Zacks Investment Research upgraded shares of Paramount Group (NYSE:PGRE) from a hold rating to a buy rating in a report published on Friday, Zacks.com reports. They currently have $14.00 price target on the financial services provider’s stock.

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 research firms have also recently commented on PGRE. ValuEngine raised Paramount Group from a sell rating to a hold rating in a report on Wednesday, October 9th. Morgan Stanley raised Paramount Group from an equal rating to a weight rating and set a $15.00 price target for the company in a report on Friday, October 11th.

Paramount Group stock opened at $12.98 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.11 and a current ratio of 1.11. Paramount Group has a 52 week low of $12.18 and a 52 week high of $15.11. The stock has a market capitalization of $3.00 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 3.29 and a beta of 0.77. The stock has a fifty day moving average of $13.09 and a 200-day moving average of $13.83.

Paramount Group (NYSE:PGRE) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.21). Paramount Group had a return on equity of 1.06% and a net margin of 6.77%. The business had revenue of $188.58 million for the quarter, compared to analyst estimates of $187.21 million. During the same period last year, the firm posted $0.24 EPS. Paramount Group’s quarterly revenue was down 1.5% on a year-over-year basis. On average, research analysts forecast that Paramount Group will post 0.95 earnings per share for the current year.

The firm also recently declared a — dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a dividend yield of 3%. Paramount Group’s dividend payout ratio (DPR) is currently 41.67%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Quantamental Technologies LLC increased its holdings in Paramount Group by 6.0% in the 2nd quarter. Quantamental Technologies LLC now owns 14,115 shares of the financial services provider’s stock worth $198,000 after purchasing an additional 799 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Paramount Group by 5.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 34,400 shares of the financial services provider’s stock worth $482,000 after purchasing an additional 1,800 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Paramount Group by 6.6% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 40,294 shares of the financial services provider’s stock worth $565,000 after purchasing an additional 2,509 shares in the last quarter. Exane Derivatives increased its holdings in Paramount Group by 18.6% in the 3rd quarter. Exane Derivatives now owns 16,339 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 2,561 shares in the last quarter. Finally, Pictet Asset Management Ltd. increased its holdings in Paramount Group by 8.2% in the 2nd quarter. Pictet Asset Management Ltd. now owns 36,800 shares of the financial services provider’s stock worth $516,000 after purchasing an additional 2,800 shares in the last quarter. 61.13% of the stock is owned by institutional investors and hedge funds.

Paramount Group Company Profile

Headquartered in New York City, Paramount Group, Inc 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 City, Washington, DC and San Francisco.

Read More: How are the companies in the S&P 500 selected?

Get a free copy of the Zacks research report on Paramount Group (PGRE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Paramount Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paramount Group and related companies with MarketBeat.com's FREE daily email newsletter.