Paramount Group Inc (PGRE) Upgraded to Buy by Zacks Investment Research
Paramount Group Inc (NASDAQ:PGRE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $18.00 target price on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 12.22% from the stock’s previous close.
According to Zacks, “Paramount Group, Inc. is a real estate investment trust focused on owning, operating and managing Class A office properties. It provides asset management, leasing, acquisitions, redevelopment and financing. The Company owns properties in New York City, Washington D.C. and San Francisco. Paramount Group, Inc. is based in the United States. “
A number of other analysts also recently commented on the company. BTIG Research began coverage on Paramount Group in a research note on Thursday, August 25th. They issued a “neutral” rating on the stock. Deutsche Bank AG increased their price target on Paramount Group from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Monday, July 18th.
Paramount Group (NASDAQ:PGRE) opened at 16.04 on Wednesday. Paramount Group has a one year low of $14.23 and a one year high of $18.56. The stock’s 50 day moving average price is $17.33 and its 200 day moving average price is $16.66. The company has a market capitalization of $3.52 billion and a P/E ratio of 534.67.
Paramount Group (NASDAQ:PGRE) last issued its earnings results on Thursday, August 4th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The company earned $172.30 million during the quarter, compared to analysts’ expectations of $159.90 million. During the same quarter in the previous year, the company earned $0.22 EPS. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. Equities analysts anticipate that Paramount Group will post $0.85 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.095 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.38 dividend on an annualized basis and a yield of 2.37%.
Paramount Group Company Profile
Paramount Group, Inc is a real estate investment trust (REIT) focused on owning, operating, managing, acquiring and redeveloping Class A office properties in select central business district submarkets of New York City, Washington, District of Columbia (DC) and San Francisco. The Company conducts its business primarily through Paramount Group Operating Partnership LP.
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