Today, Parkway Properties Inc. (PKY) Research Coverage Started at JMP Securities

Today, Parkway Properties Inc. (PKY) Research Coverage Started at JMP Securities

JMP Securities began coverage on shares of Parkway Properties Inc. (NYSE:PKY) in a report released on Tuesday, The Fly reports. The firm set an “outperform” rating on the real estate investment trust’s stock.

Other research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Parkway Properties from a “buy” rating to a “hold” rating in a research note on Saturday, August 6th. 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. Citigroup Inc. downgraded shares of Parkway Properties from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 31st. Finally, Robert W. Baird downgraded shares of Parkway Properties from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $19.00 to $18.00 in a research note on Wednesday, August 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $18.08.

Parkway Properties (NYSE:PKY) opened at 18.28 on Tuesday. Parkway Properties has a 52 week low of $11.54 and a 52 week high of $23.20. The stock’s 50 day moving average is $17.90 and its 200-day moving average is $17.46. The firm has a market capitalization of $913.43 million, a price-to-earnings ratio of 51.06 and a beta of 1.21.

Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC purchased a new stake in shares of Parkway Properties during the second quarter valued at $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 valued at $173,000 after buying an additional 386 shares in the last quarter. Teacher Retirement System of Texas increased its stake 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 increased its stake 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 purchased a new stake in shares of Parkway Properties during the second quarter valued at $213,000. Hedge funds and other institutional investors 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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