Parkway Properties Price Target Raised to $24.00 at RBC Capital (PKY)
RBC Capital hoisted their target price on shares of Parkway Properties (NYSE:PKY) from $21.00 to $24.00 in a research note issued on Thursday. RBC Capital’s price target would suggest a potential upside of 14.34% from the company’s current price.
A number of other firms have also recently commented on PKY. Analysts at Zacks downgraded shares of Parkway Properties from an “outperform” rating to a “neutral” rating in a research note on Thursday, July 31st. They now have a $23.40 price target on the stock. Separately, 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. Finally, 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Parkway Properties has an average rating of “Hold” and a consensus target price of $21.04.
Parkway Properties (NYSE:PKY) traded up 0.19% on Thursday, hitting $20.88. The stock had a trading volume of 62,758 shares. Parkway Properties has a 1-year low of $15.95 and a 1-year high of $21.80. The stock’s 50-day moving average is $20.91 and its 200-day moving average is $19.30. The company’s market cap is $2.165 billion.
Parkway Properties (NYSE:PKY) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.33 by $0.02. The company had revenue of $110.46 million for the quarter, compared to the consensus estimate of $105.32 million. During the same quarter in the prior year, the company posted $0.28 earnings per share. The company’s quarterly revenue was up 52.1% on a year-over-year basis. 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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