Parkway Prop (NYSE:PKY) Stock Upgrade
Stock analysts at Stifel’s division of equities hiked the rating on shares of Parkway Prop (NYSE:PKY) from a Hold to a Buy earlier today. The analysts now have a $19.5 target price on PKY or a 14.17% upside.
From a total of 10 analysts covering Parkway Properties (NYSE:PKY) stock, 5 rate it a ”Buy”, 0 a “Sell”, and 9 a ”Hold”. This means that 36% of the ratings are positive. The highest target price is $20 while the lowest target price is $17. The mean of all analyst targets is $18.73 with a 11.24% above today’s ($17.08) stock price. Parkway Properties was the topic of 10 analyst reports since August 5, 2015 according to the firm StockzIntelligence Inc. Stifel Nicolaus upgraded shares on December 1 to “Buy” rating. Wells Fargo downgraded PKY stock in a recent report from October 7 to “Market Perform” rating. Finally, Zacks upgraded the stock to “Sell” rating in a report issued on an August 5.
The stock closed the day at $17.08 during the previous session. It is down 1.79% since April 28, 2015 and is uptrending. It has outperformed by 3.41% the S&P500.
Parkway Properties, Inc. is an integrated, self-administered and self-managed real estate investment trust (REIT). The company has a market cap of $1.90 billion. The Firm is engaged in the acquisition, ownership and management of office and parking properties in high-growth submarkets in the Sunbelt region of the United States. It has 20.77 P/E ratio. The Firm offers fee real estate services through wholly owned subsidiaries, which in total managed and/or leased approximately six million square feet for third-party property owners.
According to Zacks Investment Research, “Parkway Properties, Inc. is a self-administered, self-managed real estate investment trust specializing in the acquisition, ownership, management, financing and leasing of office properties in the Southeastern United States and Texas.” Get a free copy of the Zacks research report on Parkway Properties Inc (PKY)