Paramount Group (NYSE:PGRE) Price Target Lowered to $4.00 at Morgan Stanley

Paramount Group (NYSE:PGRE) had its price objective cut by Morgan Stanley from $4.25 to $4.00 in a research note issued to investors on Tuesday, Marketbeat reports. They currently have an equal weight rating on the financial services provider’s stock.

Separately, Mizuho decreased their price objective on Paramount Group from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, February 25th.

Paramount Group Stock Performance

Shares of PGRE opened at $4.08 on Tuesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.45 and a current ratio of 4.45. The stock has a 50 day moving average price of $4.56 and a two-hundred day moving average price of $4.81. The firm has a market capitalization of $886.43 million, a P/E ratio of -4.16 and a beta of 1.22. Paramount Group has a 52 week low of $3.96 and a 52 week high of $5.47.

Paramount Group (NYSE:PGRE) last issued its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The firm had revenue of $186.27 million during the quarter, compared to analyst estimates of $180.41 million. Paramount Group had a negative return on equity of 5.26% and a negative net margin of 27.92%. Equities analysts forecast that Paramount Group will post 0.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paramount Group

Several institutional investors have recently modified their holdings of PGRE. Metis Global Partners LLC grew its holdings in shares of Paramount Group by 38.8% in the third quarter. Metis Global Partners LLC now owns 18,020 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 5,039 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Paramount Group by 782.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,825 shares of the financial services provider’s stock valued at $1,756,000 after purchasing an additional 316,399 shares during the last quarter. Intech Investment Management LLC purchased a new position in Paramount Group in the third quarter valued at approximately $175,000. Algert Global LLC lifted its stake in Paramount Group by 2.3% in the third quarter. Algert Global LLC now owns 327,690 shares of the financial services provider’s stock valued at $1,612,000 after purchasing an additional 7,437 shares during the last quarter. Finally, Swedbank AB lifted its stake in Paramount Group by 25.2% in the third quarter. Swedbank AB now owns 142,466 shares of the financial services provider’s stock valued at $701,000 after purchasing an additional 28,650 shares during the last quarter. 65.64% of the stock is 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.