Paramount Group (NYSE:PGRE) Given Underweight Rating at Morgan Stanley

Paramount Group (NYSE:PGRE)‘s stock had its “underweight” rating reiterated by Morgan Stanley in a research note issued to investors on Tuesday. They currently have a $3.25 price objective on the financial services provider’s stock. Morgan Stanley’s price objective would indicate a potential downside of 21.78% from the stock’s previous close.

Separately, Mizuho reduced their price target on Paramount Group from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, February 25th.

Paramount Group Stock Down 2.0 %

Shares of NYSE:PGRE traded down $0.09 during midday trading on Tuesday, reaching $4.16. 154,988 shares of the company were exchanged, compared to its average volume of 1,112,530. The firm has a market cap of $910.88 million, a PE ratio of -4.24 and a beta of 1.10. Paramount Group has a fifty-two week low of $3.75 and a fifty-two week high of $5.47. The stock has a fifty day simple moving average of $4.34 and a two-hundred day simple moving average of $4.69. The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.91.

Paramount Group (NYSE:PGRE) last released its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. The firm had revenue of $186.27 million for the quarter, compared to the consensus estimate of $180.41 million. Paramount Group had a negative return on equity of 5.26% and a negative net margin of 27.92%. As a group, sell-side analysts forecast that Paramount Group will post 0.78 earnings per share for the current year.

Insider Transactions at Paramount Group

In related news, CEO Albert P. Behler bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The shares were acquired at an average price of $4.15 per share, for a total transaction of $41,500.00. Following the completion of the acquisition, the chief executive officer now owns 751,812 shares of the company’s stock, valued at approximately $3,120,019.80. The trade was a 1.35 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 13.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC boosted its holdings in shares of Paramount Group by 22.7% in the 4th quarter. Squarepoint Ops LLC now owns 48,089 shares of the financial services provider’s stock valued at $238,000 after buying an additional 8,899 shares during the last quarter. Two Sigma Advisers LP raised its position in Paramount Group by 103.3% during the fourth quarter. Two Sigma Advisers LP now owns 742,100 shares of the financial services provider’s stock worth $3,666,000 after acquiring an additional 377,100 shares in the last quarter. Two Sigma Investments LP lifted its stake in Paramount Group by 17.4% in the fourth quarter. Two Sigma Investments LP now owns 1,088,289 shares of the financial services provider’s stock valued at $5,376,000 after acquiring an additional 160,956 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Paramount Group by 104.8% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 14,621 shares of the financial services provider’s stock valued at $72,000 after acquiring an additional 7,481 shares during the period. Finally, ProShare Advisors LLC increased its stake in shares of Paramount Group by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 51,962 shares of the financial services provider’s stock worth $257,000 after purchasing an additional 17,097 shares during the last quarter. Institutional investors and hedge funds 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.