UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 1,109,485 Shares of Paramount Group, Inc. (NYSE:PGRE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Paramount Group, Inc. (NYSE:PGRE) by 398.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,388,257 shares of the financial services provider’s stock after purchasing an additional 1,109,485 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Paramount Group were worth $6,830,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of 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 valued at $1,756,000 after buying an additional 316,399 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Paramount Group by 5.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 129,471 shares of the financial services provider’s stock valued at $608,000 after purchasing an additional 6,583 shares during the period. Millennium Management LLC lifted its position in Paramount Group by 4,007.2% during the second quarter. Millennium Management LLC now owns 953,947 shares of the financial services provider’s stock valued at $4,417,000 after purchasing an additional 930,721 shares during the period. Long Pond Capital LP lifted its position in Paramount Group by 131.4% during the second quarter. Long Pond Capital LP now owns 7,501,361 shares of the financial services provider’s stock valued at $34,731,000 after purchasing an additional 4,259,635 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Paramount Group by 92.7% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 45,423 shares of the financial services provider’s stock valued at $223,000 after buying an additional 21,846 shares during the last quarter. Hedge funds and other institutional investors own 65.64% of the company’s stock.

Wall Street Analyst Weigh In

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

Paramount Group Stock Performance

PGRE opened at $4.88 on Wednesday. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -4.97 and a beta of 1.24. The company has a fifty day moving average of $4.97 and a 200 day moving average of $4.89. Paramount Group, Inc. has a fifty-two week low of $4.21 and a fifty-two week high of $5.92. 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 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.