Paramount Group (NYSE:PGRE) Shares Gap Up – Should You Buy?

Paramount Group, Inc. (NYSE:PGRE) shares gapped up prior to trading on Tuesday . The stock had previously closed at $4.11, but opened at $4.35. Paramount Group shares last traded at $4.22, with a volume of 113,542 shares traded.

Analysts Set New Price Targets

PGRE has been the topic of a number of recent research reports. Morgan Stanley decreased their price target on shares of Paramount Group from $4.25 to $4.00 and set an “equal weight” rating on the stock in a research note on Tuesday. 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.

Paramount Group Stock Up 2.1 %

The company has a market cap of $903.83 million, a PE ratio of -4.24 and a beta of 1.22. The company has a fifty day moving average of $4.54 and a two-hundred day moving average of $4.81. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.45 and a current ratio of 4.45.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Sterling Capital Management LLC raised its holdings in shares of Paramount Group by 806.3% in the fourth quarter. Sterling Capital Management LLC now owns 5,909 shares of the financial services provider’s stock worth $29,000 after buying an additional 5,257 shares during the period. Point72 Asia Singapore Pte. Ltd. grew 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 acquiring an additional 4,950 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in Paramount Group in the third quarter worth $37,000. Gotham Asset Management LLC bought a new stake in shares of Paramount Group during the fourth quarter worth $52,000. Finally, Commerce Bank purchased a new stake in shares of Paramount Group during the fourth quarter valued at $54,000. Hedge funds and other 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.