Brokerages Set Paramount Group, Inc. (NYSE:PGRE) Target Price at $5.61

Paramount Group, Inc. (NYSE:PGRE) has been assigned a consensus recommendation of “Reduce” from the six research firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $5.6125.

A number of equities analysts have commented on PGRE shares. Mizuho lifted their price objective on shares of Paramount Group from $5.00 to $6.00 and gave the stock an “outperform” rating in a research report on Monday, July 14th. Wells Fargo & Company raised shares of Paramount Group from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $4.20 to $6.60 in a research report on Thursday, September 18th. BTIG Research reaffirmed a “neutral” rating on shares of Paramount Group in a research report on Wednesday, September 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Paramount Group in a research report on Wednesday, October 8th. Finally, Evercore ISI set a $6.60 price objective on shares of Paramount Group and gave the stock an “in-line” rating in a research report on Monday, September 22nd.

Paramount Group Price Performance

NYSE:PGRE opened at $6.53 on Friday. Paramount Group has a 1-year low of $3.75 and a 1-year high of $7.85. The company has a current ratio of 5.91, a quick ratio of 5.91 and a debt-to-equity ratio of 0.90. The firm has a fifty day simple moving average of $6.80 and a 200 day simple moving average of $5.99. The stock has a market capitalization of $1.44 billion, a PE ratio of -18.14 and a beta of 1.37.

Paramount Group (NYSE:PGRE) last released its earnings results on Wednesday, July 30th. The financial services provider reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.03. Paramount Group had a negative net margin of 10.49% and a negative return on equity of 1.92%. The business had revenue of $177.05 million during the quarter, compared to analysts’ expectations of $173.98 million. Paramount Group has set its FY 2025 guidance at 0.550-0.590 EPS. On average, research analysts expect that Paramount Group will post 0.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Paramount Group

A number of institutional investors have recently modified their holdings of PGRE. Rush Island Management LP bought a new stake in shares of Paramount Group in the second quarter valued at about $12,295,000. Long Pond Capital LP boosted its position in shares of Paramount Group by 16.8% in the first quarter. Long Pond Capital LP now owns 11,737,433 shares of the financial services provider’s stock valued at $50,471,000 after acquiring an additional 1,684,098 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Paramount Group in the first quarter valued at about $6,164,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Paramount Group by 40.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 4,933,121 shares of the financial services provider’s stock valued at $30,092,000 after acquiring an additional 1,419,763 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Paramount Group in the first quarter valued at about $6,096,000. Institutional investors own 65.64% of the company’s stock.

About Paramount Group

Paramount Group, Inc (“Paramount” or the “Company”) 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 and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.