Paramount Group Inc (PGRE) Upgraded at TheStreet

Paramount Group Inc (NASDAQ:PGRE) was upgraded by research analysts at TheStreet from a “d+” rating to a “c” rating in a research note issued on Thursday, May 11th.

Other equities research analysts have also issued research reports about the stock. Evercore ISI upgraded shares of Paramount Group from an “in-line” rating to an “outperform” rating in a research note on Monday, April 17th. Zacks Investment Research upgraded shares of Paramount Group from a “sell” rating to a “hold” rating in a research note on Wednesday, April 19th. Finally, Deutsche Bank AG dropped their price target on shares of Paramount Group from $20.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday, March 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $16.70.

Analyst Recommendations for Paramount Group (NASDAQ:PGRE)

Shares of Paramount Group (NASDAQ:PGRE) opened at 16.37 on Thursday. The firm has a 50-day moving average price of $15.93 and a 200-day moving average price of $16.38. The stock’s market cap is $3.79 billion. Paramount Group has a one year low of $14.58 and a one year high of $18.28.

Paramount Group (NASDAQ:PGRE) last announced its quarterly earnings results on Thursday, May 4th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02. The firm had revenue of $181.24 million during the quarter, compared to analyst estimates of $171.42 million. During the same quarter in the previous year, the business posted $0.23 EPS. Paramount Group’s revenue for the quarter was up 4.8% compared to the same quarter last year. Analysts anticipate that Paramount Group will post $0.04 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be issued a $0.095 dividend. This represents a $0.38 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Wednesday, June 28th.

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Several hedge funds and other institutional investors have recently bought and sold shares of PGRE. DekaBank Deutsche Girozentrale bought a new position in Paramount Group during the first quarter valued at about $118,000. Bank of Montreal Can boosted its position in Paramount Group by 18.2% in the first quarter. Bank of Montreal Can now owns 7,358 shares of the company’s stock valued at $120,000 after buying an additional 1,135 shares during the period. Oppenheimer Asset Management Inc. bought a new position in Paramount Group during the first quarter valued at about $122,000. Orinda Asset Management LLC bought a new position in Paramount Group during the first quarter valued at about $162,000. Finally, Commerzbank Aktiengesellschaft FI boosted its position in Paramount Group by 2.8% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 11,246 shares of the company’s stock valued at $180,000 after buying an additional 311 shares during the period.

About Paramount Group

Paramount Group, Inc is a fully-integrated real estate investment trust (REIT) focused on owning, operating, managing, acquiring and redeveloping Class A office properties in select central business district submarkets of New York City, Washington, District of Columbia (DC) and San Francisco. The Company conducts its business through, and substantially all its interests in properties and investments are held by, Paramount Group Operating Partnership LP (the Operating Partnership).

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