Eii Capital Management Inc. trimmed its stake in shares of Paramount Group Inc (NYSE:PGRE) by 50.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,982 shares of the financial services provider’s stock after selling 31,532 shares during the quarter. Eii Capital Management Inc.’s holdings in Paramount Group were worth $491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently modified their holdings of the company. Trustees of Dartmouth College bought a new position in shares of Paramount Group during the fourth quarter worth about $6,638,000. GSA Capital Partners LLP bought a new position in shares of Paramount Group during the third quarter worth about $804,000. California Public Employees Retirement System raised its position in shares of Paramount Group by 12.9% during the fourth quarter. California Public Employees Retirement System now owns 461,761 shares of the financial services provider’s stock worth $7,319,000 after acquiring an additional 52,904 shares during the last quarter. Great West Life Assurance Co. Can raised its position in shares of Paramount Group by 10.1% during the third quarter. Great West Life Assurance Co. Can now owns 118,871 shares of the financial services provider’s stock worth $1,891,000 after acquiring an additional 10,864 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Paramount Group by 8.7% during the third quarter. Legal & General Group Plc now owns 1,297,767 shares of the financial services provider’s stock worth $20,765,000 after acquiring an additional 103,363 shares during the last quarter. Institutional investors own 68.59% of the company’s stock.
PGRE has been the subject of a number of analyst reports. Zacks Investment Research downgraded Paramount Group from a “buy” rating to a “hold” rating in a research report on Tuesday, November 28th. TheStreet upgraded Paramount Group from a “d+” rating to a “c-” rating in a research report on Thursday, December 21st. Goldman Sachs upgraded Paramount Group from a “sell” rating to a “neutral” rating and set a $16.00 price objective for the company in a research report on Tuesday, February 6th. Finally, Mizuho restated a “sell” rating and set a $14.00 price objective on shares of Paramount Group in a research report on Friday, February 23rd. Four analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Paramount Group currently has an average rating of “Hold” and a consensus price target of $16.40.
Paramount Group (NYSE:PGRE) last issued its earnings results on Thursday, February 15th. The financial services provider reported $0.22 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.22. The business had revenue of $180.26 million during the quarter, compared to the consensus estimate of $179.69 million. Paramount Group had a return on equity of 1.75% and a net margin of 12.02%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 earnings per share. equities analysts expect that Paramount Group Inc will post 0.94 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Thursday, March 29th will be issued a $0.10 dividend. This is an increase from Paramount Group’s previous quarterly dividend of $0.10. This represents a $0.40 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Wednesday, March 28th. Paramount Group’s payout ratio is presently 102.70%.
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Paramount Group Profile
Paramount Group, Inc is a fully-integrated real estate investment trust (REIT) focused on owning, operating, managing, acquiring and redeveloping Class A office properties in select central business district submarkets of New York City, Washington, District of Columbia (DC) and San Francisco. The Company conducts its business through, and substantially all its interests in properties and investments are held by, Paramount Group Operating Partnership LP (the Operating Partnership).
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