Paramount Group, Inc. (NYSE:PGRE) Shares Bought by Rhumbline Advisers

Rhumbline Advisers grew its holdings in Paramount Group, Inc. (NYSE:PGRE) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 340,672 shares of the financial services provider’s stock after buying an additional 7,574 shares during the quarter. Rhumbline Advisers owned about 0.16% of Paramount Group worth $1,683,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Quadrature Capital Ltd raised its position in Paramount Group by 19.4% in the third 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. Van ECK Associates Corp grew its stake in shares of Paramount Group by 9.5% during the 3rd quarter. Van ECK Associates Corp now owns 36,906 shares of the financial services provider’s stock worth $190,000 after purchasing an additional 3,187 shares during the period. 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 purchasing an additional 3,514 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Paramount Group by 226.0% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,140 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 4,950 shares during the period. Finally, Metis Global Partners LLC boosted its holdings in Paramount Group by 38.8% during the third quarter. Metis Global Partners LLC now owns 18,020 shares of the financial services provider’s stock worth $89,000 after buying an additional 5,039 shares in the last quarter. 65.64% of the stock is owned by institutional investors and hedge funds.

Paramount Group Trading Down 1.0 %

Shares of PGRE stock opened at $4.33 on Wednesday. The stock has a market cap of $940.77 million, a P/E ratio of -4.41 and a beta of 1.22. 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 fifty-two week low of $4.19 and a fifty-two week high of $5.47. The business has a fifty day simple moving average of $4.71 and a 200-day simple moving average of $4.87.

Paramount Group (NYSE:PGRE) last posted its earnings results on Thursday, February 27th. The financial services provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. The firm had revenue of $186.27 million during the quarter, compared to the consensus estimate of $180.41 million. On average, analysts forecast that Paramount Group, Inc. will post 0.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Mizuho dropped their target price on shares of Paramount Group from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Paramount Group has a consensus rating of “Hold” and an average price target of $4.63.

About Paramount Group

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.