Paramount Group (NYSE:PGRE) Price Target Cut to $5.00 by Analysts at Mizuho

Paramount Group (NYSE:PGRE) had its price target cut by analysts at Mizuho from $6.00 to $5.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm 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 previous close.

Paramount Group Price Performance

Shares of PGRE stock traded up $0.11 on Tuesday, reaching $4.61. The company’s stock had a trading volume of 226,737 shares, compared to its average volume of 915,350. The company has a market capitalization of $1.00 billion, a P/E ratio of -4.70 and a beta of 1.22. Paramount Group has a 12-month low of $4.21 and a 12-month high of $5.47. The stock’s 50 day simple moving average is $4.75 and its 200-day simple moving average is $4.88. The company has a quick ratio of 4.45, a current ratio of 4.45 and a debt-to-equity ratio of 0.91.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Sterling Capital Management LLC lifted its position in 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 purchasing an additional 5,257 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Paramount Group by 226.0% during the 3rd 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 last quarter. Point72 DIFC Ltd bought a new stake in shares of Paramount Group during the 3rd quarter worth $37,000. Gotham Asset Management LLC purchased a new position in Paramount Group in the fourth quarter worth $52,000. Finally, Commerce Bank bought a new position in Paramount Group in the fourth quarter valued at $54,000. Hedge funds and other 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.