Paramount Group, Inc. (NYSE:PGRE) CEO Albert P. Behler Purchases 10,000 Shares

Paramount Group, Inc. (NYSE:PGRE) CEO Albert P. Behler purchased 10,000 shares of the firm’s stock in a transaction on Friday, March 21st. The stock was bought at an average price of $4.15 per share, with a total value of $41,500.00. Following the acquisition, the chief executive officer now owns 751,812 shares in the company, valued at $3,120,019.80. This trade represents a 1.35 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Paramount Group Stock Performance

Shares of PGRE opened at $4.28 on Friday. The firm has a market cap of $929.93 million, a price-to-earnings ratio of -4.36 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 $4.49 and its two-hundred day moving average is $4.78. Paramount Group, Inc. has a 52-week low of $3.96 and a 52-week high of $5.47.

Paramount Group (NYSE:PGRE) last posted its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. The firm had revenue of $186.27 million for the quarter, compared to analysts’ expectations of $180.41 million. Paramount Group had a negative net margin of 27.92% and a negative return on equity of 5.26%. Analysts forecast that Paramount Group, Inc. will post 0.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on PGRE shares. Mizuho reduced their target price on shares of Paramount Group from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 25th. Morgan Stanley decreased their price objective on shares of Paramount Group from $4.25 to $4.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 18th.

Hedge Funds Weigh In On Paramount Group

Several large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in Paramount Group by 21.4% during the third quarter. JPMorgan Chase & Co. now owns 2,517,829 shares of the financial services provider’s stock valued at $12,388,000 after buying an additional 443,777 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Paramount Group by 782.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 356,825 shares of the financial services provider’s stock worth $1,756,000 after purchasing an additional 316,399 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Paramount Group by 7.9% in the third quarter. Geode Capital Management LLC now owns 4,695,561 shares of the financial services provider’s stock worth $23,107,000 after purchasing an additional 345,450 shares during the period. Franklin Resources Inc. acquired a new position in Paramount Group in the third quarter worth $643,000. Finally, Barclays PLC increased its stake in Paramount Group by 95.5% during the third quarter. Barclays PLC now owns 455,700 shares of the financial services provider’s stock valued at $2,242,000 after purchasing an additional 222,656 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.