Paramount Group, Inc. $PGRE Shares Acquired by Squarepoint Ops LLC

Squarepoint Ops LLC increased its stake in shares of Paramount Group, Inc. (NYSE:PGRE) by 235.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 217,391 shares of the financial services provider’s stock after buying an additional 152,663 shares during the quarter. Squarepoint Ops LLC’s holdings in Paramount Group were worth $1,326,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in shares of Paramount Group by 101.0% during the second quarter. Signaturefd LLC now owns 8,291 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 4,167 shares during the period. Truist Financial Corp bought a new stake in Paramount Group in the 2nd quarter valued at about $67,000. Ethic Inc. acquired a new position in Paramount Group during the 2nd quarter valued at about $76,000. Quantbot Technologies LP acquired a new position in Paramount Group during the 2nd quarter valued at about $86,000. Finally, Nissay Asset Management Corp Japan ADV grew its position in Paramount Group by 19.5% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 29,360 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 4,790 shares during the last quarter. 65.64% of the stock is currently owned by institutional investors.

Paramount Group Stock Performance

Shares of NYSE PGRE opened at $6.60 on Friday. Paramount Group, Inc. has a 1 year low of $3.75 and a 1 year high of $7.85. The firm has a market cap of $1.46 billion, a P/E ratio of -14.67 and a beta of 0.93. The stock has a fifty day moving average price of $6.56 and a two-hundred day moving average price of $6.57. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.91 and a current ratio of 4.91.

Paramount Group (NYSE:PGRE) last posted its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. Paramount Group had a negative return on equity of 2.39% and a negative net margin of 13.47%.The company had revenue of $172.96 million for the quarter, compared to the consensus estimate of $167.65 million. Research analysts forecast that Paramount Group, Inc. will post 0.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PGRE has been the topic of a number of recent analyst reports. Wells Fargo & Company raised Paramount Group from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $4.20 to $6.60 in a report on Thursday, September 18th. BTIG Research restated a “neutral” rating on shares of Paramount Group in a research report on Wednesday, September 17th. Evercore ISI set a $6.60 target price on Paramount Group and gave the company an “in-line” rating in a research note on Monday, September 22nd. Morgan Stanley set a $6.60 price target on Paramount Group and gave the stock an “equal weight” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Paramount Group in a research note on Monday, December 15th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.45.

About Paramount Group

Paramount Group, Inc (NYSE: PGRE) is a publicly traded real estate investment trust focused on the ownership, management and development of Class A office properties in key U.S. urban markets. The company’s portfolio comprises premier office buildings strategically located in gateway cities, where it seeks to deliver high-quality workspace solutions and drive long-term value through active asset management, redevelopment initiatives and sustainable operating practices.

Tracing its origins to 1978, Paramount Group converted to a real estate investment trust in 1997 and subsequently completed its initial public offering.