Paramount Group, Inc. CEO Albert P. Behler Purchases 10,000 Shares

On March 21st, 2023, Albert P. Behler, the CEO of Paramount Group, Inc. (NYSE:PGRE), acquired 10,000 shares of the company's stock in a notable transaction. The shares were bought at an average price of $4.15 each, resulting in a total expenditure of $41,500. Following this purchase, Behler now holds a total of 751,812 shares in Paramount Group, which are valued at approximately $3,120,019.80. This action marks a 1.35% increase in his ownership stake in the company. Details of the transaction were made public through a filing with the Securities and Exchange Commission.

Market Performance of Paramount Group

On Tuesday, March 26th, shares of Paramount Group traded down by $0.03, reaching a price of $4.17 per share, with a trading volume of 1,383,641 shares, which exceeds the average volume of 970,463 shares. The company's market capitalization stands at $907.09 million, with a price-to-earnings ratio of -4.26 and a beta of 1.22. Over the past year, Paramount Group has experienced a low of $3.96 and a high of $5.47. It is noteworthy that the stock has a 50-day moving average price of $4.51 and a 200-day moving average of $4.79. Paramount's debt-to-equity ratio is 0.91, with both its quick and current ratios at 4.45.

Recent Earnings Announcement

Paramount Group recently disclosed its earnings for the quarter ending February 27th, reporting earnings per share of $0.19. This figure surpassed analyst forecasts which had estimated earnings of $0.17. Revenue for the quarter was recorded at $186.27 million, outperforming analyst expectations of $180.41 million. However, the company has reported a negative net margin of 27.92% and a negative return on equity of 5.26%. Analysts predict that Paramount Group will post an earnings per share of $0.78 for the current fiscal year.

Changes in Institutional Holdings

Recent activities among institutional investors include significant changes to their positions in Paramount Group. For instance, Connor Clark & Lunn Investment Management Ltd. has increased its holdings by 782.7% during the third quarter, now owning 356,825 shares valued at $1,756,000 after purchasing an additional 316,399 shares. Intech Investment Management LLC also entered a new position valued at around $175,000, while Algert Global LLC raised its holdings by 2.3%, now possessing 327,690 shares valued at $1,612,000. Additionally, Swedbank AB boosted its stake by 25.2%, owning 142,466 shares worth $701,000. Overall, 65.64% of Paramount Group's stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings and Predictions

Paramount Group has recently caught the attention of analysts, leading to several updates in their ratings. Morgan Stanley adjusted its price target for the stock, lowering it from $4.25 to $4.00 while maintaining an "equal weight" rating. Similarly, Mizuho also changed their price target from $6.00 to $5.00 while designating an "outperform" rating for the company.

About Paramount Group

Paramount Group, Inc. is a well-established real estate investment trust that specializes in owning, operating, managing, acquiring, and redeveloping high-quality, Class A office properties. The company focuses on key business districts in New York and San Francisco, striving to enhance the value of its property portfolio by leveraging its prime locations and expertise in property management to attract premium tenants.

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