Mizuho Cuts Paramount Group (NYSE:PGRE) Price Target to $5.00

Paramount Group (NYSE:PGRE) had its price objective cut by Mizuho from $6.00 to $5.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Paramount Group Trading Up 0.3 %

Shares of PGRE opened at $4.61 on Tuesday. 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 52-week low of $4.21 and a 52-week high of $5.47. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of -4.70 and a beta of 1.22. The business’s fifty day moving average is $4.74 and its 200-day moving average is $4.88.

Paramount Group (NYSE:PGRE) last released its earnings results on Thursday, February 27th. The financial services provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. Paramount Group had a negative return on equity of 5.26% and a negative net margin of 27.92%. Equities analysts anticipate that Paramount Group will post 0.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. abrdn plc increased its holdings in Paramount Group by 10.5% in the 3rd quarter. abrdn plc now owns 36,830 shares of the financial services provider’s stock worth $181,000 after purchasing an additional 3,514 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Paramount Group by 9.5% during the third quarter. Van ECK Associates Corp now owns 36,906 shares of the financial services provider’s stock worth $190,000 after purchasing an additional 3,187 shares during the last quarter. Ground Swell Capital LLC acquired a new position in shares of Paramount Group in the third quarter valued at approximately $67,000. Asset Management One Co. Ltd. raised its holdings in Paramount Group by 7.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 257,029 shares of the financial services provider’s stock valued at $1,265,000 after buying an additional 18,005 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in Paramount Group during the 3rd quarter worth approximately $106,000. 65.64% of the stock is currently owned by institutional investors.

About Paramount Group

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.