US Bancorp DE Buys 4,354 Shares of Paramount Group, Inc. (NYSE:PGRE)

US Bancorp DE raised its stake in Paramount Group, Inc. (NYSE:PGRE) by 176.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,820 shares of the financial services provider’s stock after buying an additional 4,354 shares during the quarter. US Bancorp DE’s holdings in Paramount Group were worth $69,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PGRE. Aew Capital Management L P lifted its position in shares of Paramount Group by 1,359.6% in the second quarter. Aew Capital Management L P now owns 4,343,800 shares of the financial services provider’s stock worth $43,742,000 after purchasing an additional 4,046,200 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Paramount Group by 538.8% in the first quarter. AQR Capital Management LLC now owns 1,937,349 shares of the financial services provider’s stock worth $19,625,000 after purchasing an additional 1,634,068 shares in the last quarter. Millennium Management LLC lifted its position in shares of Paramount Group by 149.2% in the first quarter. Millennium Management LLC now owns 2,409,242 shares of the financial services provider’s stock worth $24,406,000 after purchasing an additional 1,442,421 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Paramount Group by 53.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,150,058 shares of the financial services provider’s stock worth $31,910,000 after purchasing an additional 1,100,643 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC lifted its position in shares of Paramount Group by 171.1% in the first quarter. Weiss Multi Strategy Advisers LLC now owns 1,706,483 shares of the financial services provider’s stock worth $17,287,000 after purchasing an additional 1,077,096 shares in the last quarter. 55.14% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:PGRE opened at $8.53 on Tuesday. Paramount Group, Inc. has a one year low of $5.54 and a one year high of $11.65. The company has a market cap of $1.87 billion, a P/E ratio of -44.89 and a beta of 1.45. The firm’s fifty day moving average price is $9.19 and its two-hundred day moving average price is $10.02. The company has a debt-to-equity ratio of 0.85, a current ratio of 5.02 and a quick ratio of 5.02.

Paramount Group (NYSE:PGRE) last released its quarterly earnings data on Tuesday, July 27th. The financial services provider reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.27). Paramount Group had a negative net margin of 5.72% and a negative return on equity of 0.72%. The company had revenue of $182.27 million during the quarter, compared to analyst estimates of $178.74 million. During the same quarter in the prior year, the firm earned $0.23 earnings per share. Paramount Group’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities research analysts expect that Paramount Group, Inc. will post 0.87 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Thursday, September 30th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $0.28 annualized dividend and a dividend yield of 3.28%. Paramount Group’s dividend payout ratio (DPR) is presently 29.17%.

A number of brokerages have recently commented on PGRE. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Paramount Group from $11.00 to $12.00 and gave the stock a “hold” rating in a research report on Friday, June 25th. Evercore ISI lowered shares of Paramount Group from an “in-line” rating to an “underperform” rating and set a $11.00 price target on the stock. in a research report on Monday, June 14th. Wells Fargo & Company dropped their price target on shares of Paramount Group from $9.00 to $8.50 and set an “underweight” rating on the stock in a research report on Friday, September 10th. Zacks Investment Research lowered shares of Paramount Group from a “buy” rating to a “hold” rating in a research report on Tuesday, June 22nd. Finally, Mizuho reaffirmed a “neutral” rating and set a $11.00 price target on shares of Paramount Group in a research report on Wednesday, July 14th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Paramount Group presently has an average rating of “Hold” and a consensus price target of $10.39.

Paramount Group Company Profile

Paramount Group, Inc is a real estate investment and management company. It owns, operates, manages, acquires and redevelops office properties in central business district submarkets of New York, District of Columbia and San Francisco. The company operates through the following geographical segments: New York, San Francisco and Washington.

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Institutional Ownership by Quarter for Paramount Group (NYSE:PGRE)

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