Paramount Group (NYSE:PGRE) Hits New 52-Week Low – Should You Sell?

Paramount Group, Inc. (NYSE:PGRE) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $4.22 and last traded at $4.30, with a volume of 65519 shares trading hands. The stock had previously closed at $4.37.

Analyst Upgrades and Downgrades

Separately, Mizuho reduced their price objective on shares of Paramount Group from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Paramount Group has an average rating of “Hold” and a consensus price target of $4.63.

Paramount Group Price Performance

The firm has a market cap of $929.89 million, a PE ratio of -4.35 and a beta of 1.22. The stock’s fifty day moving average price is $4.72 and its 200-day moving average price is $4.87. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.45 and a quick ratio of 4.45.

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

Hedge Funds Weigh In On Paramount Group

Hedge funds have recently made changes to their positions in the stock. Sterling Capital Management LLC boosted its position in Paramount Group by 806.3% in the 4th quarter. Sterling Capital Management LLC now owns 5,909 shares of the financial services provider’s stock valued at $29,000 after buying an additional 5,257 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its position in Paramount Group by 226.0% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,140 shares of the financial services provider’s stock valued at $35,000 after buying an additional 4,950 shares during the period. Point72 DIFC Ltd purchased a new position in Paramount Group in the 3rd quarter valued at approximately $37,000. Gotham Asset Management LLC purchased a new position in Paramount Group in the 4th quarter valued at approximately $52,000. Finally, Commerce Bank purchased a new position in Paramount Group in the 4th quarter valued at approximately $54,000. Hedge funds and other 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.