Paramount Group, Inc. (NYSE:PGRE) Holdings Lifted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its holdings in shares of Paramount Group, Inc. (NYSE:PGREGet Rating) by 213.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 147,986 shares of the financial services provider’s stock after purchasing an additional 100,819 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Paramount Group were worth $1,070,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. New York State Common Retirement Fund grew its stake in Paramount Group by 4.5% in the first quarter. New York State Common Retirement Fund now owns 128,235 shares of the financial services provider’s stock valued at $1,399,000 after purchasing an additional 5,498 shares in the last quarter. Stephens Inc. AR purchased a new position in Paramount Group in the second quarter valued at about $73,000. Graham Capital Management L.P. grew its stake in Paramount Group by 77.1% in the first quarter. Graham Capital Management L.P. now owns 172,805 shares of the financial services provider’s stock valued at $1,885,000 after purchasing an additional 75,245 shares in the last quarter. M&T Bank Corp grew its stake in Paramount Group by 10.7% in the first quarter. M&T Bank Corp now owns 17,661 shares of the financial services provider’s stock valued at $193,000 after purchasing an additional 1,707 shares in the last quarter. Finally, Anson Funds Management LP purchased a new position in Paramount Group in the first quarter valued at about $2,182,000. Hedge funds and other institutional investors own 59.20% of the company’s stock.

Paramount Group Price Performance

NYSE PGRE opened at $6.26 on Thursday. Paramount Group, Inc. has a twelve month low of $5.78 and a twelve month high of $11.53. The company has a debt-to-equity ratio of 0.87, a quick ratio of 3.48 and a current ratio of 3.48. The stock has a market capitalization of $1.38 billion, a PE ratio of 313.16 and a beta of 1.16. The stock has a 50-day simple moving average of $6.43 and a 200 day simple moving average of $7.28.

Paramount Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were given a dividend of $0.078 per share. The ex-dividend date was Thursday, September 29th. This represents a $0.31 annualized dividend and a dividend yield of 4.98%. Paramount Group’s dividend payout ratio is presently 1,550.78%.

Analysts Set New Price Targets

PGRE has been the topic of a number of recent research reports. Evercore ISI downgraded Paramount Group from an “in-line” rating to an “underperform” rating and lowered their target price for the company from $8.00 to $6.50 in a research note on Monday. Morgan Stanley cut Paramount Group from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $8.00 to $6.50 in a research report on Wednesday. TheStreet cut Paramount Group from a “c” rating to a “d+” rating in a research report on Wednesday, July 27th. Wells Fargo & Company reduced their price target on Paramount Group from $6.00 to $5.00 and set an “underweight” rating for the company in a research report on Tuesday, October 18th. Finally, StockNews.com began coverage on Paramount Group in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.80.

Paramount Group Company Profile

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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.

See Also

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Institutional Ownership by Quarter for Paramount Group (NYSE:PGRE)

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