Morgan Stanley Upgrades Paramount Group (PGRE) to Equal Weight

Paramount Group (NYSE:PGRE) was upgraded by research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The brokerage presently has a $14.46 target price on the financial services provider’s stock. Morgan Stanley’s target price indicates a potential downside of 0.89% from the stock’s previous close.

Separately, Zacks Investment Research upgraded shares of Paramount Group from a “sell” rating to a “hold” rating in a research report on Saturday, December 15th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $17.15.

Paramount Group stock opened at $14.59 on Wednesday. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $3.37 billion, a PE ratio of 15.20, a P/E/G ratio of 4.10 and a beta of 0.87. Paramount Group has a 12-month low of $12.18 and a 12-month high of $16.05.

Paramount Group (NYSE:PGRE) last posted its quarterly earnings data on Wednesday, February 13th. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.21). The company had revenue of $190.68 million during the quarter, compared to the consensus estimate of $186.53 million. Paramount Group had a net margin of 1.21% and a return on equity of 0.18%. The company’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business earned $0.22 earnings per share. As a group, sell-side analysts anticipate that Paramount Group will post 0.99 EPS for the current fiscal year.

Several large investors have recently modified their holdings of PGRE. Oppenheimer Asset Management Inc. acquired a new stake in Paramount Group in the 4th quarter worth $100,000. HRT Financial LLC acquired a new stake in Paramount Group in the 4th quarter worth $151,000. M&T Bank Corp acquired a new stake in Paramount Group in the 4th quarter worth $155,000. Stevens Capital Management LP acquired a new stake in Paramount Group in the 4th quarter worth $158,000. Finally, Cetera Advisors LLC acquired a new stake in Paramount Group in the 4th quarter worth $171,000. Institutional investors and hedge funds own 60.61% of the company’s stock.

About Paramount Group

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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