Paramount Group (NYSE:PGRE) Shares Gap Up – Here’s What Happened

Paramount Group, Inc. (NYSE:PGRE)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $4.11, but opened at $4.35. Paramount Group shares last traded at $4.22, with a volume of 113,542 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Mizuho decreased their price target on shares of Paramount Group from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Paramount Group currently has an average rating of “Hold” and a consensus price target of $4.63.

Paramount Group Stock Up 1.6 %

The company has a market cap of $908.18 million, a P/E ratio of -4.29 and a beta of 1.22. The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.91. The business’s 50 day moving average is $4.57 and its 200 day moving average is $4.82.

Paramount Group (NYSE:PGRE) last issued its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The company had revenue of $186.27 million during the quarter, compared to the consensus estimate of $180.41 million. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. As a group, equities analysts anticipate that Paramount Group, Inc. will post 0.78 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paramount Group

A number of large investors have recently bought and sold shares of the business. Quantinno Capital Management LP raised its stake in Paramount Group by 22.0% in the fourth quarter. Quantinno Capital Management LP now owns 15,771 shares of the financial services provider’s stock worth $78,000 after buying an additional 2,845 shares in the last quarter. Quadrature Capital Ltd grew its holdings in Paramount Group by 19.4% in the third quarter. Quadrature Capital Ltd now owns 17,642 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 2,864 shares during the last quarter. Metis Global Partners LLC grew its holdings in Paramount Group by 16.3% in the fourth quarter. Metis Global Partners LLC now owns 20,955 shares of the financial services provider’s stock worth $104,000 after purchasing an additional 2,935 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Paramount Group by 1.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 239,200 shares of the financial services provider’s stock worth $1,182,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Nebula Research & Development LLC grew its holdings in Paramount Group by 7.0% in the fourth quarter. Nebula Research & Development LLC now owns 54,852 shares of the financial services provider’s stock worth $271,000 after purchasing an additional 3,611 shares during the last quarter. Institutional investors own 65.64% of the company’s stock.

Paramount Group Company Profile

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. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.