Paramount Group Inc (NYSE:PGRE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “Paramount Group, Inc. is a real estate investment trust focused on owning, operating and managing Class A office properties. It provides asset management, leasing, acquisitions, redevelopment and financing. The Company owns properties in New York City, Washington D.C. and San Francisco. Paramount Group, Inc. is based in the United States. “

Separately, TheStreet downgraded Paramount Group from a “c” rating to a “d+” rating in a report on Thursday, November 16th. Four equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $16.42.

Shares of Paramount Group (NYSE PGRE) opened at $16.25 on Tuesday. The firm has a market capitalization of $3,918.00, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 3.09 and a beta of 0.80. Paramount Group has a twelve month low of $15.14 and a twelve month high of $17.58.

Paramount Group (NYSE:PGRE) last released its quarterly earnings data on Monday, November 6th. The financial services provider reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The company had revenue of $179.80 million for the quarter, compared to the consensus estimate of $172.85 million. Paramount Group had a return on equity of 1.76% and a net margin of 12.29%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the business posted $0.20 EPS. research analysts anticipate that Paramount Group will post 0.89 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of Paramount Group by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,678,913 shares of the financial services provider’s stock valued at $42,864,000 after buying an additional 205,210 shares in the last quarter. Voya Investment Management LLC raised its position in Paramount Group by 2.4% during the second quarter. Voya Investment Management LLC now owns 55,571 shares of the financial services provider’s stock valued at $889,000 after purchasing an additional 1,317 shares in the last quarter. Rhumbline Advisers raised its position in Paramount Group by 4.5% during the second quarter. Rhumbline Advisers now owns 217,655 shares of the financial services provider’s stock valued at $3,482,000 after purchasing an additional 9,302 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in shares of Paramount Group by 5.6% during the second quarter. Great West Life Assurance Co. Can now owns 108,007 shares of the financial services provider’s stock worth $1,726,000 after buying an additional 5,711 shares during the last quarter. Finally, California Public Employees Retirement System grew its stake in shares of Paramount Group by 8.0% during the second quarter. California Public Employees Retirement System now owns 378,600 shares of the financial services provider’s stock worth $6,058,000 after buying an additional 28,000 shares during the last quarter. Institutional investors own 62.64% of the company’s stock.

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Paramount Group Company Profile

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).

Analyst Recommendations for Paramount Group (NYSE:PGRE)

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