Xact Kapitalforvaltning AB acquired a new stake in Paramount Group Inc (NYSE:PGRE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 14,520 shares of the financial services provider’s stock, valued at approximately $230,000.
Several other hedge funds also recently bought and sold shares of PGRE. Bank of New York Mellon Corp raised its position in shares of Paramount Group by 13.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,084,895 shares of the financial services provider’s stock worth $17,358,000 after purchasing an additional 125,259 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in shares of Paramount Group by 10.1% during the 3rd quarter. Great West Life Assurance Co. Can now owns 118,871 shares of the financial services provider’s stock valued at $1,891,000 after buying an additional 10,864 shares during the period. Wells Fargo & Company MN grew its stake in shares of Paramount Group by 104.0% during the 3rd quarter. Wells Fargo & Company MN now owns 81,314 shares of the financial services provider’s stock valued at $1,301,000 after buying an additional 41,456 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Paramount Group by 4.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,788,687 shares of the financial services provider’s stock valued at $44,618,000 after buying an additional 109,774 shares during the period. Finally, OxFORD Asset Management LLP purchased a new stake in shares of Paramount Group during the 3rd quarter valued at $834,000. Institutional investors own 68.89% of the company’s stock.
PGRE has been the subject of several research reports. Mizuho reissued a “sell” rating and set a $14.00 price objective on shares of Paramount Group in a research note on Friday, February 23rd. Goldman Sachs raised shares of Paramount Group from a “sell” rating to a “neutral” rating and set a $16.00 price target for the company in a research report on Tuesday, February 6th. Finally, Zacks Investment Research cut shares of Paramount Group from a “hold” rating to a “sell” rating in a research report on Wednesday, March 7th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Paramount Group has a consensus rating of “Sell” and an average price target of $15.75.
NYSE:PGRE opened at $14.01 on Tuesday. The stock has a market capitalization of $3,358.78, a price-to-earnings ratio of 15.70, a PEG ratio of 3.46 and a beta of 0.66. Paramount Group Inc has a 1-year low of $13.70 and a 1-year high of $17.22.
Paramount Group (NYSE:PGRE) last issued its earnings results on Thursday, February 15th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. The business had revenue of $180.26 million for the quarter, compared to analyst estimates of $179.69 million. Paramount Group had a net margin of 12.02% and a return on equity of 1.75%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.17 EPS. equities research analysts predict that Paramount Group Inc will post 0.94 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 13th. Investors of record on Thursday, March 29th were paid a dividend of $0.10 per share. This is a positive change from Paramount Group’s previous quarterly dividend of $0.10. The ex-dividend date was Wednesday, March 28th. This represents a $0.40 annualized dividend and a yield of 2.86%. Paramount Group’s dividend payout ratio is 44.94%.
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Paramount Group Profile
Headquartered in New York City, Paramount Group, Inc 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 City, Washington, DC and San Francisco.
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