Parkway Properties Sets New 1-Year High at $19.69 (PKY)
Parkway Properties (NYSE:PKY) shares reached a new 52-week high during trading on Friday , Analyst Ratings Network reports. The company traded as high as $19.69 and last traded at $19.60, with a volume of 198,738 shares changing hands. The stock had previously closed at $19.37.
PKY has been the subject of a number of recent research reports. Analysts at Citigroup Inc. reiterated a “sell” rating on shares of Parkway Properties in a research note on Friday. They now have a $17.00 price target on the stock, up previously from $15.00. Separately, analysts at RBC Capital raised their price target on shares of Parkway Properties from $20.00 to $21.00 in a research note on Friday, May 16th. Finally, analysts at Robert W. Baird raised their price target on shares of Parkway Properties from $20.00 to $21.00 in a research note on Thursday, May 15th. They now have an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $20.09.
The stock’s 50-day moving average is $18.60 and its 200-day moving average is $18.16. The company’s market cap is $2.030 billion.
Parkway Properties (NYSE:PKY) last posted its quarterly earnings results on Monday, May 12th. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.31 by $0.03. The company had revenue of $104.11 million for the quarter, compared to the consensus estimate of $101.57 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. The company’s quarterly revenue was up 52.7% on a year-over-year basis. Analysts expect that Parkway Properties will post $1.35 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, June 25th. Investors of record on Wednesday, June 11th will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend is Monday, June 9th.
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.
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