Paramount Group, Inc. (NYSE:PGRE) Given Average Rating of “Hold” by Analysts

Paramount Group, Inc. (NYSE:PGREGet Rating) has earned an average recommendation of “Hold” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $11.38.

A number of brokerages recently issued reports on PGRE. Morgan Stanley increased their price target on Paramount Group from $10.50 to $14.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 1st. StockNews.com began coverage on Paramount Group in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Mizuho increased their price target on Paramount Group from $10.50 to $11.00 in a research report on Friday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Paramount Group from $11.00 to $12.00 and gave the stock a “hold” rating in a research report on Thursday, April 14th.

Shares of NYSE PGRE opened at $7.35 on Friday. The firm has a market cap of $1.61 billion, a P/E ratio of -146.97 and a beta of 1.13. The company has a current ratio of 4.32, a quick ratio of 4.32 and a debt-to-equity ratio of 0.86. Paramount Group has a 1-year low of $7.15 and a 1-year high of $11.53. The business’s 50 day moving average is $8.93 and its 200-day moving average is $9.36.

Paramount Group (NYSE:PGREGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.21). Paramount Group had a negative return on equity of 0.30% and a negative net margin of 1.84%. During the same period last year, the company posted $0.23 EPS. Analysts forecast that Paramount Group will post 0.95 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be issued a $0.078 dividend. This represents a $0.31 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend is Wednesday, June 29th. This is an increase from Paramount Group’s previous quarterly dividend of $0.08. Paramount Group’s dividend payout ratio (DPR) is currently -619.88%.

Several hedge funds have recently modified their holdings of the business. First Trust Advisors LP raised its position in shares of Paramount Group by 8.3% in the 4th quarter. First Trust Advisors LP now owns 336,267 shares of the financial services provider’s stock worth $2,804,000 after acquiring an additional 25,720 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Paramount Group by 885.4% in the 4th quarter. Allianz Asset Management GmbH now owns 490,814 shares of the financial services provider’s stock worth $4,093,000 after purchasing an additional 441,003 shares during the period. M&T Bank Corp bought a new stake in shares of Paramount Group in the 4th quarter worth approximately $134,000. Alterna Wealth Management Inc. bought a new stake in shares of Paramount Group in the 4th quarter worth approximately $196,000. Finally, Van ECK Associates Corp raised its holdings in shares of Paramount Group by 66.9% in the 4th quarter. Van ECK Associates Corp now owns 14,531 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 5,826 shares during the period. 64.34% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Group Company Profile (Get Rating)

Headquartered in New York City, Paramount Group, Inc 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 City 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.

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