Analysts Downgrades Report: Paramount Group Inc. (PGRE)

Paramount Group Inc (NYSE:PGRE) received a stock rating downgrade from BofA/Merrill on Mar-29-16. In a note to investors, the firm issued a Neutral rating. The analysts previously had a Buy rating on the stock.

Analysts have a consensus target price of $ 18.88 in the 12-month period. The price objective is 19.65% higher than the recent closing price of $ 15.78. The 52-week price range is $ 14.23 – 19.41 and the company has a market capitalization of $ 3.35B. Analysts covering the shares maintain a consensus Buy rating, according to Zacks Investment Research. zero analyst has rated the stock with a sell rating, 1 has assigned a hold rating, zero says it’s a buy, and 4 have assigned a strong buy rating to the company.

Paramount Group Inc (PGRE) on March 24, 2016 announced that it has appointed Karin Klein and Martin Bussmann to its Board of Directors (“Board”) as independent directors. With the additions of Ms. Klein and Dr. Bussmann, Paramount’s Board now comprises nine members, six of whom are independent.

“Karin and Martin are two highly experienced business executives who bring added depth and perspective to our Board,” said Albert Behler, Chairman, Chief Executive Officer and President of Paramount. “We look forward to working with them to continue to identify ways to maximize shareholder value.”

Ms. Klein has been a partner of Bloomberg Beta, a venture capital fund which invests in technology companies that make work better, since 2013. Prior to launching Bloomberg Beta, Ms. Klein led new initiatives at Bloomberg L.P. from 2010 to 2013. Before joining Bloomberg L.P., from 2000 to 2010, Ms. Klein served in various roles at SoftBank Group Corp., a Japanese multinational telecommunications and internet company, including as a vice president and director of corporate development.

Dr. Bussmann has been a Trustee of the Mannheim Trust in New York since 1998, responsible for the investment and management of its assets in real estate, private equity and financial investments in public equity and fixed income. He also serves as director or manager of a number of the Mannheim Trust portfolio companies, including Mannheim Holdings LLC. Earlier in his career, from 1980 until 1994, Dr. Bussmann spent 15 years in the pharmaceutical and chemical industries in Germany and the United States.

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