Paramount Group (NYSE:PGRE) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of Paramount Group (NYSE:PGRE) from a sell rating to a hold rating in a report issued on Friday morning.

PGRE has been the topic of a number of other research reports. Morgan Stanley decreased their target price on shares of Paramount Group from $4.70 to $4.50 and set an equal weight rating on the stock in a research report on Thursday, March 28th. Evercore ISI raised Paramount Group from an underperform rating to an in-line rating and set a $5.00 price objective for the company in a research report on Monday, March 18th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Paramount Group has a consensus rating of Hold and a consensus target price of $4.60.

Paramount Group Stock Up 0.2 %

NYSE:PGRE traded up $0.01 during mid-day trading on Friday, hitting $4.81. 971,991 shares of the company’s stock traded hands, compared to its average volume of 948,841. The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.61 and a current ratio of 4.03. The firm’s 50 day simple moving average is $4.60 and its 200 day simple moving average is $4.74. Paramount Group has a 1 year low of $4.06 and a 1 year high of $5.92.

Paramount Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.035 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.14 annualized dividend and a dividend yield of 2.91%. Paramount Group’s payout ratio is currently -12.07%.

Hedge Funds Weigh In On Paramount Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Paramount Group during the fourth quarter worth $54,507,000. Jupiter Asset Management Ltd. lifted its holdings in Paramount Group by 4.7% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 8,932,443 shares of the financial services provider’s stock worth $41,268,000 after buying an additional 400,000 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Paramount Group by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,756,225 shares of the financial services provider’s stock valued at $24,590,000 after buying an additional 152,622 shares during the last quarter. Centersquare Investment Management LLC purchased a new position in Paramount Group in the 4th quarter valued at about $15,057,000. Finally, Rush Island Management LP acquired a new stake in shares of Paramount Group during the third quarter valued at about $8,379,000. Hedge funds and other 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.