Heitman Real Estate Securities LLC Sells 17,308 Shares of Paramount Group, Inc. (NYSE:PGRE)

Heitman Real Estate Securities LLC trimmed its position in shares of Paramount Group, Inc. (NYSE:PGRE) by 6.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 245,170 shares of the financial services provider’s stock after selling 17,308 shares during the quarter. Heitman Real Estate Securities LLC’s holdings in Paramount Group were worth $1,206,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. grew its position in Paramount Group by 226.0% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,140 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 4,950 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in Paramount Group in the 2nd quarter worth about $52,000. Ground Swell Capital LLC bought a new stake in Paramount Group during the 3rd quarter valued at about $67,000. Marshall Wace LLP purchased a new stake in Paramount Group in the 2nd quarter valued at about $74,000. Finally, Metis Global Partners LLC boosted its position in Paramount Group by 38.8% in the 3rd quarter. Metis Global Partners LLC now owns 18,020 shares of the financial services provider’s stock valued at $89,000 after buying an additional 5,039 shares during the period. 65.64% of the stock is owned by hedge funds and other institutional investors.

Paramount Group Stock Down 1.7 %

PGRE stock opened at $4.78 on Tuesday. The stock has a market capitalization of $1.04 billion, a PE ratio of -4.87 and a beta of 1.24. Paramount Group, Inc. has a 52 week low of $4.21 and a 52 week high of $5.92. 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 firm has a 50 day moving average of $4.99 and a 200 day moving average of $4.88.

Wall Street Analyst Weigh In

Separately, Wells Fargo & Company boosted their price target on Paramount Group from $3.50 to $4.00 and gave the company an “underweight” rating in a report on Wednesday, September 11th.

Paramount Group 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.