Paramount Group (NYSE:PGRE) Reaches New 12-Month High – Time to Buy?

Shares of Paramount Group, Inc. (NYSE:PGRE) reached a new 52-week high during trading on Tuesday . The company traded as high as $6.10 and last traded at $6.07, with a volume of 878402 shares traded. The stock had previously closed at $5.82.

Wall Street Analyst Weigh In

PGRE has been the topic of several research analyst reports. Evercore ISI raised shares of Paramount Group from an “in-line” rating to an “outperform” rating and increased their price target for the company from $4.50 to $8.00 in a report on Tuesday, May 20th. Wells Fargo & Company dropped their price objective on Paramount Group from $5.00 to $4.50 and set an “underweight” rating for the company in a research report on Monday, May 19th. Mizuho lowered their target price 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. Morgan Stanley reaffirmed an “underweight” rating and set a $3.25 price target on shares of Paramount Group in a report on Tuesday, April 15th. Finally, Wall Street Zen cut Paramount Group from a “hold” rating to a “sell” rating in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $5.19.

Paramount Group Stock Up 4.7%

The company has a current ratio of 4.45, a quick ratio of 4.45 and a debt-to-equity ratio of 0.91. The stock’s fifty day simple moving average is $4.49 and its 200-day simple moving average is $4.62. The stock has a market capitalization of $1.34 billion, a PE ratio of -6.22 and a beta of 1.12.

Paramount Group (NYSE:PGRE) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. The company had revenue of $187.02 million during the quarter, compared to analysts’ expectations of $180.79 million. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. As a group, sell-side analysts forecast that Paramount Group, Inc. will post 0.78 EPS for the current fiscal year.

Insider Transactions at Paramount Group

In related news, CEO Albert P. Behler bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was bought at an average cost of $4.15 per share, with a total value of $41,500.00. Following the completion of the purchase, 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 acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 13.80% of the company’s stock.

Institutional Trading of Paramount Group

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Paramount Group by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 26,922,796 shares of the financial services provider’s stock valued at $132,999,000 after acquiring an additional 477,940 shares during the last quarter. Long Pond Capital LP increased its holdings in 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 buying an additional 1,684,098 shares during the period. Legal & General Group Plc raised its position in shares of Paramount Group by 2.9% in the 4th quarter. Legal & General Group Plc now owns 4,860,475 shares of the financial services provider’s stock worth $24,011,000 after acquiring an additional 135,654 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Paramount Group by 11.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,895,573 shares of the financial services provider’s stock valued at $14,304,000 after buying an additional 292,392 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Paramount Group by 40.1% during the 4th quarter. Northern Trust Corp now owns 2,891,068 shares of the financial services provider’s stock valued at $14,282,000 after buying an additional 827,187 shares during the last quarter. Institutional investors own 65.64% of the company’s stock.

Paramount Group Company Profile

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.