Wells Fargo Maintains a Hold Rating on Paramount Group

By Austin Angelo

In a report released yesterday, Blaine Heck from Wells Fargo maintained a Hold rating on Paramount Group (NYSE: PGRE), with a price target of $16.50. The company’s shares closed yesterday at $15.72.

Paramount Group has an analyst consensus of Hold.

Based on Paramount Group’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $167 million and GAAP net loss of $148K. In comparison, last year the company earned revenue of $182 million and had a net profit of $1.12 million.

Paramount Group, Inc. is a real estate investment and management company, which engages in owning, operating, managing, acquiring and redeveloping office properties in central business district submarkets of New York and San Francisco. The company was founded by Werner Otto in 1978 and is headquartered in New York, NY.