Morgan Stanley Has Lowered Expectations for Paramount Group (NYSE:PGRE) Stock Price

Paramount Group (NYSE:PGRE) had its target price decreased by Morgan Stanley from $4.25 to $4.00 in a research report issued on Tuesday, Marketbeat.com reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target would suggest a potential downside of 3.73% from the company’s previous close.

Separately, Mizuho cut 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 note on Tuesday, February 25th.

Paramount Group Stock Performance

Shares of PGRE stock opened at $4.16 on Tuesday. The firm’s 50 day moving average price is $4.54 and its 200-day moving average price is $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 has a one year low of $3.96 and a one year high of $5.47. The firm has a market cap of $903.83 million, a P/E ratio of -4.24 and a beta of 1.22.

Paramount Group (NYSE:PGRE) last announced its quarterly earnings data on Thursday, February 27th. The financial services provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The firm had revenue of $186.27 million during 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%. As a group, equities research analysts predict that Paramount Group will post 0.78 EPS for the current year.

Institutional Trading of Paramount Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PGRE. Metis Global Partners LLC increased its position in Paramount Group by 38.8% during the 3rd quarter. Metis Global Partners LLC now owns 18,020 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 5,039 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Paramount Group by 782.7% in the 3rd 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. Intech Investment Management LLC purchased a new stake in Paramount Group in the 3rd quarter valued at about $175,000. Algert Global LLC grew its holdings in Paramount Group by 2.3% in the 3rd quarter. Algert Global LLC now owns 327,690 shares of the financial services provider’s stock valued at $1,612,000 after buying an additional 7,437 shares during the period. Finally, Swedbank AB grew its holdings in Paramount Group by 25.2% in the 3rd quarter. Swedbank AB now owns 142,466 shares of the financial services provider’s stock valued at $701,000 after buying an additional 28,650 shares during the period. 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.