Parkway Properties Inc. (PKY) Receives New Coverage from Analysts at Stifel Nicolaus
Stifel Nicolaus started coverage on shares of Parkway Properties Inc. (NYSE:PKY) in a research note issued to investors on Tuesday. The brokerage set a “sell” rating on the real estate investment trust’s stock.
PKY has been the subject of a number of other research reports. Robert W. Baird downgraded shares of Parkway Properties from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $19.00 to $18.00 in a report on Wednesday, August 17th. Zacks Investment Research downgraded shares of Parkway Properties from a “buy” rating to a “hold” rating in a report on Saturday, August 6th. DA Davidson set a $18.00 price target on shares of Parkway Properties and gave the stock a “hold” rating in a report on Thursday, October 6th. Citigroup Inc. downgraded shares of Parkway Properties from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 31st. Finally, Raymond James Financial Inc. downgraded shares of Parkway Properties from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Parkway Properties presently has an average rating of “Hold” and a consensus price target of $17.83.
Shares of Parkway Properties (NYSE:PKY) opened at 18.67 on Tuesday. The firm’s 50-day moving average price is $17.88 and its 200 day moving average price is $17.07. Parkway Properties has a one year low of $11.54 and a one year high of $23.20.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/18/parkway-properties-inc-pky-receives-new-coverage-from-analysts-at-stifel-nicolaus.html
Parkway Properties (NYSE:PKY) last announced its quarterly earnings results on Monday, August 8th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.02. The firm had revenue of $107.51 million for the quarter, compared to analyst estimates of $107.59 million. Parkway Properties had a return on equity of 6.36% and a net margin of 23.58%. The firm’s quarterly revenue was down 15.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.33 EPS. On average, analysts anticipate that Parkway Properties will post $1.29 EPS for the current year.
Institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC acquired a new position in shares of Parkway Properties during the second quarter valued at approximately $117,000. PineBridge Investments L.P. boosted its position in shares of Parkway Properties by 3.9% in the second quarter. PineBridge Investments L.P. now owns 10,343 shares of the real estate investment trust’s stock valued at $173,000 after buying an additional 386 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Parkway Properties by 15.1% in the second quarter. Teacher Retirement System of Texas now owns 11,825 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 1,549 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Parkway Properties by 1.7% in the second quarter. Hsbc Holdings PLC now owns 12,298 shares of the real estate investment trust’s stock valued at $206,000 after buying an additional 210 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new position in shares of Parkway Properties during the second quarter valued at approximately $213,000. 98.09% of the stock is owned by institutional investors.
About Parkway Properties
Parkway Properties, Inc is an integrated real estate investment trust. The Company is engaged in the acquisition, ownership, development and management of office properties in various submarkets in the Sunbelt region of the United States. The Company holds interests in a portfolio of approximately 40 office properties located in over six states with an aggregate of approximately 14.3 million square feet of leasable space.
Receive News & Ratings for Parkway Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parkway Properties Inc. and related companies with MarketBeat.com's FREE daily email newsletter.