Paramount Group (NYSE:PGRE) PT Lowered to $4.50

Paramount Group (NYSE:PGRE) had its price objective cut by Morgan Stanley from $4.70 to $4.50 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other research firms have also recently weighed in on PGRE. StockNews.com cut Paramount Group from a hold rating to a sell rating in a report on Monday, February 19th. 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 report on Monday, March 18th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and an average price target of $4.60.

Paramount Group Stock Up 2.0 %

Shares of NYSE:PGRE opened at $4.69 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 4.61 and a current ratio of 4.61. Paramount Group has a 1 year low of $4.06 and a 1 year high of $5.92. The stock has a market capitalization of $1.02 billion, a P/E ratio of -3.91, a PEG ratio of 0.25 and a beta of 1.22. The stock has a 50-day simple moving average of $4.66 and a 200-day simple moving average of $4.75.

Paramount Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be given a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Wednesday, March 27th. Paramount Group’s payout ratio is -11.67%.

Hedge Funds Weigh In On Paramount Group

A number of institutional investors have recently made changes to their positions in PGRE. Norges Bank acquired a new stake in shares of Paramount Group during the 4th quarter valued at approximately $109,167,000. Centersquare Investment Management LLC acquired a new stake in shares of Paramount Group during the 4th quarter valued at approximately $15,057,000. Bank of America Corp DE raised its position in shares of Paramount Group by 1,607.2% during the 1st quarter. Bank of America Corp DE now owns 2,103,046 shares of the financial services provider’s stock valued at $9,590,000 after acquiring an additional 1,979,857 shares in the last quarter. Rush Island Management LP acquired a new stake in shares of Paramount Group during the 3rd quarter valued at approximately $8,379,000. Finally, State Street Corp raised its position in shares of Paramount Group by 14.6% during the 1st quarter. State Street Corp now owns 9,398,448 shares of the financial services provider’s stock valued at $103,244,000 after acquiring an additional 1,195,131 shares in the last quarter. 65.64% of the stock is owned by institutional investors and hedge funds.

Paramount Group Company Profile

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.