Paramount Group (NYSE:PGRE) Shares Gap Down – Time to Sell?

Paramount Group, Inc. (NYSE:PGRE)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $4.24, but opened at $4.03. Paramount Group shares last traded at $4.16, with a volume of 194,730 shares changing hands.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Morgan Stanley reaffirmed an “underweight” rating and issued a $3.25 target price on shares of Paramount Group in a research report on Tuesday. Mizuho lowered their price objective 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.

Paramount Group Stock Performance

The company has a market capitalization of $902.11 million, a P/E ratio of -4.20 and a beta of 1.10. 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’s 50 day moving average is $4.34 and its 200-day moving average is $4.69.

Paramount Group (NYSE:PGRE) last issued its quarterly earnings results 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. Paramount Group had a negative return on equity of 5.26% and a negative net margin of 27.92%. The firm had revenue of $186.27 million for the quarter, compared to analysts’ expectations of $180.41 million. Equities analysts anticipate that Paramount Group, Inc. will post 0.78 EPS for the current fiscal year.

Insider Activity

In other news, CEO Albert P. Behler bought 10,000 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were purchased at an average price of $4.15 per share, for a total transaction of $41,500.00. Following the completion of the purchase, the chief executive officer now owns 751,812 shares in the company, valued at approximately $3,120,019.80. This represents a 1.35 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 13.50% of the company’s stock.

Hedge Funds Weigh In On Paramount Group

Hedge funds have recently added to or reduced their stakes in the company. Cohen & Steers Inc. bought a new stake in shares of Paramount Group in the 4th quarter worth $9,231,000. Solel Partners LP bought a new position in Paramount Group during the 4th quarter valued at about $6,719,000. Long Pond Capital LP lifted its stake in Paramount Group by 12.5% during the 4th quarter. Long Pond Capital LP now owns 10,053,335 shares of the financial services provider’s stock valued at $49,663,000 after acquiring an additional 1,116,395 shares during the period. Northern Trust Corp boosted its holdings in shares of Paramount Group by 40.1% during the 4th quarter. Northern Trust Corp now owns 2,891,068 shares of the financial services provider’s stock valued at $14,282,000 after acquiring an additional 827,187 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Paramount Group in the fourth quarter worth approximately $2,701,000. 65.64% of the stock is currently owned by hedge funds and other institutional investors.

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.