Paramount Group, Inc. (NYSE:PGRE) Short Interest Update

Paramount Group, Inc. (NYSE:PGRE) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 3,150,000 shares, a decrease of 23.4% from the October 15th total of 4,110,000 shares. Based on an average daily trading volume, of 832,100 shares, the days-to-cover ratio is presently 3.8 days. Approximately 1.8% of the company’s stock are sold short.

Institutional Investors Weigh In On Paramount Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in PGRE. Van ECK Associates Corp lifted its position in shares of Paramount Group by 7.0% during the 2nd quarter. Van ECK Associates Corp now owns 33,719 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 2,202 shares during the last quarter. ProShare Advisors LLC increased its position in Paramount Group by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 33,259 shares of the financial services provider’s stock worth $156,000 after buying an additional 2,617 shares during the period. Bank of Montreal Can lifted its holdings in shares of Paramount Group by 2.5% during the second quarter. Bank of Montreal Can now owns 116,636 shares of the financial services provider’s stock worth $540,000 after buying an additional 2,811 shares during the last quarter. Quadrature Capital Ltd boosted its position in shares of Paramount Group by 19.4% in the third quarter. Quadrature Capital Ltd now owns 17,642 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 2,864 shares during the period. Finally, abrdn plc boosted its position in shares of Paramount Group by 10.5% in the third quarter. abrdn plc now owns 36,830 shares of the financial services provider’s stock valued at $181,000 after acquiring an additional 3,514 shares during the period. 65.64% of the stock is currently owned by institutional investors and hedge funds.

Paramount Group Stock Down 4.2 %

Shares of Paramount Group stock traded down $0.21 during midday trading on Friday, reaching $4.82. 1,217,454 shares of the company’s stock traded hands, compared to its average volume of 940,140. Paramount Group has a 52 week low of $4.21 and a 52 week high of $5.92. The company’s 50 day simple moving average is $5.03 and its 200 day simple moving average is $4.88. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -4.92 and a beta of 1.25. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.45 and a current ratio of 4.45.

Analyst Upgrades and Downgrades

Separately, Wells Fargo & Company upped their target price on Paramount Group from $3.50 to $4.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 11th.

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.