Mizuho Issues Pessimistic Forecast for Paramount Group (NYSE:PGRE) Stock Price

Paramount Group (NYSE:PGRE) had its target price decreased by research analysts at Mizuho from $6.00 to $5.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Mizuho’s price target indicates a potential upside of 8.58% from the company’s current price.

Paramount Group Trading Up 2.3 %

Shares of PGRE traded up $0.11 during trading hours on Tuesday, hitting $4.61. The company had a trading volume of 226,737 shares, compared to its average volume of 915,350. Paramount Group has a 52-week low of $4.21 and a 52-week high of $5.47. The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.91. The stock’s 50 day moving average price is $4.75 and its 200 day moving average price is $4.88. The firm has a market cap of $1.00 billion, a P/E ratio of -4.70 and a beta of 1.22.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sterling Capital Management LLC raised its stake in shares of Paramount Group by 806.3% during the fourth quarter. Sterling Capital Management LLC now owns 5,909 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 5,257 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its stake in Paramount Group by 226.0% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,140 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 4,950 shares during the period. Point72 DIFC Ltd bought a new stake in Paramount Group in the third quarter valued at $37,000. Gotham Asset Management LLC purchased a new stake in shares of Paramount Group in the 4th quarter worth about $52,000. Finally, Commerce Bank bought a new stake in shares of Paramount Group during the 4th quarter valued at about $54,000. Institutional investors own 65.64% of the company’s stock.

Paramount Group Company Profile

Paramount Group, Inc (“Paramount” or the “Company”) 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 and San Francisco. Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.