Eii Capital Management Lowers stake in Paramount Group Inc (PGRE)

Paramount Group Inc (PGRE) : Eii Capital Management reduced its stake in Paramount Group Inc by 49.44% during the most recent quarter end. The investment management company now holds a total of 234,100 shares of Paramount Group Inc which is valued at $4,038,225 after selling 228,900 shares in Paramount Group Inc , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Paramount Group Inc makes up approximately 1.15% of Eii Capital Management’s portfolio.

Other Hedge Funds, Including , Duff Phelps Investment Management Co reduced its stake in PGRE by selling 4,050 shares or 0.14% in the most recent quarter. The Hedge Fund company now holds 2,873,609 shares of PGRE which is valued at $50,661,727. Paramount Group Inc makes up approx 0.75% of Duff Phelps Investment Management Co’s portfolio.Pggm Investments reduced its stake in PGRE by selling 614,310 shares or 31.03% in the most recent quarter. The Hedge Fund company now holds 1,365,139 shares of PGRE which is valued at $23,507,694. Paramount Group Inc makes up approx 0.12% of Pggm Investments’s portfolio.Strs Ohio reduced its stake in PGRE by selling 5,480 shares or 2.47% in the most recent quarter. The Hedge Fund company now holds 216,086 shares of PGRE which is valued at $3,721,001. Paramount Group Inc makes up approx 0.02% of Strs Ohio’s portfolio.

Paramount Group Inc opened for trading at $17.46 and hit $17.66 on the upside on Monday, eventually ending the session at $17.62, with a gain of 0.92% or 0.16 points. The heightened volatility saw the trading volume jump to 6,11,550 shares. Company has a market cap of $3,867 M.

On the company’s financial health, Paramount Group Inc reported $0.23 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.20. The company had revenue of $172.30 million for the quarter, compared to analysts expectations of $159.09 million. The company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS.

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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