Citadel Advisors LLC Invests $862,000 in Paramount Group Inc (PGRE) Stock
Citadel Advisors LLC bought a new position in shares of Paramount Group Inc (NYSE:PGRE) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 53,874 shares of the financial services provider’s stock, valued at approximately $862,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado grew its holdings in shares of Paramount Group by 9.2% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 6,238 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 526 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in shares of Paramount Group by 1.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,625 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 75 shares during the period. Synovus Financial Corp acquired a new stake in shares of Paramount Group in the 2nd quarter worth approximately $256,000. GAM Holding AG grew its holdings in shares of Paramount Group by 37.7% in the 2nd quarter. GAM Holding AG now owns 16,813 shares of the financial services provider’s stock worth $269,000 after acquiring an additional 4,600 shares during the period. Finally, Teton Advisors Inc. grew its holdings in shares of Paramount Group by 37.7% in the 3rd quarter. Teton Advisors Inc. now owns 17,900 shares of the financial services provider’s stock worth $286,000 after acquiring an additional 4,900 shares during the period. Institutional investors own 62.65% of the company’s stock.
Shares of Paramount Group Inc (PGRE) opened at $15.74 on Friday. The firm has a market capitalization of $3,778.76, a P/E ratio of 18.52, a P/E/G ratio of 3.38 and a beta of 0.80. Paramount Group Inc has a fifty-two week low of $15.14 and a fifty-two week high of $17.58.
A number of research firms recently weighed in on PGRE. TheStreet cut Paramount Group from a “c” rating to a “d+” rating in a report on Thursday, November 16th. Zacks Investment Research upgraded Paramount Group from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Wednesday, August 16th. Four equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $16.40.
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Paramount Group Profile
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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