148,541 shares in the last quarter. 63.42% of the stock is owned by institutional investors.
PGRE has been the topic of several research analyst reports. Zacks Investment Research lowered Paramount Group from a “buy” rating to a “hold” rating in a research report on Friday, June 29th. ValuEngine upgraded Paramount Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 5th. Finally, Deutsche Bank upped their target price on Paramount Group from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, August 29th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Paramount Group presently has an average rating of “Hold” and an average price target of $16.70.
Shares of Paramount Group stock opened at $14.10 on Friday. Paramount Group Inc has a one year low of $13.70 and a one year high of $16.61. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.49 and a current ratio of 2.49. The stock has a market cap of $3.63 billion, a P/E ratio of 15.84, a price-to-earnings-growth ratio of 5.00 and a beta of 0.68.
Paramount Group (NYSE:PGRE) last announced its earnings results on Wednesday, August 1st. The financial services provider reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $191.40 million for the quarter, compared to analyst estimates of $186.41 million. Paramount Group had a negative return on equity of 1.01% and a negative net margin of 6.89%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.23 EPS. Equities research analysts expect that Paramount Group Inc will post 0.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.40 annualized dividend and a yield of 2.84%. Paramount Group’s payout ratio is currently 44.94%.
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.
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