Paramount Group Inc. [NYSE: PGRE] plunged by -$0.19 during the normal trading session on Thursday and reaching a high of $5.09 during the day while it closed the day at $4.94. The company report on February 15, 2023 that Paramount Announces Fourth Quarter 2022 Results.
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– Completes $65 million of share repurchases in 2022 –– Initiates Guidance for Full Year 2023 –.
Paramount Group, Inc. (NYSE: PGRE) (“Paramount” or the “Company”) filed its Annual Report on Form 10-K for the year ended December 31, 2022 today and reported results for the fourth quarter ended December 31, 2022.
Paramount Group Inc. stock has also loss -5.36% of its value over the past 7 days. However, PGRE stock has declined by -11.31% in the 3 months of the year. Over the past six months meanwhile, it has lost -31.01% and lost -16.84% year-on date.
The market cap for PGRE stock reached $1.06 billion, with 218.55 million shares outstanding and 185.87 million shares in the current float. Compared to the average trading volume of 1.35M shares, PGRE reached a trading volume of 2840751 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Paramount Group Inc. [PGRE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PGRE shares is $6.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PGRE stock is a recommendation set at 3.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BofA Securities have made an estimate for Paramount Group Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 01, 2023. While these analysts kept the previous recommendation, Morgan Stanley dropped their target price from $8 to $6.50. The new note on the price target was released on November 23, 2022, representing the official price target for Paramount Group Inc. stock. Previously, the target price had yet another drop from $8 to $6.50, while Evercore ISI kept a Underperform rating on PGRE stock.
The Average True Range (ATR) for Paramount Group Inc. is set at 0.18, with the Price to Sales ratio for PGRE stock in the period of the last 12 months amounting to 1.43. The Price to Book ratio for the last quarter was 0.30, with the Price to Cash per share for the same quarter was set at 1.90. Price to Free Cash Flow for PGRE in the course of the last twelve months was 4.55.
PGRE stock trade performance evaluation
Paramount Group Inc. [PGRE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.36. With this latest performance, PGRE shares dropped by -19.67% in over the last four-week period, additionally sinking by -31.01% over the last 6 months – not to mention a drop of -52.50% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PGRE stock in for the last two-week period is set at 23.94, with the RSI for the last a single of trading hit 17.67, and the three-weeks RSI is set at 29.54 for Paramount Group Inc. [PGRE]. The present Moving Average for the last 50 days of trading for this stock 5.85, while it was recorded at 5.14 for the last single week of trading, and 6.71 for the last 200 days.
Paramount Group Inc. [PGRE]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Paramount Group Inc. [PGRE] shares currently have an operating margin of +23.09 and a Gross Margin at +31.12. Paramount Group Inc.’s Net Margin is presently recorded at -4.93.
Return on Equity for this stock declined to -1.02, with Return on Assets sitting at -0.43.
Paramount Group Inc. [PGRE]: Insider Ownership positions
There are presently around $717 million, or 68.60% of PGRE stock, in the hands of institutional investors. The top three institutional holders of PGRE stocks are: BLACKROCK INC. with ownership of 27,644,295, which is approximately 31.463% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 27,118,564 shares of the stock with an approximate value of $133.97 million in PGRE stocks shares; and NORGES BANK, currently with $90.79 million in PGRE stock with ownership of nearly -7.563% of the company’s market capitalization.
Positions in Paramount Group Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 74 institutional holders increased their position in Paramount Group Inc. [NYSE:PGRE] by around 15,013,534 shares. Additionally, 97 investors decreased positions by around 17,435,437 shares, while 16 investors held positions by with 112,727,571 shares. The mentioned changes placed institutional holdings at 145,176,542 shares, according to the latest SEC report filing. PGRE stock had 18 new institutional investments in for a total of 1,532,171 shares, while 26 institutional investors sold positions of 3,101,476 shares during the same period.