Paramount Group stock hits 52-week high at $6.34 amid growth

In a notable surge, Paramount Group Inc (NYSE:PGRE) stock has reached a 52-week high, touching $6.34, signaling a robust performance that has caught the attention of investors. With a market capitalization of $1.5 billion and an overall Financial Health score of "Fair" according to InvestingPro, the company has demonstrated remarkable momentum. This peak represents a significant milestone for the real estate investment trust, reflecting a substantial 35.5% return over the past year. The company’s stock has been on an upward trajectory, posting impressive gains of 29.2% over the past six months and 25.5% year-to-date. While technical indicators suggest the stock is currently in overbought territory, analysts maintain mixed views on its prospects. InvestingPro subscribers have access to 8 additional key insights about PGRE’s valuation and growth potential through exclusive ProTips.

In other recent news, Paramount Group reported its first-quarter 2025 financial results, showing a core funds from operations (FFO) of $0.17 per share, which exceeded consensus estimates by $0.01. The company also recorded revenue of $187.02 million, surpassing the forecast of $178.53 million. Despite these positive results, the earnings per share (EPS) were -$0.05, aligning with expectations. In another development, Evercore ISI analyst Steve Sakwa upgraded Paramount Group’s stock rating from In Line to Outperform, setting a new price target of $8.00, up from the previous $4.50. This upgrade is based on a detailed asset-by-asset net asset value calculation and reflects a potential 48% upside. Additionally, Paramount Group has formed a committee to explore strategic options with the assistance of Bank of America, following the departure of CFO & COO Wilbur Paes and General Counsel Gage Johnson. The company has also seen improvements in leasing activity, particularly in New York, with the occupancy rate rising to 87.4%. These recent developments indicate Paramount Group’s active efforts to enhance shareholder value amid ongoing market challenges.

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