Paramount Group, Inc. $PGRE Shares Acquired by Quinn Opportunity Partners LLC

Quinn Opportunity Partners LLC lifted its position in shares of Paramount Group, Inc. (NYSE:PGRE) by 130.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 194,400 shares of the financial services provider’s stock after acquiring an additional 110,000 shares during the period. Quinn Opportunity Partners LLC owned 0.09% of Paramount Group worth $1,186,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in PGRE. Long Pond Capital LP lifted its stake in shares of Paramount Group by 16.8% in the 1st quarter. Long Pond Capital LP now owns 11,737,433 shares of the financial services provider’s stock worth $50,471,000 after acquiring an additional 1,684,098 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Paramount Group in the 1st quarter worth approximately $6,164,000. Nuveen LLC purchased a new position in shares of Paramount Group during the first quarter valued at $6,096,000. HBK Investments L P increased its holdings in shares of Paramount Group by 16.5% in the 1st quarter. HBK Investments L P now owns 2,791,774 shares of the financial services provider’s stock valued at $12,005,000 after purchasing an additional 395,152 shares during the period. Finally, GSA Capital Partners LLP grew its holdings in shares of Paramount Group by 102.8% during the 1st quarter. GSA Capital Partners LLP now owns 402,937 shares of the financial services provider’s stock valued at $1,733,000 after acquiring an additional 204,248 shares in the last quarter. Institutional investors and hedge funds own 65.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PGRE shares. Wells Fargo & Company raised Paramount Group from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $4.20 to $6.60 in a research note on Thursday, September 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Paramount Group in a research report on Wednesday, October 8th. Evercore ISI set a $6.60 target price on shares of Paramount Group and gave the company an “in-line” rating in a research note on Monday, September 22nd. Morgan Stanley set a $6.60 price target on shares of Paramount Group and gave the company an “equal weight” rating in a report on Wednesday, October 22nd. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Paramount Group in a research note on Wednesday, September 17th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $6.45.

Paramount Group Trading Up 0.1%

PGRE opened at $6.57 on Thursday. The firm has a 50 day simple moving average of $6.68 and a 200 day simple moving average of $6.30. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.91 and a quick ratio of 4.91. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -14.59 and a beta of 1.32. Paramount Group, Inc. has a fifty-two week low of $3.75 and a fifty-two week high of $7.85.

Paramount Group (NYSE:PGRE) last announced its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $172.96 million during the quarter, compared to analysts’ expectations of $167.65 million. Paramount Group had a negative return on equity of 2.39% and a negative net margin of 13.47%. On average, sell-side analysts anticipate that Paramount Group, Inc. will post 0.78 earnings per share 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.