Paramount Group (NYSE:PGRE) Given New $6.00 Price Target at Mizuho

Paramount Group (NYSE:PGRE) had its price target boosted by stock analysts at Mizuho from $5.00 to $6.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Mizuho’s target price indicates a potential downside of 10.65% from the company’s current price.

A number of other research firms also recently issued reports on PGRE. Evercore ISI raised shares of Paramount Group from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $4.50 to $8.00 in a research note on Tuesday, May 20th. Morgan Stanley reissued an “underweight” rating and issued a $3.25 price target on shares of Paramount Group in a research note on Tuesday, April 15th. Wells Fargo & Company decreased their price target on shares of Paramount Group from $5.00 to $4.50 and set an “underweight” rating for the company in a research note on Monday, May 19th. Finally, Wall Street Zen downgraded shares of Paramount Group from a “hold” rating to a “sell” rating in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.44.

Paramount Group Stock Performance

PGRE stock traded up $0.12 during midday trading on Monday, reaching $6.72. 446,743 shares of the company’s stock traded hands, compared to its average volume of 1,582,984. The firm has a market capitalization of $1.47 billion, a PE ratio of -21.66 and a beta of 1.31. Paramount Group has a 52 week low of $3.75 and a 52 week high of $6.83. The company has a 50-day moving average price of $5.87 and a two-hundred day moving average price of $4.96. The company has a debt-to-equity ratio of 0.90, a quick ratio of 5.56 and a current ratio of 5.56.

Paramount Group (NYSE:PGRE) last announced its earnings results on Wednesday, April 30th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.17. Paramount Group had a negative net margin of 8.76% and a negative return on equity of 1.63%. The company had revenue of $187.02 million during the quarter, compared to analyst estimates of $180.79 million. As a group, equities analysts anticipate that Paramount Group will post 0.78 EPS for the current year.

Hedge Funds Weigh In On Paramount Group

A number of institutional investors and hedge funds have recently made changes to their positions in PGRE. Cohen & Steers Inc. bought a new position in shares of Paramount Group during the fourth quarter valued at approximately $9,231,000. Long Pond Capital LP increased its stake in shares of Paramount Group by 16.8% during the first quarter. Long Pond Capital LP now owns 11,737,433 shares of the financial services provider’s stock valued at $50,471,000 after purchasing an additional 1,684,098 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Paramount Group during the first quarter valued at approximately $6,164,000. Nuveen LLC bought a new position in shares of Paramount Group during the first quarter valued at approximately $6,096,000. Finally, Solel Partners LP bought a new stake in shares of Paramount Group during the fourth quarter valued at approximately $6,719,000. Institutional investors own 65.64% of the company’s stock.

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.