Morgan Stanley Adjusts Paramount Group Price Target

Analysts at Morgan Stanley have revised their price target for Paramount Group (NYSE: PGRE) from $4.25 to $4.00, as noted in a research note released on Tuesday. The firm has assigned an "equal weight" rating to the company's stock. This new target price indicates a potential downside of approximately 3.26% from the stock's previous closing price.

In addition to Morgan Stanley's update, Mizuho has also lowered its price target on Paramount Group from $6.00 to $5.00 and maintained an "outperform" rating for the company in a separate report published on February 25th. Current evaluations indicate that one equity analyst has rated the stock as a sell, three as hold, and one as a buy. According to MarketBeat data, the consensus rating for the stock remains "Hold," with an average target price of $4.50.

Paramount Group Stock Performance

During midday trading on Tuesday, shares of Paramount Group were up by 0.6%, increasing by $0.03 to reach $4.14. The trading volume for the day was 352,302 shares, while the average trading volume stands at 968,110 shares. Key financial ratios include a debt-to-equity ratio of 0.91, a current ratio of 4.45, and a quick ratio also at 4.45. The fifty-day moving average price of the stock is $4.57, while the 200-day moving average price is $4.82. Paramount Group has a market capitalization of approximately $899.48 million, a P/E ratio of -4.22, and a beta of 1.22. Over the past year, the stock hit a low of $3.96 and a high of $5.47.

Paramount Group recently reported its quarterly earnings on February 27th, indicating earnings per share (EPS) of $0.19, surpassing analysts' expected EPS of $0.17 by $0.02. The company experienced a net margin of -27.92% and a return on equity of -5.26%. Revenue for the quarter was $186.27 million, exceeding analyst estimates of $180.41 million. Analysts are predicting that Paramount Group will report an EPS of 0.78 for the current fiscal year.

Institutional Investors' Activity

Recently, several institutional investors and hedge funds have either increased or decreased their stakes in Paramount Group. For instance, Metis Global Partners LLC boosted its stake by 38.8% during the third quarter, owning 18,020 shares valued at $89,000 after acquiring 5,039 additional shares. Connor Clark & Lunn Investment Management Ltd. significantly increased its holdings by 782.7%, now owning 356,825 shares worth $1,756,000 following a purchase of 316,399 shares. Additionally, Intech Investment Management LLC took a new position valued at about $175,000 during the same period. Algert Global LLC raised its holdings by 2.3%, and Swedbank AB increased its ownership by 25.2%. Collectively, institutional investors and hedge funds account for approximately 65.64% of the company's stock.

About Paramount Group

Paramount Group, Inc. is a fully-integrated real estate investment trust (REIT) specializing in the ownership, operation, management, acquisition, and redevelopment of high-quality, Class A office properties. The company primarily focuses on central business district submarkets located in New York and San Francisco. Paramount aims to enhance the value of its portfolio by leveraging prime locations and effective property management strategies to attract and retain high-quality tenants.

Paramount, Morgan, Stocks