Paramount Group (PGRE) has risen sharply, recording gains of 4.49% in the past 4 weeks. However, the stock has corrected -0.06% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 3.42% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
The stock has recorded a 20-day Moving Average of 1.14% and the 50-Day Moving Average is 5.7%. Paramount Group (NYSE:PGRE): On Fridays trading session , Opening price of the stock was $17.47 with an intraday high of $17.775. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $17.43. However, the stock managed to close at $17.45, a loss of 0.17% for the day. On the previous day, the stock had closed at $17.48. The total traded volume of the day was 532,100 shares.
The company Insiders own 5.9% of Paramount Group shares according to the proxy statements. Institutional Investors own 64.86% of Paramount Group shares. During last six month period, the net percent change held by insiders has seen a change of 224.01%. Also, Deutsche Bank maintains its rating on Paramount Group (NYSE:PGRE). The global brokerage major raises the current price target from $20 per share to $21 per share. Analysts at the Deutsche Bank have a current rating of Buy on the shares. The rating by the firm was issued on July 18, 2016.
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.