Zacks Investment Research lowered shares of Paramount Group (NYSE:PGRE) from a hold rating to a sell rating in a report published on Wednesday.
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 analysts also recently issued research reports about the stock. TheStreet upgraded shares of Paramount Group from a d+ rating to a c- rating in a research report on Thursday, December 21st. Goldman Sachs Group upgraded shares of Paramount Group from a sell rating to a neutral rating and set a $16.00 price objective for the company in a research report on Tuesday, February 6th. Finally, Mizuho restated a sell rating and set a $14.00 price objective on shares of Paramount Group in a research report on Friday, February 23rd. Four equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $16.40.
Paramount Group (NYSE:PGRE) last released its quarterly earnings results on Thursday, February 15th. The financial services provider reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. Paramount Group had a net margin of 12.02% and a return on equity of 1.75%. The firm had revenue of $180.26 million during the quarter, compared to the consensus estimate of $179.69 million. During the same quarter in the prior year, the firm earned $0.17 EPS. Paramount Group’s revenue for the quarter was up 8.1% on a year-over-year basis. analysts expect that Paramount Group will post 0.94 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in the business. Xact Kapitalforvaltning AB purchased a new position in Paramount Group during the 4th quarter worth $230,000. Macquarie Group Ltd. raised its position in Paramount Group by 15.7% during the 4th quarter. Macquarie Group Ltd. now owns 54,500 shares of the financial services provider’s stock worth $5,956,000 after buying an additional 7,400 shares during the last quarter. Verition Fund Management LLC grew its stake in shares of Paramount Group by 148.5% during the 4th quarter. Verition Fund Management LLC now owns 55,759 shares of the financial services provider’s stock worth $884,000 after purchasing an additional 33,322 shares during the period. Millennium Management LLC grew its stake in shares of Paramount Group by 69.7% during the 4th quarter. Millennium Management LLC now owns 634,637 shares of the financial services provider’s stock worth $10,059,000 after purchasing an additional 260,682 shares during the period. Finally, California State Teachers Retirement System grew its stake in shares of Paramount Group by 4.4% during the 4th quarter. California State Teachers Retirement System now owns 346,087 shares of the financial services provider’s stock worth $5,485,000 after purchasing an additional 14,667 shares during the period. Institutional investors own 63.40% of the company’s stock.
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Paramount Group Company Profile
Paramount Group, Inc is a fully-integrated 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 through, and substantially all its interests in properties and investments are held by, Paramount Group Operating Partnership LP (the Operating Partnership).
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