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.
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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