Paramount Group Inc. (NYSE: PGRE) stock fell -4.30% on Friday to $6.67 against a previous-day closing price of $6.97. With 1.61 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.09 million shares. During the session, the REIT – Office company that operates in wider Real Estate sector, reached to the highest price of $7.04 whereas the lowest price it dropped to was $6.66. The 52-week range on PGRE shows that it touched its highest point at $11.53 and its lowest point at $6.73 during that stretch. It currently has a 1-year price target of $9.50. With its current market cap of 1.48 billion, PGRE has annualized dividend of $0.31 while the current yield stands at 4.65%. Beta for the stock currently stands at 1.21.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PGRE was down-trending over the past week, with a drop of -4.99%, but this was down by -8.50% over a month. Three-month performance dropped to -8.88% while six-month performance fell -38.24%. The stock lost -22.17% in the past year, while it has lost -20.02% so far this year. A look at the trailing 12-month EPS for PGRE yields 0.01 with Next year EPS estimates of 0.10. For the next quarter, that number is 0.02. This implies an EPS growth rate of -5.50% for this year and 0.00% for next year.
Float and Shares Shorts:
At present, 222.97 million PGRE shares are outstanding with a float of 191.40 million shares on hand for trading. On Jul 14, 2022, short shares totaled 6.85 million, which was 3.13% higher than short shares on Jun 14, 2022. In addition to Mr. Albert P. Behler as the firm’s Chairman, CEO & Pres, Mr. Wilbur Paes CPA serves as its COO, CFO & Treasurer.
Through their ownership of 67.18% of PGRE’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 38.22% of PGRE, in contrast to 29.19% held by mutual funds. Shares owned by individuals account for 15.35%. As the largest shareholder in PGRE with 11.77% of the stake, The Vanguard Group, Inc. holds 26,514,019 shares worth 26,514,019. A second-largest stockholder of PGRE, Norges Bank Investment Management, holds 19,882,031 shares, controlling over 8.82% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in PGRE, holding 14,891,593 shares or 6.61% stake. With a 8.82% stake in PGRE, the Government Pension Fund – Global is the largest stakeholder. A total of 19,882,031 shares are owned by the mutual fund manager. The Vanguard Real Estate Index Fund, which owns about 3.57% of PGRE stock, is the second-largest Mutual Fund holder. It holds 8,039,427 shares valued at 55.71 million. Vanguard Total Stock Market Index holds 2.49% of the stake in PGRE, owning 5,606,060 shares worth 38.85 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PGRE since 7 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PGRE analysts setting a high price target of $15.00 and a low target of $6.00, the average target price over the next 12 months is $9.86. Based on these targets, PGRE could surge 124.89% to reach the target high and fall by -10.04% to reach the target low. Reaching the average price target will result in a growth of 47.83% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PGRE will report FY 2022 earnings on 02/21/2023. Analysts have provided yearly estimates in a range of $0.10 being high and -$0.03 being low. For PGRE, this leads to a yearly average estimate of $0.03. The surprise factor in the prior quarter was $0.03. Based on analyst estimates, the high estimate for the next quarter is $0.02 and the low estimate is -$0.01. The average estimate for the next quarter is thus $0.00.
Summary of Insider Activity:
Insiders traded PGRE stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 2 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 27,714 while 0 shares were sold.