Paramount Group (NYSE:PGRE) Sets New 52-Week Low – Here’s Why

Paramount Group, Inc. (NYSE:PGRE)’s stock price reached a new 52-week low on Monday . The company traded as low as $4.14 and last traded at $4.20, with a volume of 540281 shares changing hands. The stock had previously closed at $4.28.

Analyst Ratings Changes

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

Paramount Group Stock Performance

The stock has a market capitalization of $882.08 million, a P/E ratio of -4.14 and a beta of 1.22. The company has a current ratio of 4.45, a quick ratio of 4.45 and a debt-to-equity ratio of 0.91. The company has a 50-day moving average price of $4.65 and a two-hundred day moving average price of $4.85.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC raised its holdings in shares of Paramount Group by 806.3% during the fourth quarter. Sterling Capital Management LLC now owns 5,909 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 5,257 shares during the period. Point72 Asia Singapore Pte. Ltd. increased its position in Paramount Group by 226.0% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,140 shares of the financial services provider’s stock valued at $35,000 after buying an additional 4,950 shares in the last quarter. Point72 DIFC Ltd acquired a new position in Paramount Group during the 3rd quarter worth approximately $37,000. Gotham Asset Management LLC bought a new position in Paramount Group in the fourth quarter worth approximately $52,000. Finally, Commerce Bank acquired a new stake in Paramount Group in the fourth quarter valued at approximately $54,000. 65.64% of the stock is owned by institutional investors.

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. 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.