Brokerages Set Paramount Group Inc (PGRE) PT at $18.33
Paramount Group Inc (NASDAQ:PGRE) has earned an average recommendation of “Hold” from the five research firms that are covering the firm. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $18.50.
Several research analysts recently weighed in on the company. Zacks Investment Research lowered Paramount Group from a “buy” rating to a “hold” rating in a research report on Friday. TheStreet upgraded Paramount Group from a “sell” rating to a “hold” rating in a research report on Monday, November 7th. Mizuho lowered their price target on Paramount Group from $17.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, November 7th. BTIG Research began coverage on Paramount Group in a research report on Thursday, August 25th. They set a “neutral” rating for the company. Finally, Deutsche Bank AG raised 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 15.73 on Wednesday. The company’s 50-day moving average price is $15.81 and its 200 day moving average price is $16.58. The stock has a market capitalization of $3.48 billion and a P/E ratio of 827.89. Paramount Group has a 52 week low of $14.23 and a 52 week high of $18.56.
Paramount Group (NASDAQ:PGRE) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. The business earned $171.32 million during the quarter, compared to analysts’ expectations of $166.14 million. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.20 earnings per share. Equities research analysts expect that Paramount Group will post $0.86 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Friday, September 30th were paid a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend was Wednesday, September 28th.
Several hedge funds have recently made changes to their positions in PGRE. Profund Advisors LLC boosted its stake in shares of Paramount Group by 1.4% in the third quarter. Profund Advisors LLC now owns 10,195 shares of the company’s stock valued at $167,000 after buying an additional 139 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Paramount Group by 31.3% in the third quarter. Pacer Advisors Inc. now owns 21,300 shares of the company’s stock valued at $349,000 after buying an additional 5,078 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of Paramount Group during the third quarter valued at about $406,000. Bailard Inc. boosted its stake in shares of Paramount Group by 8.3% in the third quarter. Bailard Inc. now owns 26,000 shares of the company’s stock valued at $426,000 after buying an additional 2,000 shares during the last quarter. Finally, M&T Bank Corp boosted its stake in shares of Paramount Group by 21.7% in the third quarter. M&T Bank Corp now owns 27,391 shares of the company’s stock valued at $449,000 after buying an additional 4,882 shares during the last quarter.
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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