Deutsche Bank AG trimmed its stake in shares of Paramount Group Inc (NYSE:PGRE) by 49.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 346,988 shares of the financial services provider’s stock after selling 337,319 shares during the quarter. Deutsche Bank AG owned about 0.14% of Paramount Group worth $5,496,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in the company. IBM Retirement Fund bought a new position in Paramount Group in the 4th quarter worth approximately $181,000. Fox Run Management L.L.C. bought a new position in Paramount Group in the 4th quarter worth approximately $286,000. Suntrust Banks Inc. bought a new position in Paramount Group in the 4th quarter worth approximately $375,000. Aperio Group LLC grew its holdings in Paramount Group by 58.9% in the 4th quarter. Aperio Group LLC now owns 38,989 shares of the financial services provider’s stock worth $618,000 after buying an additional 14,458 shares in the last quarter. Finally, Amalgamated Bank grew its holdings in Paramount Group by 10.3% in the 4th quarter. Amalgamated Bank now owns 39,511 shares of the financial services provider’s stock worth $626,000 after buying an additional 3,693 shares in the last quarter. Institutional investors and hedge funds own 68.59% of the company’s stock.
Shares of NYSE PGRE opened at $14.05 on Friday. The firm has a market cap of $3,370.80, a price-to-earnings ratio of 15.75, a PEG ratio of 3.48 and a beta of 0.66. Paramount Group Inc has a 1 year low of $13.70 and a 1 year high of $17.25.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Thursday, March 29th will be paid a dividend of $0.10 per share. This is a positive change from Paramount Group’s previous quarterly dividend of $0.10. This represents a $0.40 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Wednesday, March 28th. Paramount Group’s dividend payout ratio (DPR) is presently 44.94%.
A number of brokerages recently issued reports on PGRE. TheStreet raised Paramount Group from a “d+” rating to a “c-” rating in a report on Thursday, December 21st. Zacks Investment Research lowered Paramount Group from a “hold” rating to a “sell” rating in a report on Wednesday, March 7th. Mizuho reissued a “sell” rating and issued a $14.00 price objective on shares of Paramount Group in a report on Friday, February 23rd. Finally, Goldman Sachs raised Paramount Group from a “sell” rating to a “neutral” rating and set a $16.00 price target for the company in a research note on Tuesday, February 6th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $15.75.
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Paramount Group Profile
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, Washington, DC and San Francisco.
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