Todays Report: Today, JMP Securities Initiates Coverage on Parkway Properties Inc. (PKY)

Today, JMP Securities Initiates Coverage on Parkway Properties Inc. (PKY)

Research analysts at JMP Securities started coverage on shares of Parkway Properties Inc. (NYSE:PKY) in a research note issued on Tuesday, The Fly reports. The firm set an “outperform” rating on the real estate investment trust’s stock.

A number of other equities analysts also recently commented on the stock. Stifel Nicolaus started coverage on shares of Parkway Properties in a research note on Tuesday, October 18th. They set a “sell” rating and a $17.00 target price for the company. Zacks Investment Research upgraded 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 research note on Wednesday, October 12th. DA Davidson set a $18.00 price objective on shares of Parkway Properties and gave the company a “hold” rating in a research note on Thursday, October 6th. Raymond James Financial Inc. downgraded shares of Parkway Properties from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 31st. Finally, Citigroup Inc. downgraded shares of Parkway Properties from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $18.08.

Parkway Properties (NYSE:PKY) opened at 18.79 on Tuesday. The stock has a market cap of $938.92 million, a price-to-earnings ratio of 52.49 and a beta of 1.21. The firm’s 50 day moving average price is $17.90 and its 200-day moving average price is $17.46. Parkway Properties has a 1-year low of $11.54 and a 1-year high of $23.20.

Large investors have recently made changes to their positions in the company. Hsbc Holdings PLC boosted 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 valued at $206,000 after buying an additional 210 shares in the last quarter. Municipal Employees Retirement System of Michigan boosted its position in Parkway Properties by 1.0% in the third quarter. Municipal Employees Retirement System of Michigan now owns 31,800 shares of the real estate investment trust’s stock valued at $541,000 after buying an additional 300 shares in the last quarter. PineBridge Investments L.P. boosted its position in 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. Nisa Investment Advisors LLC boosted its position in Parkway Properties by 3.1% in the second quarter. Nisa Investment Advisors LLC now owns 13,200 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 400 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in Parkway Properties by 1.1% in the third quarter. Louisiana State Employees Retirement System now owns 36,500 shares of the real estate investment trust’s stock valued at $621,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 98.28% of the company’s stock.

Parkway Properties Company Profile

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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