Zacks Downgrades Parkway Properties to Neutral (PKY)
Parkway Properties (NYSE:PKY) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Thursday. They currently have a $23.40 target price on the stock. Zacks‘s target price indicates a potential upside of 11.91% from the stock’s previous close.
A number of other firms have also recently commented on PKY. Analysts at Mizuho initiated coverage on shares of Parkway Properties in a research note on Wednesday, July 23rd. They set a “neutral” rating on the stock. Separately, analysts at Barclays raised their price target on shares of Parkway Properties from $22.00 to $23.00 in a research note on Monday, July 21st. They now have an “overweight” rating on the stock. Finally, 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $20.71.
Shares of Parkway Properties (NYSE:PKY) traded down 1.33% during mid-day trading on Thursday, hitting $20.75. The stock had a trading volume of 122,517 shares. Parkway Properties has a 1-year low of $15.95 and a 1-year high of $21.80. The stock has a 50-day moving average of $21.01 and a 200-day moving average of $19.10. The company’s market cap is $2.143 billion.
Parkway Properties (NYSE:PKY) last announced its earnings results on Monday, May 12th. The company reported $0.34 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.33 earnings per share. Parkway Properties’s revenue was up 52.7% compared to the same quarter last year. Analysts expect that Parkway Properties will post $1.39 EPS for the current fiscal year.
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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