Parkway Properties Stock Rating Lowered by Zacks (PKY)
Parkway Properties (NYSE:PKY) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued to investors on Monday, American Banking News reports. They currently have a $17.10 price target on the stock. Zacks‘ price objective would suggest a potential downside of 4.74% from the company’s current price.
PKY has been the subject of a number of other recent research reports. Analysts at BMO Capital Markets downgraded shares of Parkway Properties from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 19th. They now have a $19.00 price target on the stock, down previously from $22.00. Separately, analysts at JMP Securities raised their price target on shares of Parkway Properties from $19.00 to $20.00 in a research note on Tuesday, February 18th. Finally, analysts at Barclays initiated coverage on shares of Parkway Properties in a research note on Tuesday, January 28th. They set an “overweight” rating and a $20.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $19.68.
Shares of Parkway Properties (NYSE:PKY) traded up 0.95% on Monday, hitting $18.12. The stock had a trading volume of 184,482 shares. Parkway Properties has a 52 week low of $15.70 and a 52 week high of $19.67. The stock has a 50-day moving average of $17.83 and a 200-day moving average of $17.68. The company has a market cap of $1.657 billion and a P/E ratio of 51.14.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, March 26th. Stockholders of record on Wednesday, March 12th will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Monday, March 10th.
Parkway Properties, Inc (NYSE:PKY) is a self-administered real estate investment trust (REIT) specializing in the ownership of office properties in higher growth submarkets in the Sunbelt region of the United States.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.