Parkway Properties PT Raised to $23.00 at Barclays (PKY)
Investment analysts at Barclays upped their target price on shares of Parkway Properties (NYSE:PKY) from $22.00 to $23.00 in a report issued on Monday. The firm currently has an “overweight” rating on the stock. Barclays’ price target suggests a potential upside of 6.73% from the stock’s previous close.
Parkway Properties (NYSE:PKY) traded down 0.74% on Monday, hitting $21.39. 362,996 shares of the company’s stock traded hands. Parkway Properties has a 52-week low of $15.95 and a 52-week high of $21.70. The stock has a 50-day moving average of $20.85 and a 200-day moving average of $18.95. The company’s market cap is $2.209 billion.
Parkway Properties (NYSE:PKY) last announced its earnings results on Monday, May 12th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 52.7% on a year-over-year basis. Analysts expect that Parkway Properties will post $1.39 EPS for the current fiscal year.
A number of other firms have also recently commented on PKY. Analysts at Zacks upgraded shares of Parkway Properties from a “neutral” rating to an “outperform” rating in a research note on Tuesday, June 3rd. They now have a $21.30 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “sell” rating on shares of Parkway Properties in a research note on Friday, May 23rd. They now have a $17.00 price target on the stock, up previously from $15.00. Finally, 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. Parkway Properties currently has a consensus rating of “Buy” and an average price target of $20.48.
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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