Paramount Group, Inc. CEO Albert P. Behler Acquires 10,000 Shares

On March 21st, Albert P. Behler, the CEO of Paramount Group, Inc. (NYSE:PGRE), bought 10,000 shares of the company's stock. The shares were purchased at an average price of $4.15 each, totaling $41,500. Following this purchase, Behler's direct ownership rose to 751,812 shares, which are valued at approximately $3,120,019.80. This acquisition marks a 1.35% increase in his total stock ownership. The transaction was formally reported in a filing with the Securities and Exchange Commission (SEC).

Stock Performance of Paramount Group

On Tuesday, shares of Paramount Group (NYSE:PGRE) traded at $4.17, having decreased by $0.03 during the session. The trading volume was 1,383,641 shares, which is significantly higher than the average volume of 970,463 shares. The market capitalization for Paramount Group is now around $907.09 million, with a PE ratio of -4.26 and a beta of 1.22. In terms of price history, the stock has experienced a 52-week low of $3.96 and a 52-week high of $5.47. Currently, the stock is trading below its 50-day moving average of $4.51 and its 200-day moving average of $4.79. The company has a debt-to-equity ratio of 0.91 and both a quick ratio and current ratio of 4.45.

Earnings Report Insights

Paramount Group reported its earnings results on February 27th, revealing earnings of $0.19 per share for the quarter, which surpassed analysts' expectations of $0.17 by $0.02. The total revenues for this quarter were reported at $186.27 million, exceeding predictions of $180.41 million. Despite the positive revenue figures, the company reported a negative net margin of 27.92% and a negative return on equity of 5.26%. Analysts forecast that Paramount Group, Inc. will likely post earnings of $0.78 per share for the current fiscal year.

Institutional Investments and Changes

Recent changes in institutional holdings reflect increased interest in Paramount Group. For instance, Connor Clark & Lunn Investment Management Ltd. boosted its stake in the company by 782.7% in the third quarter, acquiring an additional 316,399 shares to bring its holding to 356,825 shares worth $1,756,000. Additionally, Intech Investment Management LLC entered a new position in Paramount Group valued at about $175,000. Algert Global LLC raised its holdings by 2.3%, now owning 327,690 shares worth $1,612,000. Swedbank AB has also increased its position by 25.2% to own 142,466 shares, and Daiwa Securities Group Inc. raised its stake by 14.5% with an additional 7,600 shares bought.

Analyst Ratings and Recommendations

Paramount Group has been the subject of various analyst reports lately. On March 18th, Morgan Stanley lowered its price target for Paramount Group from $4.25 to $4.00 while maintaining an "equal weight" rating. Mizuho also adjusted its price target from $6.00 to $5.00, assigning an "outperform" rating in their report dated February 25th.

Company Overview of Paramount Group

Paramount Group, Inc. is a fully integrated real estate investment trust (REIT) that specializes in owning, operating, managing, acquiring, and redeveloping high-quality Class A office properties located primarily in key central business districts in New York and San Francisco. The company's strategy revolves around maximizing the value of its portfolio through its desirable locations and strong property management capabilities, aiming to attract and retain high-quality tenants.

CEO, Shares, Acquisition, Investment, Earnings