Strs Ohio boosted its stake in Paramount Group Inc (NASDAQ:PGRE) by 12.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 255,733 shares of the company’s stock after buying an additional 29,174 shares during the period. Strs Ohio owned about 0.11% of Paramount Group worth $4,091,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its position in Paramount Group by 18.2% in the first quarter. Bank of Montreal Can now owns 7,358 shares of the company’s stock valued at $120,000 after buying an additional 1,135 shares during the period. Orinda Asset Management LLC purchased a new position in Paramount Group during the first quarter valued at $162,000. State of Alaska Department of Revenue boosted its position in Paramount Group by 29.5% in the first quarter. State of Alaska Department of Revenue now owns 77,440 shares of the company’s stock valued at $1,254,000 after buying an additional 17,650 shares during the period. PGGM Investments boosted its position in Paramount Group by 56.5% in the first quarter. PGGM Investments now owns 4,846,000 shares of the company’s stock valued at $78,554,000 after buying an additional 1,750,000 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its position in Paramount Group by 26.6% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 45,313 shares of the company’s stock valued at $734,000 after buying an additional 9,522 shares during the period.

Paramount Group Inc (PGRE) opened at 16.30 on Tuesday. The stock’s market capitalization is $3.77 billion. Paramount Group Inc has a 1-year low of $14.58 and a 1-year high of $18.28. The firm has a 50-day moving average of $16.04 and a 200-day moving average of $16.36.

Paramount Group (NASDAQ:PGRE) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. The firm had revenue of $177.70 million for the quarter, compared to the consensus estimate of $170.11 million. Paramount Group had a net margin of 0.90% and a return on equity of 0.04%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 EPS. Equities analysts expect that Paramount Group Inc will post $0.04 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were issued a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date was Wednesday, June 28th.

Paramount Group announced that its Board of Directors has initiated a share repurchase plan on Thursday, August 3rd that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 5.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

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Several research analysts recently weighed in on PGRE shares. Evercore ISI upgraded shares of Paramount Group from an “in-line” rating to an “outperform” rating in a report on Monday, April 17th. Zacks Investment Research upgraded shares of Paramount Group from a “sell” rating to a “hold” rating in a report on Wednesday, April 19th. TheStreet upgraded shares of Paramount Group from a “d+” rating to a “c” rating in a report on Thursday, May 11th. Morgan Stanley cut shares of Paramount Group from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $17.50 to $15.00 in a report on Tuesday, June 13th. Finally, Goldman Sachs Group, Inc. (The) started coverage on shares of Paramount Group in a report on Thursday, June 22nd. They set a “sell” rating and a $15.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $16.25.

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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Institutional Ownership by Quarter for Paramount Group (NASDAQ:PGRE)

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