Goldman Sachs Group upgraded shares of Paramount Group (NYSE:PGRE) from a sell rating to a neutral rating in a research report released on Tuesday, Marketbeat Ratings reports. Goldman Sachs Group currently has $16.00 price target on the financial services provider’s stock.

A number of other equities analysts also recently issued reports on PGRE. Zacks Investment Research raised Paramount Group from a hold rating to a buy rating and set a $18.00 target price for the company in a research note on Wednesday, November 15th. TheStreet downgraded Paramount Group from a c rating to a d+ rating in a research note on Thursday, November 16th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $16.60.

Paramount Group (PGRE) opened at $14.21 on Tuesday. The stock has a market capitalization of $3,425.85, a P/E ratio of 37.57, a PEG ratio of 3.06 and a beta of 0.67. Paramount Group has a one year low of $13.76 and a one year high of $17.58.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, December 29th were paid a dividend of $0.095 per share. This represents a $0.38 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Thursday, December 28th. Paramount Group’s dividend payout ratio (DPR) is 102.70%.

Hedge funds have recently modified their holdings of the company. IBM Retirement Fund purchased a new position in Paramount Group in the 4th quarter valued at approximately $181,000. Teton Advisors Inc. increased its stake in Paramount Group by 37.7% in the 3rd quarter. Teton Advisors Inc. now owns 17,900 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 4,900 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Paramount Group in the 4th quarter valued at approximately $286,000. Daiwa Securities Group Inc. increased its stake in Paramount Group by 6,222.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 20,423 shares of the financial services provider’s stock valued at $327,000 after purchasing an additional 20,100 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Paramount Group in the 3rd quarter valued at approximately $333,000. 61.71% of the stock is owned by institutional investors and hedge funds.

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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).

Analyst Recommendations for Paramount Group (NYSE:PGRE)

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