Crestline Management LP increased its stake in shares of Paramount Group Inc (NYSE:PGRE) by 20.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 629,294 shares of the financial services provider’s stock after purchasing an additional 107,500 shares during the quarter. Paramount Group makes up approximately 1.2% of Crestline Management LP’s holdings, making the stock its 4th largest holding. Crestline Management LP owned 0.27% of Paramount Group worth $7,904,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of PGRE. Bank of New York Mellon Corp lifted its stake in shares of Paramount Group by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 1,220,771 shares of the financial services provider’s stock worth $18,800,000 after buying an additional 12,005 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Paramount Group by 194.8% in the third quarter. Acadian Asset Management LLC now owns 40,601 shares of the financial services provider’s stock worth $613,000 after buying an additional 26,828 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of Paramount Group by 11.4% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 43,816 shares of the financial services provider’s stock worth $661,000 after buying an additional 4,490 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Paramount Group by 120.5% in the third quarter. SG Americas Securities LLC now owns 116,696 shares of the financial services provider’s stock worth $1,761,000 after buying an additional 63,767 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Paramount Group by 13.2% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 235,688 shares of the financial services provider’s stock worth $3,557,000 after buying an additional 27,460 shares in the last quarter. Hedge funds and other institutional investors own 60.61% of the company’s stock.
PGRE opened at $14.52 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 3.28 and a quick ratio of 3.28. Paramount Group Inc has a twelve month low of $12.18 and a twelve month high of $16.05. The company has a market cap of $3.37 billion, a PE ratio of 15.13, a P/E/G ratio of 4.10 and a beta of 0.87.
Paramount Group (NYSE:PGRE) last released its quarterly earnings data on Wednesday, February 13th. The financial services provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.21). Paramount Group had a net margin of 1.21% and a return on equity of 0.18%. The company had revenue of $190.68 million for the quarter, compared to analysts’ expectations of $186.53 million. During the same period in the previous year, the firm earned $0.22 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, research analysts predict that Paramount Group Inc will post 0.99 EPS for the current fiscal year.
Several research firms have recently weighed in on PGRE. Zacks Investment Research raised shares of Paramount Group from a “sell” rating to a “hold” rating in a report on Saturday, December 1st. Morgan Stanley raised shares of Paramount Group from an “underweight” rating to an “equal weight” rating and set a $14.46 price objective for the company in a report on Wednesday. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $17.15.
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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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