Paramount Group, Inc. (NYSE:PGRE) Shares Sold by State Street Corp

State Street Corp cut its stake in Paramount Group, Inc. (NYSE:PGRE) by 3.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,182,781 shares of the financial services provider’s stock after selling 317,380 shares during the quarter. State Street Corp owned about 3.76% of Paramount Group worth $40,259,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp raised its position in Paramount Group by 7.0% in the second quarter. Van ECK Associates Corp now owns 33,719 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 2,202 shares during the period. Bank of Montreal Can increased its holdings in Paramount Group by 2.5% in the second quarter. Bank of Montreal Can now owns 116,636 shares of the financial services provider’s stock valued at $540,000 after buying an additional 2,811 shares during the last quarter. Quadrature Capital Ltd boosted its position in shares of Paramount Group by 19.4% during the 3rd quarter. Quadrature Capital Ltd now owns 17,642 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 2,864 shares in the last quarter. abrdn plc increased its holdings in shares of Paramount Group by 10.5% in the 3rd quarter. abrdn plc now owns 36,830 shares of the financial services provider’s stock valued at $181,000 after acquiring an additional 3,514 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of Paramount Group by 8.6% during the 2nd quarter. Arizona State Retirement System now owns 48,673 shares of the financial services provider’s stock worth $225,000 after acquiring an additional 3,873 shares in the last quarter. Institutional investors and hedge funds own 65.64% of the company’s stock.

Paramount Group Stock Up 3.7 %

Shares of NYSE PGRE opened at $4.81 on Friday. The business has a 50-day moving average price of $4.96 and a 200 day moving average price of $4.90. The stock has a market cap of $1.05 billion, a PE ratio of -4.91 and a beta of 1.23. The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.91. Paramount Group, Inc. has a 52-week low of $4.21 and a 52-week high of $5.47.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company increased their price target on shares of Paramount Group from $3.50 to $4.00 and gave the company an “underweight” rating in a research note on Wednesday, September 11th.

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. 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.