Zurcher Kantonalbank Zurich Cantonalbank Trims Stock Holdings in Paramount Group, Inc. (NYSE:PGRE)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Paramount Group, Inc. (NYSE:PGRE) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,107 shares of the financial services provider’s stock after selling 2,548 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Paramount Group were worth $409,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PGRE. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Paramount Group by 11.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 198,500 shares of the financial services provider’s stock worth $1,026,000 after acquiring an additional 20,120 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Paramount Group by 46.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 115,554 shares of the financial services provider’s stock valued at $597,000 after buying an additional 36,668 shares in the last quarter. Ballentine Partners LLC purchased a new position in shares of Paramount Group during the 4th quarter valued at $111,000. SG Americas Securities LLC boosted its holdings in Paramount Group by 36.7% in the 4th quarter. SG Americas Securities LLC now owns 114,723 shares of the financial services provider’s stock worth $593,000 after buying an additional 30,799 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in Paramount Group by 9.5% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 246,629 shares of the financial services provider’s stock worth $1,139,000 after buying an additional 21,305 shares in the last quarter. 65.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on PGRE shares. Evercore ISI upgraded Paramount Group from an “underperform” rating to an “in-line” rating and set a $5.00 price objective on the stock in a research report on Monday, March 18th. Morgan Stanley lowered their price target on Paramount Group from $4.70 to $4.50 and set an “equal weight” rating on the stock in a report on Thursday, March 28th. Finally, StockNews.com raised shares of Paramount Group from a “sell” rating to a “hold” rating in a report on Friday. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Paramount Group currently has a consensus rating of “Hold” and a consensus price target of $4.60.

Paramount Group Trading Up 0.2 %

Shares of PGRE stock opened at $4.81 on Friday. The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -4.15, a price-to-earnings-growth ratio of 0.24 and a beta of 1.20. Paramount Group, Inc. has a 12-month low of $4.06 and a 12-month high of $5.92. The stock’s 50-day moving average price is $4.60 and its 200-day moving average price is $4.74.

Paramount Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.035 dividend. This represents a $0.14 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date was Wednesday, March 27th. Paramount Group’s payout ratio is -12.07%.

Paramount Group 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.