State of Alaska Department of Revenue increased its holdings in shares of Paramount Group, Inc. (NYSE:PGRE – Get Rating) by 5.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 95,465 shares of the financial services provider's stock after acquiring an additional 4,517 shares during the quarter. State of Alaska Department of Revenue's holdings in Paramount Group were worth $594,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Harvest Fund Management Co. Ltd bought a new stake in shares of Paramount Group during the 2nd quarter worth $52,000. Vestmark Advisory Solutions Inc. bought a new position in shares of Paramount Group during the 2nd quarter valued at approximately $73,000. Stephens Inc. AR purchased a new stake in shares of Paramount Group during the 2nd quarter worth approximately $73,000. Xponance Inc. purchased a new position in Paramount Group in the second quarter valued at approximately $73,000. Finally, Legacy Wealth Asset Management LLC bought a new position in Paramount Group during the second quarter valued at $76,000. Hedge funds and other institutional investors own 59.17% of the company's stock.
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Paramount Group Stock Performance
NYSE:PGRE opened at $5.93 on Thursday. Paramount Group, Inc. has a twelve month low of $5.48 and a twelve month high of $11.53. The company has a quick ratio of 3.48, a current ratio of 3.48 and a debt-to-equity ratio of 0.87. The stock has a market cap of $1.30 billion, a P/E ratio of 296.65 and a beta of 1.15. The business's 50-day moving average price is $6.11 and its two-hundred day moving average price is $6.69.
Paramount Group Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 30th will be paid a $0.078 dividend. The ex-dividend date of this dividend is Thursday, December 29th. This represents a $0.31 dividend on an annualized basis and a yield of 5.26%. Paramount Group's dividend payout ratio is presently 1,550.78%.
Insider Transactions at Paramount Group
In related news, CEO Albert P. Behler bought 40,000 shares of the business's stock in a transaction that occurred on Wednesday, December 7th. The stock was bought at an average cost of $5.75 per share, for a total transaction of $230,000.00. Following the completion of the transaction, the chief executive officer now owns 171,812 shares of the company's stock, valued at $987,919. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Paramount Group news, Director Thomas Armbrust acquired 20,000 shares of the business's stock in a transaction dated Wednesday, December 7th. The stock was bought at an average price of $5.71 per share, with a total value of $114,200.00. Following the purchase, the director now owns 232,853 shares of the company's stock, valued at $1,329,590.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Albert P. Behler bought 40,000 shares of Paramount Group stock in a transaction that occurred on Wednesday, December 7th. The shares were acquired at an average cost of $5.75 per share, for a total transaction of $230,000.00. Following the acquisition, the chief executive officer now owns 171,812 shares in the company, valued at approximately $987,919. The disclosure for this purchase can be found here. Insiders own 10.40% of the company's stock.
Analyst Ratings Changes
PGRE has been the subject of several recent research reports. BTIG Research lowered Paramount Group from a "buy" rating to a "neutral" rating in a report on Wednesday, October 19th. StockNews.com initiated coverage on shares of Paramount Group in a research note on Wednesday, October 12th. They issued a "hold" rating for the company. Morgan Stanley lowered Paramount Group from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $8.00 to $6.50 in a report on Wednesday, November 23rd. Mizuho dropped their price objective on Paramount Group from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Wednesday, January 4th. Finally, Wells Fargo & Company reduced their target price on Paramount Group from $6.00 to $5.00 and set an "underweight" rating for the company in a report on Tuesday, October 18th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $6.60.
Paramount Group Profile
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Headquartered in New York City, Paramount Group, Inc 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 City 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.
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