Paramount Group (NYSE:PGRE) Reaches New 12-Month Low – Here’s Why

Paramount Group, Inc. (NYSE:PGRE) shares hit a new 52-week low on Friday . The company traded as low as $3.91 and last traded at $4.01, with a volume of 122640 shares changing hands. The stock had previously closed at $4.12.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PGRE shares. Morgan Stanley reduced their price target on Paramount Group from $4.25 to $4.00 and set an “equal weight” rating for the company in a report on Tuesday, March 18th. 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 note on Tuesday, February 25th.

Paramount Group Stock Performance

The company has a debt-to-equity ratio of 0.91, a current ratio of 4.45 and a quick ratio of 4.45. The company has a market capitalization of $862.50 million, a PE ratio of -4.05 and a beta of 1.22. The stock has a 50-day simple moving average of $4.46 and a 200 day simple moving average of $4.76.

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

Insider Activity

In related news, CEO Albert P. Behler acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were acquired at an average price of $4.15 per share, with a total value of $41,500.00. Following the completion of the purchase, the chief executive officer now directly owns 751,812 shares in the company, valued at approximately $3,120,019.80. The trade was a 1.35 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 13.50% of the company’s stock.

Institutional Investors Weigh In On Paramount Group

Several hedge funds have recently modified their holdings of PGRE. Sterling Capital Management LLC lifted its stake in shares of Paramount Group by 806.3% during the fourth 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. lifted its stake in shares of Paramount Group by 226.0% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,140 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 4,950 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of Paramount Group during the third quarter worth $37,000. Gotham Asset Management LLC purchased a new stake in shares of Paramount Group in the fourth quarter valued at $52,000. Finally, Commerce Bank acquired a new position in Paramount Group in the fourth quarter valued at $54,000. 65.64% of the stock is owned by institutional investors and hedge funds.

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.