Home Knightsbridge Insights Sitting on a Cash Pile 17.0? REIT Retaining High Quality Tenants

Sitting on a Cash Pile 17.0? REIT Retaining High Quality Tenants

by Paul Ebeling

#cash#bullish#buy

$PGRE

Paramount Group Inc. (NYSE:PGRE) saw a Key reversal on heavy volume Wednesday at 9.40/share. Thus, triggering an LTN Cash Pile speculative buy signal with at 1yr price target at 17.45/share.

Evercore ISI upgraded it to In-Line from Underperform and has an 11 price target. Shares closed 9.37 Wednesday, but they traded as high as 11.65 in the past yr.

A Key technical indicator turned Very Bullish Wednesday and others are flashing Bullish to Very Bullish in here.

Key support is at 8.99 and Key resistance is at 10.19. We are Neutral with a slight Bullish bias.

HQ’d in New York City, Paramount Group, Inc. is a fully-integrated REIT (real estate investment trust) that owns, operates, manages, acquires and redevelops high-quality, Class A office properties located in select central business district submarkets of New York City and San Francisco.

Paramount is focused on maximizing the value of its portfolio by leveraging the sought-after locations of its assets and its proven property management capabilities to attract and retain high-quality tenants.

Have a prosperous day, Keep the Faith!

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