The Vanguard Group, Inc. has recently announced that it has increased stake in Paramount Group Inc. (NYSE:PGRE) by 2.43%. After grabbing 26.51 million shares, the institutional investor is now in possession of 0.63 million shares of the Real Estate Company. The new investment brought the stake of investor firm to 12.06% having worth around $171.55 million. Moreover, BlackRock Fund Advisors increased its share by 1.7 million to have a control over 14.89 million shares. And SSgA Funds Management, Inc. raised its holdings to 0.14 million shares by acquiring 9.54 million shares or 4.34% of the stake.
Paramount Group Inc. (PGRE) concluded trading on 11/17/22 at a closing price of $6.23, with 3.42 million shares of worth about $21.3 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -28.72% during that period and on Thursday the price saw a gain of about 1.14%. Currently the company’s common shares owned by public are about 224.87M shares, out of which, 185.87M shares are available for trading.
Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $8.00 and could fall to a lowest price of $5.00. The stock’s current price level is 15.81% above of average price target set by the analysts, while a rise to estimated low would result in loss of -24.6% for the stock. However, touching the estimated high of $8.00 would mean a gain of 22.12% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 2 times over the past 12 months. They bought 27,714 shares in 2 of the transactions. In 0 selling transactions, insiders dumped 0 shares.
Government Pension Fund – Global, Vanguard Real Estate Index Fund, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in Paramount Group Inc. Government Pension Fund – Global is currently holding 19.88 million shares of worth totaling $128.64 million. The company recently came buying 0.0 shares which brought its stake up to 9.05% of the company’s outstanding shares. Vanguard Real Estate Index Fund sold 41498.0 shares, after which its hold over company’s outstanding shares shrunk to 3.63%, leaving 7.98 million shares with the mutual fund that have a worth of about $51.62 million. Vanguard Total Stock Market Index, after buying 5.69 million shares, have now control over 2.59% of the stake in the company. It holds 63440.0 shares of worth $36.82 million.
Paramount Group Inc. (NYSE: PGRE) started trading at $6.09, below -$0.07 from concluding price of the previous day. However, the stock later moved at a day high price of 6.24, or with a gain of 1.14%. Stock saw a price change of -7.29% in past 5 days and over the past one month there was a price change of -2.66%. Year-to-date (YTD), PGRE shares are showing a performance of -25.30% which decreased to -31.99% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $5.78 but also hit the highest price of $11.53 during that period. The average intraday trading volume for Paramount Group Inc. shares is 1.65 million. The stock is currently trading -4.23% below its 20-day simple moving average (SMA20), while that difference is down -4.33% for SMA50 and it goes to -24.44% lower than SMA200.
The Vanguard Group, Inc. acquired 26.51 million shares of Paramount Group Inc. having value of about $171.55 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.63 million shares in the company valued at close to $3924214.7, or have control over 2.43% stake in the company. Paramount Group Inc. (NYSE: PGRE) currently have 224.87M outstanding shares and institutions hold larger chunk of about 71.00% of that. Holding of mutual funds in the company is about 28.92% while other institutional holders and individual stake holders have control over 39.78% and 15.74% of the stake respectively.
The stock has a current market capitalization of $1.36B and its 3Y-monthly beta is at 1.18. PE ratio of stock for trailing 12 months is 519.17, while it has posted earnings per share of $0.01 in the same period. It has a debt-to-equity ratio of 1.04. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PGRE, volatility over the week remained 4.26% while standing at 3.76% over the month.
Analysts are in expectations that Paramount Group Inc. (PGRE) stock would likely to be making an EPS of $0.01 in the current quarter, while forecast for next quarter EPS is $0.01 and it is $0.05 for next year. For the current quarter EPS, analysts have given the company a lowest target $0 which is $0.03 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.01 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -5.50% while it is estimated to increase by 20.00% in next year.
Coverage by Mizuho stated Paramount Group Inc. (PGRE) stock as a Buy in their note to investors on January 20, 2022, suggesting a price target of $10.50 for the stock. On September 08, 2021, Evercore ISI Upgrade their recommendations, while on July 14, 2021, Mizuho Resumed their ratings for the stock with a price target of $11. Stock get an Underperform rating from Evercore ISI on June 14, 2021.