Paramount Group, Inc. (NYSE:PGRE) Short Interest Update

Paramount Group, Inc. (NYSE:PGRE) was the target of a significant drop in short interest in October. As of October 31st, there was short interest totalling 3,150,000 shares, a drop of 23.4% from the October 15th total of 4,110,000 shares. Currently, 1.8% of the shares of the company are sold short. Based on an average daily trading volume, of 832,100 shares, the days-to-cover ratio is presently 3.8 days.

Paramount Group Price Performance

PGRE stock traded down $0.21 during trading on Friday, hitting $4.82. The company had a trading volume of 1,217,454 shares, compared to its average volume of 940,140. The company has a fifty day moving average price of $5.03 and a two-hundred day moving average price of $4.88. The company has a current ratio of 4.45, a quick ratio of 4.45 and a debt-to-equity ratio of 0.91. Paramount Group has a fifty-two week low of $4.21 and a fifty-two week high of $5.92. The company has a market cap of $1.05 billion, a P/E ratio of -4.92 and a beta of 1.25.

Institutional Trading of Paramount Group

Several large investors have recently added to or reduced their stakes in PGRE. Point72 Asia Singapore Pte. Ltd. lifted its position in 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 buying an additional 4,950 shares in the last quarter. Point72 DIFC Ltd bought a new position in Paramount Group in the 3rd quarter worth approximately $37,000. 1620 Investment Advisors Inc. bought a new stake in shares of Paramount Group during the second quarter worth $52,000. Quantinno Capital Management LP acquired a new position in shares of Paramount Group during the third quarter valued at $64,000. Finally, Ground Swell Capital LLC bought a new position in Paramount Group in the third quarter valued at about $67,000. 65.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Wells Fargo & Company boosted their price objective on Paramount Group from $3.50 to $4.00 and gave the company an “underweight” rating in a research report on Wednesday, September 11th.

About Paramount Group

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.