Long Pond Capital Lp buys $171.4 Million stake in Paramount Group Inc (PGRE)

Paramount Group Inc (PGRE) : Long Pond Capital Lp scooped up 700,000 additional shares in Paramount Group Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 10,290,677 shares of Paramount Group Inc which is valued at $171.4 Million.Paramount Group Inc makes up approximately 8.98% of Long Pond Capital Lp’s portfolio.

Other Hedge Funds, Including , Hbk Investments L P added PGRE to its portfolio by purchasing 38,242 company shares during the most recent quarter which is valued at $637,112. Paramount Group Inc makes up approx 0.01% of Hbk Investments L P’s portfolio.Security Capital Research Management Inc boosted its stake in PGRE in the latest quarter, The investment management firm added 8,455 additional shares and now holds a total of 1,140,356 shares of Paramount Group Inc which is valued at $19 Million. Paramount Group Inc makes up approx 0.60% of Security Capital Research Management Inc’s portfolio.Blackrock Institutional Trust Company N.a. boosted its stake in PGRE in the latest quarter, The investment management firm added 129,369 additional shares and now holds a total of 5,676,168 shares of Paramount Group Inc which is valued at $94.6 Million. Paramount Group Inc makes up approx 0.02% of Blackrock Institutional Trust Company N.a.’s portfolio. Secor Capital Advisors Lp added PGRE to its portfolio by purchasing 21,346 company shares during the most recent quarter which is valued at $355,624. Paramount Group Inc makes up approx 0.07% of Secor Capital Advisors Lp’s portfolio.Alpine Woods Capital Investors reduced its stake in PGRE by selling 100,891 shares or 73.91% in the most recent quarter. The Hedge Fund company now holds 35,608 shares of PGRE which is valued at $593,229. Paramount Group Inc makes up approx 0.03% of Alpine Woods Capital Investors’s portfolio.

Paramount Group Inc closed down -0.03 points or -0.18% at $16.23 with 5,90,714 shares getting traded on Wednesday. Post opening the session at $16.33, the shares hit an intraday low of $16.14 and an intraday high of $16.37 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Paramount Group Inc reported $0.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.21. The company had revenue of $172.92 million for the quarter, compared to analysts expectations of $170.51 million. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.20 EPS.

Many Wall Street Analysts have commented on Paramount Group Inc. Paramount Group Inc was Downgraded by BofA/Merrill to ” Neutral” on Mar 29, 2016. Paramount Group Inc was Upgraded by CapitalOne to ” Overweight” on Mar 2, 2016. Shares were Reiterated by Mizuho on Feb 25, 2016 to “Neutral” and Lowered the Price Target to $ 16 from a previous price target of $18 .

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.

Leave a Reply

Paramount Group Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on Paramount Group Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.