Ballentine Partners LLC Grows Holdings in Paramount Group, Inc. (NYSE:PGRE)

Ballentine Partners LLC increased its position in shares of Paramount Group, Inc. (NYSE:PGRE) by 17.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,217 shares of the financial services provider’s stock after buying an additional 3,789 shares during the period. Ballentine Partners LLC’s holdings in Paramount Group were worth $118,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PGRE. Dark Forest Capital Management LP increased its position in shares of Paramount Group by 76.6% in the 3rd quarter. Dark Forest Capital Management LP now owns 90,776 shares of the financial services provider’s stock worth $419,000 after purchasing an additional 39,372 shares during the last quarter. Sherbrooke Park Advisers LLC bought a new stake in shares of Paramount Group in the 3rd quarter worth about $144,000. Caxton Associates LP increased its position in shares of Paramount Group by 10.0% in the 3rd quarter. Caxton Associates LP now owns 34,882 shares of the financial services provider’s stock worth $161,000 after purchasing an additional 3,163 shares during the last quarter. Rush Island Management LP bought a new stake in shares of Paramount Group during the 3rd quarter valued at about $8,379,000. Finally, Employees Retirement System of Texas acquired a new stake in Paramount Group during the third quarter worth about $1,155,000. Hedge funds and other institutional investors own 65.64% of the company’s stock.

Paramount Group Stock Performance

Shares of PGRE opened at $4.56 on Friday. The company’s fifty day moving average is $4.64 and its 200-day moving average is $4.75. Paramount Group, Inc. has a 12 month low of $4.06 and a 12 month high of $5.92. The firm has a market cap of $991.02 million, a price-to-earnings ratio of -3.93, a price-to-earnings-growth ratio of 0.23 and a beta of 1.23. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 0.90.

Paramount Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.035 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.14 dividend on an annualized basis and a yield of 3.07%. Paramount Group’s payout ratio is presently -12.07%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Paramount Group from $4.70 to $4.50 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th. Evercore ISI upgraded shares of Paramount Group from an “underperform” rating to an “in-line” rating and set a $5.00 price objective on the stock in a research note on Monday, March 18th. Finally, StockNews.com upgraded shares of Paramount Group from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.60.

Paramount Group 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.