BlackRock Fund Advisors has recently announced that it has increased stake in Paramount Group Inc. (NYSE:PGRE) by 1.83%. After grabbing 18.0 million shares, the institutional investor is now in possession of 0.32 million shares of the Real Estate Company. The new investment brought the stake of investor firm to 8.29% having worth around $94.34 million. Moreover, Jupiter Asset Management Ltd. increased its share by 7.79 million to have a control over 8.53 million shares. And Charles Schwab Investment Managem raised its holdings to 0.14 million shares by acquiring 4.35 million shares or 2.00% of the stake.
Paramount Group Inc. (PGRE) concluded trading on 09/13/23 at a closing price of $5.01, with 4.31 million shares of worth about $21.6 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 4.81% during that period and on Wednesday the price saw a gain of about 0.20%. Currently the company’s common shares owned by public are about 217.00M shares, out of which, 182.80M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 7 analysts are covering the PGRE stock and their offered price forecasts bring an average price target of $5.00. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $7.00 and could fall to a lowest price of $3.50. The stock’s current price level is -0.2% below of average price target set by the analysts, while a dip to estimated low would result in loss of -43.14% for the stock. However, touching the estimated high of $7.00 would mean a gain of 28.43% 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 30 times over the past 12 months. They bought 629,800 shares in 29 of the transactions. In 1 selling transactions, insiders dumped 17,000 shares.
Government Pension Fund – Global, Vanguard Real Estate Index Fund, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in Paramount Group Inc. Government Pension Fund – Global is currently holding 18.38 million shares of worth totaling $96.3 million. The company recently came selling -1.5 million shares which brought its stake up to 8.46% of the company’s outstanding shares. Vanguard Real Estate Index Fund bought 76587.0 shares, after which its hold over company’s outstanding shares expand to 3.16%, leaving 6.86 million shares with the mutual fund that have a worth of about $35.96 million. Vanguard Total Stock Market ETF, after selling 6.0 million shares, have now control over 2.76% of the stake in the company. It holds 9968.0 shares of worth $31.46 million.
Paramount Group Inc. (NYSE: PGRE) started trading at $5.01, above $0.01 from concluding price of the previous day. However, the stock later moved at a day high price of 5.06, or with a gain of 0.20%. Stock saw a price change of -2.91% in past 5 days and over the past one month there was a price change of 2.87%. Year-to-date (YTD), PGRE shares are showing a performance of -15.66% which decreased to -31.56% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $3.90 but also hit the highest price of $7.20 during that period. The average intraday trading volume for Paramount Group Inc. shares is 1.73 million. The stock is currently trading 1.24% above its 20-day simple moving average (SMA20), while that difference is up 1.23% for SMA50 and it goes to -1.81% lower than SMA200.
BlackRock Fund Advisors acquired 18.0 million shares of Paramount Group Inc. having value of about $94.34 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.32 million shares in the company valued at close to $1622097.72, or have control over 1.83% stake in the company. Paramount Group Inc. (NYSE: PGRE) currently have 217.00M outstanding shares and institutions hold larger chunk of about 68.60% of that. Holding of mutual funds in the company is about 25.93% while other institutional holders and individual stake holders have control over 41.37% and 16.20% of the stake respectively.
The stock has a current market capitalization of $1.10B and its 3Y-monthly beta is at 1.22. It has posted earnings per share of -$0.39 in the same period. It has a debt-to-equity ratio of 1.10. 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 2.62% while standing at 2.88% over the month.
Analysts are in expectations that Paramount Group Inc. (PGRE) stock would likely to be making an EPS of -$0.04 in the current quarter, while forecast for next quarter EPS is -$0.05 and it is -$0.33 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.04 which is -$0.04 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 -76.50% while it is estimated to decrease by -32.00% in next year.
Analysts at 7 brokerage firms have issued recommendations for the Paramount Group Inc. (PGRE)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.10. Out of those 7 Wall Street analysts, 1 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 2 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BofA Securities on March 01, 2023 offering a Neutral rating for the stock and assigned a target price of $5.50 to it.