Proprium Capital Partners adds Paramount Group Inc (PGRE) to its portfolio

Paramount Group Inc (PGRE) : Proprium Capital Partners added new position in Paramount Group Inc during the most recent quarter end. The investment management firm now holds 524,243 shares of Paramount Group Inc which is valued at $8,733,888 , the company said in a statement filed on May 9, 2016 with the SEC.Paramount Group Inc makes up approximately 4.53% of Proprium Capital Partners’s portfolio.

Other Hedge Funds, Including , Presima boosted its stake in PGRE in the latest quarter, The investment management firm added 459,800 additional shares and now holds a total of 1,799,400 shares of Paramount Group Inc which is valued at $30,643,782. Paramount Group Inc makes up approx 4.79% of Presima’s portfolio.State Of New Jersey Common Pension Fund D reduced its stake in PGRE by selling 80,000 shares or 80.0% in the most recent quarter. The Hedge Fund company now holds 20,000 shares of PGRE which is valued at $334,000. Green Street Investors sold out all of its stake in PGRE during the most recent quarter. The investment firm sold 83,900 shares of PGRE which is valued $1,401,130.

Paramount Group Inc closed down -0.15 points or -0.89% at $16.66 with 8,56,180 shares getting traded on Friday. Post opening the session at $16.8, the shares hit an intraday low of $16.57 and an intraday high of $16.82 and the price fluctuated in this range throughout the day.Shares ended Friday 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.

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