Parkway Properties Receives Consensus Recommendation of “Hold” from Brokerages (NYSE:PKY)
Parkway Properties (NYSE:PKY) has received an average rating of “Hold” from the eleven brokerages that are currently covering the stock, Analyst Ratings Net reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $21.04.
In other Parkway Properties news, Director James A. Thomas sold 2,700 shares of Parkway Properties stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $20.77, for a total transaction of $56,079.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on PKY shares. Analysts at Capital One Financial Corp. initiated coverage on shares of Parkway Properties in a research note on Tuesday. They set an “equal weight” rating on the stock. Separately, analysts at Raymond James reiterated an “outperform” rating on shares of Parkway Properties in a research note on Monday, August 18th. They now have a $21.00 price target on the stock. Finally, analysts at RBC Capital raised their price target on shares of Parkway Properties from $21.00 to $24.00 in a research note on Thursday, August 14th.
Parkway Properties (NYSE:PKY) opened at 20.75 on Tuesday. Parkway Properties has a one year low of $15.95 and a one year high of $21.80. The stock’s 50-day moving average is $20.92 and its 200-day moving average is $19.57. The company’s market cap is $2.151 billion.
Parkway Properties (NYSE:PKY) last released its earnings data on Thursday, August 7th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 52.1% on a year-over-year basis. On average, analysts predict that Parkway Properties will post $1.40 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 24th. Shareholders of record on Wednesday, September 10th will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend is Monday, September 8th.
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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