abrdn plc Has $182,000 Holdings in Paramount Group, Inc. (NYSE:PGRE)

abrdn plc lessened its position in shares of Paramount Group, Inc. (NYSE:PGRE) by 7.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,253 shares of the financial services provider’s stock after selling 2,804 shares during the period. abrdn plc’s holdings in Paramount Group were worth $182,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PGRE. Daiwa Securities Group Inc. grew its holdings in shares of Paramount Group by 4.8% during the third quarter. Daiwa Securities Group Inc. now owns 52,856 shares of the financial services provider’s stock worth $244,000 after buying an additional 2,441 shares in the last quarter. Caxton Associates LP lifted its position in shares of Paramount Group by 10.0% in the third quarter. Caxton Associates LP now owns 34,882 shares of the financial services provider’s stock worth $161,000 after purchasing an additional 3,163 shares in the last quarter. Swiss National Bank boosted its holdings in Paramount Group by 1.0% during the third quarter. Swiss National Bank now owns 358,143 shares of the financial services provider’s stock worth $1,655,000 after purchasing an additional 3,500 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in Paramount Group by 4.3% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 93,182 shares of the financial services provider’s stock valued at $431,000 after purchasing an additional 3,863 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Paramount Group by 19.4% in the 3rd quarter. Van ECK Associates Corp now owns 24,793 shares of the financial services provider’s stock valued at $114,000 after buying an additional 4,026 shares during the last quarter. Institutional investors and hedge funds own 65.64% of the company’s stock.

Paramount Group Trading Down 2.2 %

Shares of NYSE:PGRE opened at $4.66 on Wednesday. Paramount Group, Inc. has a 52-week low of $4.06 and a 52-week high of $5.92. The company has a debt-to-equity ratio of 0.95, a quick ratio of 4.61 and a current ratio of 4.61. The company has a market capitalization of $1.01 billion, a P/E ratio of -3.88, a price-to-earnings-growth ratio of 0.25 and a beta of 1.22. The company has a 50-day simple moving average of $4.59 and a 200 day simple moving average of $4.74.

Paramount Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.035 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.14 annualized dividend and a yield of 3.01%. Paramount Group’s dividend payout ratio is -11.67%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on PGRE shares. Morgan Stanley decreased their price objective on Paramount Group from $4.70 to $4.50 and set an “equal weight” rating for the company in a report on Thursday, March 28th. Evercore ISI upgraded Paramount Group from an “underperform” rating to an “in-line” rating and set a $5.00 price target for the company in a research note on Monday, March 18th. Finally, StockNews.com cut Paramount Group from a “hold” rating to a “sell” rating in a research note on Monday, February 19th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $4.60.

About Paramount Group

Paramount Group, Inc ("Paramount" or the "Company") 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 and San Francisco.