Shares of Parkway Properties Inc. (NYSE:PKY) have earned a consensus recommendation of “Hold” from the nine analysts that are presently covering the company. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $17.83.

PKY has been the topic of a number of research analyst reports. Zacks Investment Research raised Parkway Properties from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Wednesday, July 13th. Robert W. Baird lowered Parkway Properties from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $19.00 to $18.00 in a report on Wednesday, August 17th. Citigroup Inc. lowered Parkway Properties from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 31st. Raymond James Financial Inc. lowered Parkway Properties from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 31st. Finally, Stifel Nicolaus cut Parkway Properties from a “hold” rating to a “sell” rating and dropped their price target for the stock from $18.50 to $15.50 in a research note on Wednesday, September 28th. They noted that the move was a valuation call.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Group LTD boosted its position in Parkway Properties by 3.2% in the first quarter. BlackRock Group LTD now owns 596,298 shares of the real estate investment trust’s stock valued at $9,338,000 after buying an additional 18,496 shares during the period. BlackRock Fund Advisors boosted its position in Parkway Properties by 0.6% in the first quarter. BlackRock Fund Advisors now owns 5,273,149 shares of the real estate investment trust’s stock valued at $82,578,000 after buying an additional 33,724 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Parkway Properties by 3.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,296,260 shares of the real estate investment trust’s stock valued at $51,619,000 after buying an additional 118,902 shares during the period. State Street Corp boosted its position in Parkway Properties by 6.3% in the first quarter. State Street Corp now owns 2,747,348 shares of the real estate investment trust’s stock valued at $43,025,000 after buying an additional 162,954 shares during the period. Finally, Lazard Asset Management LLC boosted its position in Parkway Properties by 16.4% in the first quarter. Lazard Asset Management LLC now owns 95,266 shares of the real estate investment trust’s stock valued at $1,491,000 after buying an additional 13,401 shares during the period. 98.06% of the stock is currently owned by institutional investors.

Parkway Properties (NYSE:PKY) opened at 18.92 on Monday. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 20.15 and a beta of 1.32. Parkway Properties has a one year low of $11.54 and a one year high of $23.20. The stock’s 50 day moving average is $17.76 and its 200 day moving average is $16.99.

Parkway Properties (NYSE:PKY) last released its earnings results on Monday, August 8th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Parkway Properties’s revenue was down 15.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.33 earnings per share. On average, equities analysts forecast that Parkway Properties will post $1.29 EPS for the current year.

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.

5 Day Chart for NYSE:PKY

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