Paramount Group Inc (PGRE) Stake Increased by State Street Corp
State Street Corp raised its position in Paramount Group Inc (NASDAQ:PGRE) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,675,515 shares of the company’s stock after buying an additional 30,948 shares during the period. State Street Corp owned about 1.21% of Paramount Group worth $42,783,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Commerzbank Aktiengesellschaft FI raised its position in Paramount Group by 2.8% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 11,246 shares of the company’s stock worth $180,000 after buying an additional 311 shares during the last quarter. US Bancorp DE increased its stake in Paramount Group by 5.5% in the third quarter. US Bancorp DE now owns 33,271 shares of the company’s stock valued at $546,000 after buying an additional 1,731 shares during the period. Utah Retirement Systems increased its stake in Paramount Group by 5.5% in the third quarter. Utah Retirement Systems now owns 36,600 shares of the company’s stock valued at $600,000 after buying an additional 1,900 shares during the period. Bailard Inc. increased its stake in 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 period. Finally, BlackRock Advisors LLC increased its stake in Paramount Group by 3.3% in the third quarter. BlackRock Advisors LLC now owns 102,035 shares of the company’s stock valued at $1,672,000 after buying an additional 3,221 shares during the period.
Shares of Paramount Group Inc (NASDAQ:PGRE) opened at 16.43 on Tuesday. Paramount Group Inc has a 52-week low of $14.58 and a 52-week high of $18.28. The stock’s 50 day moving average price is $16.83 and its 200-day moving average price is $16.38. The company’s market capitalization is $3.79 billion.
Paramount Group (NASDAQ:PGRE) last released its earnings results on Wednesday, February 22nd. The company reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.02. The firm had revenue of $166.80 million for the quarter, compared to the consensus estimate of $171.95 million. During the same period in the previous year, the business earned $0.21 EPS. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, equities analysts expect that Paramount Group Inc will post $0.07 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 31st will be paid a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Wednesday, March 29th.
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A number of analysts have recently weighed in on the company. Deutsche Bank AG cut their target price on Paramount Group from $20.00 to $19.00 and set a “buy” rating for the company in a research report on Monday. TheStreet downgraded Paramount Group from a “c” rating to a “d+” rating in a research report on Tuesday, March 7th. Evercore ISI downgraded Paramount Group to a “buy” rating in a research report on Friday, March 3rd. Wells Fargo & Co upgraded Paramount Group from a “market perform” rating to an “outperform” rating in a research report on Tuesday, December 13th. Finally, Morgan Stanley downgraded Paramount Group from an “overweight” rating to an “equal weight” rating in a research report on Monday, December 12th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $17.38.
About Paramount Group
Paramount Group, Inc is a fully-integrated 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 through, and substantially all its interests in properties and investments are held by, Paramount Group Operating Partnership LP (the Operating Partnership).
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