Paramount Group (PGRE) : Traders are bullish on Paramount Group (PGRE) as it has outperformed the S&P 500 by a margin of 1.85% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.25%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.87% in the last 1 week, and is up 8.73% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Paramount Group (NYSE:PGRE): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $16.99 and $16.99 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $17.26. The buying momentum continued till the end and the stock did not give up its gains. It closed at $17.18, notching a gain of 1.00% for the day. The total traded volume was 1,284,598 . The stock had closed at $17.01 on the previous day.
The stock has recorded a 20-day Moving Average of 6.34% and the 50-Day Moving Average is 6.24%. Paramount Group, Inc. is up 5.99% in the last 3-month period. Year-to-Date the stock performance stands at -3.91%.
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.