Paramount Group, Inc. (NYSE:PGRE – Get Free Report) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 6,930,000 shares, a drop of 18.4% from the March 31st total of 8,490,000 shares. Approximately 3.9% of the shares of the company are short sold. Based on an average daily volume of 1,240,000 shares, the days-to-cover ratio is currently 5.6 days.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on PGRE shares. Morgan Stanley reduced their price objective on Paramount Group from $4.70 to $4.50 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th. Evercore ISI upgraded shares of Paramount Group from an “underperform” rating to an “in-line” rating and set a $5.00 price objective on the stock in a research note on Monday, March 18th. Finally, StockNews.com cut shares of Paramount Group from a “hold” rating to a “sell” rating in a research note on Monday, February 19th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $4.60.
Check Out Our Latest Stock Report on Paramount Group
Hedge Funds Weigh In On Paramount Group
Paramount Group Price Performance
PGRE traded up $0.05 during trading on Friday, reaching $4.67. The company had a trading volume of 442,656 shares, compared to its average volume of 847,646. The firm’s 50-day simple moving average is $4.60 and its 200 day simple moving average is $4.74. Paramount Group has a 12-month low of $4.06 and a 12-month high of $5.92. The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 0.95.
Paramount Group Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.035 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.14 dividend on an annualized basis and a yield of 3.00%. Paramount Group’s dividend payout ratio is currently -11.67%.
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.
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