Alexander Otto Sells 16,487 Shares of Paramount Group Inc (NYSE:PGRE) Stock

Paramount Group Inc (NYSE:PGRE) major shareholder Alexander Otto sold 16,487 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $13.49, for a total value of $222,409.63. Following the completion of the transaction, the insider now owns 13,656,206 shares of the company’s stock, valued at approximately $184,222,218.94. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

PGRE stock opened at $13.41 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.88 and a current ratio of 2.88. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 3.68 and a beta of 0.77. Paramount Group Inc has a fifty-two week low of $12.18 and a fifty-two week high of $15.11. The stock has a fifty day moving average of $13.37 and a 200-day moving average of $13.65.

Paramount Group (NYSE:PGRE) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.21). The firm had revenue of $198.32 million for the quarter, compared to the consensus estimate of $190.88 million. Paramount Group had a return on equity of 0.44% and a net margin of 2.77%. The firm’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS. Equities analysts predict that Paramount Group Inc will post 0.97 EPS for the current year.

PGRE has been the subject of a number of recent analyst reports. Morgan Stanley upgraded Paramount Group from an “equal” rating to a “weight” rating and set a $15.00 price objective for the company in a research note on Friday, October 11th. Goldman Sachs Group initiated coverage on Paramount Group in a research note on Friday, November 8th. They set a “sell” rating and a $13.00 price target for the company. ValuEngine downgraded Paramount Group from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Finally, Zacks Investment Research downgraded Paramount Group from a “buy” rating to a “hold” rating in a research note on Thursday, November 28th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $14.33.

Hedge funds have recently bought and sold shares of the company. Manchester Capital Management LLC bought a new position in shares of Paramount Group during the 2nd quarter worth $71,000. Redpoint Investment Management Pty Ltd bought a new position in shares of Paramount Group during the 2nd quarter worth $142,000. Point72 Asset Management L.P. bought a new position in shares of Paramount Group during the 2nd quarter worth $143,000. Point72 Hong Kong Ltd bought a new position in shares of Paramount Group during the 2nd quarter worth $145,000. Finally, Barings LLC bought a new position in shares of Paramount Group during the 2nd quarter worth $149,000. Institutional investors own 62.90% 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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