MQS Management LLC Boosts Stock Position in Paramount Group, Inc. (NYSE:PGRE)

MQS Management LLC grew its holdings in Paramount Group, Inc. (NYSE:PGRE) by 79.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,175 shares of the financial services provider’s stock after buying an additional 17,383 shares during the quarter. MQS Management LLC’s holdings in Paramount Group were worth $193,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Van ECK Associates Corp increased its position in shares of Paramount Group by 7.0% in the second quarter. Van ECK Associates Corp now owns 33,719 shares of the financial services provider’s stock valued at $156,000 after buying an additional 2,202 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Paramount Group by 8.5% in the first quarter. ProShare Advisors LLC now owns 33,259 shares of the financial services provider’s stock valued at $156,000 after buying an additional 2,617 shares in the last quarter. Bank of Montreal Can increased its position in shares of Paramount Group by 2.5% in the second quarter. Bank of Montreal Can now owns 116,636 shares of the financial services provider’s stock valued at $540,000 after buying an additional 2,811 shares in the last quarter. abrdn plc increased its position in shares of Paramount Group by 10.5% during the third quarter. abrdn plc now owns 36,830 shares of the financial services provider’s stock worth $181,000 after purchasing an additional 3,514 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Paramount Group by 8.6% during the second quarter. Arizona State Retirement System now owns 48,673 shares of the financial services provider’s stock worth $225,000 after purchasing an additional 3,873 shares in the last quarter. 65.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Paramount Group Stock Down 4.1 %

Shares of PGRE opened at $4.83 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 4.45 and a current ratio of 4.45. Paramount Group, Inc. has a one year low of $4.21 and a one year high of $5.92. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -4.92 and a beta of 1.25. The stock has a 50 day moving average price of $5.03 and a 200 day moving average price of $4.88.

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.