Paramount Group (NYSE:PGRE) Upgraded at Evercore ISI

Evercore ISI upgraded shares of Paramount Group (NYSE:PGRE) from an in-line rating to an outperform rating in a research report sent to investors on Tuesday, Marketbeat Ratings reports. Evercore ISI currently has $8.00 price target on the financial services provider’s stock, up from their previous price target of $4.50.

Several other brokerages have also recently weighed in on PGRE. Morgan Stanley reiterated an “underweight” rating and set a $3.25 price target on shares of Paramount Group in a research note on Tuesday, April 15th. Wall Street Zen downgraded Paramount Group from a “hold” rating to a “sell” rating in a research note on Wednesday, April 23rd. Wells Fargo & Company cut their price objective on Paramount Group from $5.00 to $4.50 and set an “underweight” rating for the company in a research note on Monday. Finally, Mizuho lowered their price target on shares of Paramount Group from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th. Three investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $5.19.

Paramount Group Price Performance

NYSE PGRE opened at $5.73 on Tuesday. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -5.85 and a beta of 1.12. Paramount Group has a 1-year low of $3.75 and a 1-year high of $5.78. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.45 and a quick ratio of 4.45. The business’s fifty day moving average price is $4.42 and its 200-day moving average price is $4.62.

Paramount Group (NYSE:PGRE) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $0.17 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.17. The company had revenue of $187.02 million for the quarter, compared to the consensus estimate of $180.79 million. Paramount Group had a negative return on equity of 5.26% and a negative net margin of 27.92%. On average, equities analysts predict that Paramount Group will post 0.78 earnings per share for the current year.

Insider Transactions at Paramount Group

In related news, CEO Albert P. Behler bought 10,000 shares of the stock in a transaction dated Friday, March 21st. The shares were purchased at an average price of $4.15 per share, with a total value of $41,500.00. Following the completion of the acquisition, the chief executive officer now owns 751,812 shares of the company’s stock, valued at $3,120,019.80. This represents a 1.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 13.80% of the company’s stock.

Institutional Trading of Paramount Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC grew its position in shares of Paramount Group by 95.5% during the third quarter. Barclays PLC now owns 455,700 shares of the financial services provider’s stock valued at $2,242,000 after purchasing an additional 222,656 shares in the last quarter. Franklin Resources Inc. purchased a new position in shares of Paramount Group in the third quarter valued at $643,000. SG Americas Securities LLC increased its position in Paramount Group by 206.3% in the fourth quarter. SG Americas Securities LLC now owns 84,790 shares of the financial services provider’s stock worth $419,000 after purchasing an additional 57,105 shares during the last quarter. Inspire Investing LLC purchased a new stake in Paramount Group during the fourth quarter valued at $76,000. Finally, Swedbank AB grew its stake in shares of Paramount Group by 23.0% in the 4th quarter. Swedbank AB now owns 175,182 shares of the financial services provider’s stock worth $865,000 after buying an additional 32,716 shares in the last quarter. 65.64% of the stock is currently owned by institutional investors.

Paramount Group Company 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. 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.