Franklin Resources Inc. Makes New Investment in Paramount Group, Inc. (NYSE:PGRE)

Franklin Resources Inc. acquired a new position in shares of Paramount Group, Inc. (NYSE:PGRE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 127,397 shares of the financial services provider’s stock, valued at approximately $643,000. Franklin Resources Inc. owned 0.06% of Paramount Group as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. increased its stake in Paramount Group by 782.7% during 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 acquiring an additional 316,399 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Paramount Group by 398.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,388,257 shares of the financial services provider’s stock valued at $6,830,000 after purchasing an additional 1,109,485 shares during the period. Barclays PLC increased 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 during the period. Geode Capital Management LLC raised its stake in shares of Paramount Group by 7.9% in the third quarter. Geode Capital Management LLC now owns 4,695,561 shares of the financial services provider’s stock valued at $23,107,000 after purchasing an additional 345,450 shares in the last quarter. Finally, Millennium Management LLC lifted its position in Paramount Group by 4,007.2% in the second quarter. Millennium Management LLC now owns 953,947 shares of the financial services provider’s stock worth $4,417,000 after purchasing an additional 930,721 shares during the period. Institutional investors and hedge funds own 65.64% of the company’s stock.

Paramount Group Price Performance

Paramount Group stock opened at $4.82 on Tuesday. The business has a 50 day simple moving average of $4.92 and a 200 day simple moving average of $4.92. 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 company has a market capitalization of $1.05 billion, a PE ratio of -4.92 and a beta of 1.23. Paramount Group, Inc. has a one year low of $4.21 and a one year high of $5.47.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company increased their price objective 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.