Cohen & Steers Inc. Takes $9.23 Million Position in Paramount Group, Inc. (NYSE:PGRE)

Cohen & Steers Inc. acquired a new stake in shares of Paramount Group, Inc. (NYSE:PGRE) in the fourth quarter, Holdings Channel reports. The firm acquired 1,868,631 shares of the financial services provider’s stock, valued at approximately $9,231,000.

Other large investors also recently added to or reduced their stakes in the company. Sterling Capital Management LLC lifted its stake in Paramount Group by 806.3% in the fourth quarter. Sterling Capital Management LLC now owns 5,909 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 5,257 shares during the period. Greenleaf Trust bought a new position in shares of Paramount Group during the fourth quarter valued at approximately $63,000. Quantinno Capital Management LP bought a new position in shares of Paramount Group during the third quarter valued at approximately $64,000. US Bancorp DE raised its stake in Paramount Group by 33.9% in the fourth quarter. US Bancorp DE now owns 14,656 shares of the financial services provider’s stock worth $72,000 after buying an additional 3,708 shares in the last quarter. Finally, Inspire Investing LLC purchased a new stake in Paramount Group during the fourth quarter worth $76,000. 65.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Paramount Group news, CEO Albert P. Behler bought 10,000 shares of the firm’s stock in a transaction dated Friday, March 21st. The shares were purchased at an average price of $4.15 per share, for a total transaction of $41,500.00. Following the transaction, the chief executive officer now directly owns 751,812 shares of the company’s stock, valued at approximately $3,120,019.80. This represents a 1.35 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 13.50% of the company’s stock.

Analyst Ratings Changes

PGRE has been the subject of a number of analyst reports. Morgan Stanley decreased their price objective on Paramount Group from $4.25 to $4.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 18th. Mizuho reduced their price objective on Paramount Group from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, February 25th.

Paramount Group Stock Performance

Shares of PGRE stock opened at $4.24 on Tuesday. Paramount Group, Inc. has a 52-week low of $3.75 and a 52-week high of $5.47. The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.91. The stock has a market cap of $929.51 million, a PE ratio of -4.33 and a beta of 1.10. The business has a 50-day simple moving average of $4.34 and a 200-day simple moving average of $4.69.

Paramount Group (NYSE:PGRE) last released its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. Paramount Group had a negative return on equity of 5.26% and a negative net margin of 27.92%. The business had revenue of $186.27 million for the quarter, compared to analyst estimates of $180.41 million. On average, equities analysts expect that Paramount Group, Inc. will post 0.78 EPS for the current year.

About Paramount Group

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. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.