Paramount Group, Inc. (NYSE:PGRE) Shares Sold by State Street Corp

State Street Corp trimmed its holdings in Paramount Group, Inc. (NYSE:PGRE) by 3.7% in the third quarter, Holdings Channel.com reports. The institutional investor owned 8,182,781 shares of the financial services provider’s stock after selling 317,380 shares during the quarter. State Street Corp’s holdings in Paramount Group were worth $40,259,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. increased its stake 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 during the period. Point72 DIFC Ltd purchased a new stake in shares of Paramount Group in the third quarter valued at about $37,000. Quantinno Capital Management LP purchased a new stake in shares of Paramount Group in the third quarter valued at about $64,000. Ground Swell Capital LLC acquired a new position in shares of Paramount Group during the third quarter worth about $67,000. Finally, Marshall Wace LLP purchased a new position in Paramount Group during the second quarter worth about $74,000. Institutional investors and hedge funds own 65.64% of the company’s stock.

Paramount Group Price Performance

Paramount Group stock opened at $4.81 on Friday. The stock has a market capitalization of $1.05 billion, a P/E ratio of -4.91 and a beta of 1.23. The company has a debt-to-equity ratio of 0.91, a current ratio of 4.45 and a quick ratio of 4.45. The firm’s 50-day moving average is $4.96 and its two-hundred day moving average is $4.90. Paramount Group, Inc. has a 12-month low of $4.21 and a 12-month high of $5.47.

Analyst Upgrades and Downgrades

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

Paramount Group 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.