Paramount Group (NYSE:PGRE) has tumbled 1.35% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 0.88% in the last four weeks. The stocks are negative as compared to the S&P 500 for the past week with a loss of 0.17%. Paramount Group (NYSE:PGRE) has underperformed the index by 0.04% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Paramount Group (NYSE:PGRE): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $15.85 and $15.82 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $16.15. The buying momentum continued till the end and the stock did not give up its gains. It closed at $16.04, notching a gain of 0.88% for the day. The total traded volume was 2,596,375 . The stock had closed at $15.90 on the previous day.
The company shares have dropped -9.74% from its 1 Year high price. On Dec 2, 2015, the shares registered one year high at $18.56 and the one year low was seen on Feb 12, 2016. The 50-Day Moving Average price is $16.48 and the 200 Day Moving Average price is recorded at $16.42.
On the companys insider trading activities, Oconnor David P, director of Paramount Group, Inc., executed a transaction worth $487,360 on March 10, 2016. A total of 32,000 shares were purchased at an average price of $15.23. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.
Many analysts have stated their opinion on the company shares. In a research note released to the investors, Bank of America downgrades its rating on Paramount Group (NYSE:PGRE).The analysts at the brokerage house have a current rating of Neutral on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on March 29, 2016. Currently the company Insiders own 5.9% of Paramount Group shares according to the proxy statements. Institutional Investors own 66.58% of Paramount Group shares. During last six month period, the net percent change held by insiders has seen a change of 224.01%.
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, Paramounts 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. Paramounts 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.