Zacks Investment Research upgraded shares of Paramount Group Inc (NASDAQ:PGRE) from a hold rating to a buy rating in a report released on Wednesday morning. Zacks Investment Research currently has $18.00 target price on the stock.
According to Zacks, “Paramount Group, Inc. is a real estate investment trust focused on owning, operating and managing Class A office properties. It provides asset management, leasing, acquisitions, redevelopment and financing. The Company owns properties in New York City, Washington D.C. and San Francisco. Paramount Group, Inc. is based in the United States. “
Other equities research analysts also recently issued reports about the stock. Deutsche Bank AG boosted their price target on shares of Paramount Group from $20.00 to $21.00 and gave the stock a buy rating in a research note on Monday, July 18th. BTIG Research initiated coverage on shares of Paramount Group in a research note on Thursday, August 25th. They set a neutral rating for the company.
Paramount Group (NASDAQ:PGRE) remained flat at $15.77 during trading on Wednesday. The company had a trading volume of 262,385 shares. The firm’s 50-day moving average is $17.28 and its 200-day moving average is $16.66. Paramount Group has a 12 month low of $14.23 and a 12 month high of $18.56. The firm has a market cap of $3.46 billion and a price-to-earnings ratio of 525.67.
Paramount Group (NASDAQ:PGRE) last announced its earnings results on Thursday, August 4th. The company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. The company earned $172.30 million during the quarter, compared to the consensus estimate of $159.90 million. During the same period in the prior year, the firm posted $0.22 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. Equities research analysts forecast that Paramount Group will post $0.85 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Wednesday, September 28th.
Paramount Group Company Profile
Paramount Group, Inc is a real estate investment trust (REIT) focused on owning, operating, managing, acquiring and redeveloping Class A office properties in select central business district submarkets of New York City, Washington, District of Columbia (DC) and San Francisco. The Company conducts its business primarily through Paramount Group Operating Partnership LP.
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