Pictet Asset Management SA Purchases 6,645 Shares of Paramount Group, Inc. (NYSE:PGRE)

Pictet Asset Management SA grew its position in shares of Paramount Group, Inc. (NYSE:PGREGet Rating) by 9.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,625 shares of the financial services provider’s stock after buying an additional 6,645 shares during the quarter. Pictet Asset Management SA’s holdings in Paramount Group were worth $532,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of PGRE. Xponance Inc. bought a new stake in shares of Paramount Group in the 2nd quarter worth approximately $73,000. Stephens Inc. AR bought a new stake in shares of Paramount Group in the 2nd quarter worth approximately $73,000. Vestmark Advisory Solutions Inc. bought a new stake in Paramount Group during the 2nd quarter valued at $73,000. Legacy Wealth Asset Management LLC bought a new stake in Paramount Group during the 2nd quarter valued at $76,000. Finally, WESPAC Advisors LLC bought a new stake in Paramount Group during the 2nd quarter valued at $80,000. Institutional investors own 59.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PGRE. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Paramount Group from $10.00 to $8.00 and set a “hold” rating on the stock in a report on Thursday, October 13th. TheStreet cut shares of Paramount Group from a “c” rating to a “d+” rating in a report on Wednesday, July 27th. Morgan Stanley cut shares of Paramount Group from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $8.00 to $6.50 in a report on Wednesday. Mizuho reduced their price target on shares of Paramount Group from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, October 19th. Finally, StockNews.com initiated coverage on shares of Paramount Group in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.80.

Paramount Group Stock Down 1.7 %

PGRE opened at $6.26 on Thursday. The company has a fifty day moving average price of $6.43 and a 200-day moving average price of $7.28. The firm has a market capitalization of $1.38 billion, a P/E ratio of 313.16 and a beta of 1.16. The company has a debt-to-equity ratio of 0.87, a current ratio of 3.48 and a quick ratio of 3.48. Paramount Group, Inc. has a one year low of $5.78 and a one year high of $11.53.

Paramount Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 14th. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.98%. Paramount Group’s dividend payout ratio (DPR) is currently 1,550.78%.

Paramount Group 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.

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

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