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

Paramount Group, Inc. (NYSE:PGREGet Rating) has received an average recommendation of “Hold” from the six ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $8.75.

A number of brokerages have issued reports on PGRE. Wells Fargo & Company lowered their price objective on Paramount Group from $10.00 to $6.00 and set an “underweight” rating for the company in a research note on Friday, July 1st. Mizuho cut their price target on Paramount Group from $11.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, July 6th. TheStreet lowered Paramount Group from a “c” rating to a “d+” rating in a report on Wednesday, July 27th. Morgan Stanley lowered their price objective on Paramount Group from $14.00 to $10.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 19th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Paramount Group from $12.00 to $10.00 in a research report on Wednesday, July 20th.

Paramount Group Price Performance

PGRE opened at $7.01 on Wednesday. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 350.68 and a beta of 1.20. Paramount Group has a 1 year low of $6.76 and a 1 year high of $11.53. The stock’s 50 day simple moving average is $7.41 and its 200 day simple moving average is $8.88. The company has a debt-to-equity ratio of 0.86, a current ratio of 5.07 and a quick ratio of 5.07.

Paramount Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were paid a dividend of $0.078 per share. This is a boost from Paramount Group’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $0.31 dividend on an annualized basis and a dividend yield of 4.45%. Paramount Group’s dividend payout ratio is currently 1,550.78%.

Institutional Trading of Paramount Group

Hedge funds have recently bought and sold shares of the stock. Envestnet Asset Management Inc. grew its position in shares of Paramount Group by 249.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 67,654 shares of the financial services provider’s stock valued at $564,000 after acquiring an additional 48,279 shares during the period. ProShare Advisors LLC raised its position in shares of Paramount Group by 70.1% during the 4th quarter. ProShare Advisors LLC now owns 40,846 shares of the financial services provider’s stock valued at $341,000 after buying an additional 16,837 shares during the period. First Trust Advisors LP increased its holdings in 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 valued at $2,804,000 after purchasing an additional 25,720 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Paramount Group by 2.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 47,891 shares of the financial services provider’s stock valued at $399,000 after purchasing an additional 1,151 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in Paramount Group by 20.4% in the 4th quarter. Teacher Retirement System of Texas now owns 34,028 shares of the financial services provider’s stock valued at $284,000 after purchasing an additional 5,772 shares during the last quarter. Hedge funds and other institutional investors own 59.20% of the company’s stock.

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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