Traders sold shares of Paramount Group Inc (NYSE:PGRE) on strength during trading hours on Wednesday. $2.50 million flowed into the stock on the tick-up and $58.56 million flowed out of the stock on the tick-down, for a money net flow of $56.06 million out of the stock. Of all equities tracked, Paramount Group had the 33rd highest net out-flow for the day. Paramount Group traded up $0.04 for the day and closed at $14.14
Several equities research analysts recently commented on PGRE shares. Deutsche Bank raised their target price on Paramount Group from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, August 29th. ValuEngine cut Paramount Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 3rd. Finally, Zacks Investment Research raised Paramount Group from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $16.70.
The company has a market capitalization of $3.35 billion, a P/E ratio of 15.84, a P/E/G ratio of 5.10 and a beta of 0.68. The company has a debt-to-equity ratio of 0.71, a current ratio of 4.57 and a quick ratio of 4.57.
A number of institutional investors have recently made changes to their positions in PGRE. Bank of Montreal Can grew its stake in Paramount Group by 82.5% in the second quarter. Bank of Montreal Can now owns 1,349,806 shares of the financial services provider’s stock valued at $20,786,000 after acquiring an additional 610,342 shares during the period. Fox Run Management L.L.C. acquired a new stake in Paramount Group in the second quarter valued at approximately $306,000. Acadian Asset Management LLC acquired a new stake in Paramount Group in the second quarter valued at approximately $212,000. Presima Inc. grew its stake in Paramount Group by 17.7% in the second quarter. Presima Inc. now owns 4,306,600 shares of the financial services provider’s stock valued at $66,322,000 after acquiring an additional 648,300 shares during the period. Finally, Aperio Group LLC grew its stake in Paramount Group by 77.6% in the second quarter. Aperio Group LLC now owns 80,107 shares of the financial services provider’s stock valued at $1,234,000 after acquiring an additional 34,992 shares during the period. 65.76% of the stock is owned by hedge funds and other institutional investors.
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Paramount Group Company Profile (NYSE:PGRE)
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.
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