Parkway Properties Inc. (NYSE:PKY) has been given an average recommendation of “Hold” by the eight brokerages that are currently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $21.60.
Several equities research analysts have recently commented on PKY shares. Zacks Investment Research upgraded shares of Parkway Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, May 3rd. Stifel Nicolaus reiterated a “hold” rating and set a $23.00 price target on shares of Parkway Properties in a research report on Sunday, July 2nd. Finally, JMP Securities cut shares of Parkway Properties from an “outperform” rating to a “market perform” rating and set a $22.00 price target for the company. in a research report on Thursday, July 6th.
Shares of Parkway Properties (NYSE:PKY) traded up 0.09% on Tuesday, hitting $22.90. 81,139 shares of the stock were exchanged. The company’s market cap is $1.15 billion. Parkway Properties has a one year low of $16.39 and a one year high of $26.20. The firm’s 50-day moving average is $22.93 and its 200-day moving average is $20.98.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PKY. UBS Asset Management Americas Inc. raised its position in Parkway Properties by 45.9% in the first quarter. UBS Asset Management Americas Inc. now owns 68,131 shares of the real estate investment trust’s stock valued at $1,355,000 after buying an additional 21,445 shares during the last quarter. Comerica Bank raised its position in Parkway Properties by 4.2% in the first quarter. Comerica Bank now owns 47,169 shares of the real estate investment trust’s stock valued at $956,000 after buying an additional 1,912 shares during the last quarter. BNP Paribas Arbitrage SA purchased a new position in Parkway Properties during the first quarter valued at $476,000. Bank of New York Mellon Corp raised its position in Parkway Properties by 25.6% in the first quarter. Bank of New York Mellon Corp now owns 4,454,205 shares of the real estate investment trust’s stock valued at $88,594,000 after buying an additional 908,794 shares during the last quarter. Finally, First Trust Advisors LP purchased a new position in Parkway Properties during the first quarter valued at $283,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.
Parkway Properties Company Profile
Parkway, Inc is a self-managed real estate investment trust (REIT). The Company owns and operates office properties located in submarkets in Houston, Texas. As of December 31, 2016, the Company’s portfolio consisted of five Class A assets comprising 19 buildings and totaling approximately 8.7 million rentable square feet in the Greenway, Galleria and Westchase submarkets of Houston.
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