Parkway Properties Inc. (PKY) Now Covered by JMP Securities
Equities researchers at JMP Securities began coverage on shares of Parkway Properties Inc. (NYSE:PKY) in a report issued on Tuesday. The brokerage set an “outperform” rating and a $22.00 price target on the real estate investment trust’s stock. JMP Securities’ price objective would suggest a potential upside of 12.24% from the stock’s current price.
Several other research analysts have also commented on the stock. Stifel Nicolaus assumed coverage on shares of Parkway Properties in a research note on Tuesday, October 18th. They set a “sell” rating and a $17.00 price target on the stock. Zacks Investment Research raised shares of Parkway Properties from a “hold” rating to a “strong-buy” rating and set a $22.00 price objective for the company in a report on Wednesday, October 12th. DA Davidson set a $18.00 price objective on shares of Parkway Properties and gave the stock a “hold” rating in a report on Thursday, October 6th. 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. Finally, Citigroup Inc. downgraded shares of Parkway Properties from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $18.64.
Parkway Properties (NYSE:PKY) opened at 19.60 on Tuesday. Parkway Properties has a 12-month low of $11.54 and a 12-month high of $23.20. The firm has a market cap of $979.39 million, a price-to-earnings ratio of 54.75 and a beta of 1.21. The company’s 50 day moving average is $17.88 and its 200 day moving average is $17.47.
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Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC bought a new stake in shares of Parkway Properties during the second quarter worth $117,000. PineBridge Investments L.P. increased its stake 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 worth $173,000 after buying an additional 386 shares during the period. Teacher Retirement System of Texas increased its position in 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 worth $198,000 after buying an additional 1,549 shares during the last quarter. Hsbc Holdings PLC increased its position in 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 worth $206,000 after buying an additional 210 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Parkway Properties during the second quarter worth approximately $213,000. 98.28% of the stock is owned by hedge funds and other 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.
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