Paramount Group Inc (NASDAQ:PGRE) has been assigned a consensus broker rating score of 2.00 (Buy) from the six analysts that provide coverage for the stock, Zacks Investment Research reports. Three analysts have rated the stock with a hold rating and three have given a strong buy rating to the company.
Analysts have set a one year consensus price objective of $17.90 for the company and are predicting that the company will post $0.20 earnings per share for the current quarter, according to Zacks. Zacks has also given Paramount Group an industry rank of 168 out of 265 based on the ratings given to related companies.
A number of equities research analysts have recently issued reports on PGRE shares. TheStreet lowered Paramount Group from a “c” rating to a “d+” rating in a research report on Tuesday, March 7th. Evercore ISI lowered Paramount Group to a “buy” rating in a research report on Friday, March 3rd. Zacks Investment Research lowered Paramount Group from a “hold” rating to a “sell” rating in a research report on Saturday, April 8th. Finally, Deutsche Bank AG cut their target price on Paramount Group from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday, March 20th.
Several large investors have recently made changes to their positions in PGRE. Norges Bank bought a new stake in shares of Paramount Group during the fourth quarter worth about $165,288,000. BlackRock Institutional Trust Company N.A. raised its stake in shares of Paramount Group by 2.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 5,733,278 shares of the company’s stock worth $93,968,000 after buying an additional 160,323 shares during the period. Morgan Stanley raised its stake in shares of Paramount Group by 92.4% in the third quarter. Morgan Stanley now owns 4,082,310 shares of the company’s stock worth $66,910,000 after buying an additional 1,960,547 shares during the period. BlackRock Fund Advisors raised its stake in shares of Paramount Group by 7.1% in the third quarter. BlackRock Fund Advisors now owns 2,775,375 shares of the company’s stock worth $45,488,000 after buying an additional 184,537 shares during the period. Finally, Presima Inc. raised its stake in shares of Paramount Group by 12.1% in the third quarter. Presima Inc. now owns 2,683,600 shares of the company’s stock worth $43,984,000 after buying an additional 289,500 shares during the period.
Paramount Group (NASDAQ:PGRE) traded down 1.41% during trading on Monday, hitting $16.81. The stock had a trading volume of 781,792 shares. The company’s market cap is $3.88 billion. Paramount Group has a 12-month low of $14.58 and a 12-month high of $18.28. The company has a 50 day moving average of $16.62 and a 200-day moving average of $16.26.
Paramount Group (NASDAQ:PGRE) last announced its earnings results on Wednesday, February 22nd. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by $0.02. The firm earned $166.80 million during the quarter, compared to the consensus estimate of $171.95 million. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.21 earnings per share. On average, equities analysts predict that Paramount Group will post $0.06 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 31st will be given a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Wednesday, March 29th.
About Paramount Group
Paramount Group, Inc is a fully-integrated real estate investment trust (REIT) focused on owning, operating, managing, acquiring and redeveloping Class A office properties in select central business district submarkets of New York City, Washington, District of Columbia (DC) and San Francisco. The Company conducts its business through, and substantially all its interests in properties and investments are held by, Paramount Group Operating Partnership LP (the Operating Partnership).
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