Paramount Group (NYSE:PGRE) Now Covered by StockNews.com

StockNews.com started coverage on shares of Paramount Group (NYSE:PGRE – Get Rating) in a research note released on Thursday morning. The firm issued a sell rating on the financial services provider’s stock.

A number of other research firms have also recently issued reports on PGRE. Bank of America initiated coverage on shares of Paramount Group in a report on Wednesday, March 1st. They set a neutral rating and a $5.50 price target for the company. Evercore ISI cut shares of Paramount Group from an in-line rating to an underperform rating and decreased their price target for the company from $8.00 to $6.50 in a report on Monday, November 21st. Mizuho reduced their target price on shares of Paramount Group from $8.00 to $7.00 and set a buy rating for the company in a research note on Wednesday, January 4th. Finally, Morgan Stanley reduced their target price on shares of Paramount Group from $6.50 to $5.25 and set an equal weight rating for the company in a research note on Thursday, March 9th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $6.04.

Paramount Group Stock Down 5.3 %

PGRE stock opened at $4.30 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 3.85 and a current ratio of 3.85. Paramount Group has a 52-week low of $4.24 and a 52-week high of $11.16. The company has a 50-day moving average of $5.71 and a two-hundred day moving average of $6.13.

Paramount Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Friday, March 31st will be paid a dividend of $0.078 per share. This represents a $0.31 dividend on an annualized basis and a yield of 7.26%. The ex-dividend date is Thursday, March 30th. Paramount Group’s dividend payout ratio is -193.74%.

Insiders Place Their Bets

In other Paramount Group news, CEO Albert P. Behler purchased 20,000 shares of the business’s stock in a transaction on Thursday, February 23rd. The stock was purchased at an average price of $5.43 per share, for a total transaction of $108,600.00. Following the completion of the purchase, the chief executive officer now directly owns 221,812 shares in the company, valued at $1,204,439.16. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Paramount Group news, CEO Albert P. Behler purchased 20,000 shares of the business’s stock in a transaction on Thursday, February 23rd. The stock was purchased at an average price of $5.43 per share, for a total transaction of $108,600.00. Following the completion of the purchase, the chief executive officer now directly owns 221,812 shares in the company, valued at $1,204,439.16. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Albert P. Behler purchased 30,000 shares of the business’s stock in a transaction on Thursday, March 9th. The shares were acquired at an average price of $5.05 per share, with a total value of $151,500.00. Following the purchase, the chief executive officer now owns 391,812 shares of the company’s stock, valued at $1,978,650.60. The disclosure for this purchase can be found here. Insiders acquired a total of 90,000 shares of company stock worth $467,500 over the last quarter. Company insiders own 10.40% of the company’s stock.

Institutional Trading of Paramount Group

Several hedge funds have recently modified their holdings of PGRE. Wipfli Financial Advisors LLC acquired a new stake in shares of Paramount Group during the third quarter worth approximately $43,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Paramount Group during the second quarter worth approximately $52,000. Cipher Capital LP acquired a new stake in shares of Paramount Group during the fourth quarter worth approximately $63,000. Point72 Hong Kong Ltd increased its holdings in shares of Paramount Group by 145.8% during the third quarter. Point72 Hong Kong Ltd now owns 10,969 shares of the financial services provider’s stock worth $68,000 after buying an additional 6,506 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Paramount Group by 13.9% during the third quarter. Royal Bank of Canada now owns 13,986 shares of the financial services provider’s stock worth $87,000 after buying an additional 1,706 shares in the last quarter. Institutional investors and hedge funds own 59.17% of the company’s stock.

About Paramount Group

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Paramount Group, Inc is a real estate investment and management company, which engages in the ownership, operation, management, acquisition, and redevelopment of office properties in central business district submarkets. The company operates through the New York and San Francisco segments. The company was founded by Werner Otto in 1978 and is headquartered in New York, NY.