Paramount Group Inc (PGRE) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Paramount Group Inc (NASDAQ:PGRE) from a buy rating to a hold rating in a report issued on Saturday.

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. “

A number of other research analysts have also recently weighed in on PGRE. Deutsche Bank AG lifted their target price on Paramount Group from $20.00 to $21.00 and gave the company a buy rating in a report on Monday, July 18th. BTIG Research initiated coverage on Paramount Group in a report on Thursday, August 25th. They issued a neutral rating on the stock.

Shares of Paramount Group (NASDAQ:PGRE) opened at 15.80 on Friday. The stock has a market capitalization of $3.47 billion and a PE ratio of 526.67. The company’s 50 day moving average price is $16.89 and its 200 day moving average price is $16.65. Paramount Group has a 12 month low of $14.23 and a 12 month high of $18.56.

Paramount Group (NASDAQ:PGRE) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. The business earned $172.30 million during the quarter, compared to analysts’ expectations of $159.90 million. Paramount Group’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 EPS. Equities analysts anticipate that Paramount Group will post $0.85 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were paid a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was 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.

5 Day Chart for NASDAQ:PGRE

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