Paramount Group Inc(NYSE:PGRE) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-Market on Feb 22, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Company reported revenue of $166.802M. Analysts estimated a revenue of $171.950M. The revenues were -2.99% below the estimates. Earnings per share were $0.18. The reported EPS was above estimates by 400%. Analysts had estimated an EPS of $-0.06.
In a different note, On Dec 13, 2016, Wells Fargo said it Upgrades its rating on Paramount Group Inc. The shares have been rated ‘Outperform’ by the firm. On Dec 13, 2016, Morgan Stanley said it Downgrades its rating on Paramount Group Inc. The shares have been rated ‘Equal-Weight’ by the firm.
Paramount Group Inc (PGRE) shares turned negative on Wednesdays trading session with the shares closing down -0.19 points or -1.10% at a volume of 10,08,297. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $17.32. The peak price level was also seen at $17.32 while the days lowest was $17.06. Finally the shares closed at $17.11. The 52-week high of the shares is $18.28 while the 52-week low is $14.58. According to the latest information available, the market cap of the company is $3,783 M.
Several Insider Transactions has been reported to the SEC. On Dec 5, 2016, Katharina Otto-bernstein (director 10% owner) purchased 100,000 shares at $15.59 per share price.Also, On Mar 14, 2016, David P Oconnor (director) purchased 32,000 shares at $15.23 per share price.
Paramount Group Inc. (Paramount) is a real estate investment trust (REIT) focused on owning operating and managing Class A office properties in central business district submarkets of New York City Washington D.C. and San Francisco. Paramount conducts its business primarily through Paramount Group Operating Partnership LP. As of December 31 2014 Paramount’s portfolio consisted of 12 Class A office properties aggregating approximately 10.4 million square feet that was 93.9% leased. Paramount has an investment management business where it serves as the general partner and property manager of certain private equity real estate funds for institutional investors and high-net-worth individuals. Paramount’s private equity real estate funds (the Property Funds) invest in office buildings and related facilities primarily in New York City Washington D.C. and San Francisco. The Alternative Investment Funds invest in real estate related debt and preferred equity investments.