Paramount Group (NYSE:PGRE) Upgraded at ValuEngine

ValuEngine upgraded shares of Paramount Group (NYSE:PGRE) from a sell rating to a hold rating in a report released on Wednesday morning, ValuEngine reports.

Separately, Zacks Investment Research upgraded shares of Paramount Group from a hold rating to a buy rating and set a $15.00 target price for the company in a report on Friday, June 28th.

Shares of PGRE opened at $12.80 on Wednesday. The firm’s 50 day moving average is $13.15 and its 200-day moving average is $13.90. The stock has a market capitalization of $3.00 billion, a P/E ratio of 13.33, a P/E/G ratio of 3.35 and a beta of 0.77. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.11 and a quick ratio of 1.11. Paramount Group has a 12-month low of $12.18 and a 12-month high of $15.11.

Paramount Group (NYSE:PGRE) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $0.01 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.21). Paramount Group had a return on equity of 1.06% and a net margin of 6.77%. The firm had revenue of $188.58 million during the quarter, compared to analyst estimates of $187.21 million. During the same quarter in the previous year, the business earned $0.24 earnings per share. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, equities research analysts forecast that Paramount Group will post 0.93 EPS for the current fiscal year.

The company also recently announced a — dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.10 dividend. This represents a dividend yield of 3%. The ex-dividend date of this dividend is Friday, September 27th. Paramount Group’s payout ratio is 41.67%.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Manchester Capital Management LLC acquired a new stake in shares of Paramount Group during the second quarter worth approximately $71,000. Redpoint Investment Management Pty Ltd acquired a new stake in Paramount Group in the second quarter valued at approximately $142,000. Point72 Asset Management L.P. acquired a new stake in Paramount Group in the second quarter valued at approximately $143,000. Point72 Hong Kong Ltd acquired a new stake in Paramount Group in the second quarter valued at approximately $145,000. Finally, Barings LLC acquired a new stake in Paramount Group in the second quarter valued at approximately $149,000. Institutional investors own 61.16% 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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