Paramount Group (PGRE) has risen sharply, recording gains of 9.67% in the past 4 weeks. However, the stock has corrected -0.96% 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 7.01% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Paramount Group (NYSE:PGRE): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $17.88 and $17.17 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $17.88. The buying momentum continued till the end and the stock did not give up its gains. It closed at $17.46, notching a gain of 0.46% for the day. The total traded volume was 1,241,003 . The stock had closed at $17.38 on the previous day.
The stock has recorded a 20-day Moving Average of 2.85% and the 50-Day Moving Average is 6.65%. Paramount Group, Inc. is up 3.16% in the last 3-month period. Year-to-Date the stock performance stands at -2.34%.
Paramount Group (PGRE) has been rated by 4 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $21 and the lowest price target forecast is $17. The average forecast of all the analysts is $19.25 and the expected standard deviation is $1.71.
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.