Analysis: Parkway Properties Inc (NYSE:PKY) Stock Target Has Just Been Increased Today
In analysts note revealed to investors and clients by Barclays Capital on 18 December, the firm, Parkway Properties Inc (NYSE:PKY), had their target lowered to $19.00. Analusts presently have a solid Overweight rating on the stock.
From a total of 11 analysts covering Parkway Properties (NYSE:PKY) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN 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 $18.7 with a 21.64% above today’s ($15.62) 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.
Approximately 454,177 shares of stock traded hands. Parkway Properties Inc (NYSE:PKY) has declined 10.70% since May 15, 2015 and is downtrending. It has underperformed by 6.89% the S&P500.
The overall sentiment of institutions has decreased to 0.87 in Q2 2015. Its down 0.27, from 1.14 in 2015Q2. The ratio dropped, as 16 institutions have sold all the shares of Parkway Properties Inc that they owned while 66 funds have taken shares off the table. 14 funds have purchased shares for the first time while 57 added to their positions. These institutions now hold 95.40 million shares or 13.54% less than the 110.33 million shares they owned in 2015Q2.
The Fund Forum Securities Ltd currently is holding shares equating to 4.01% of its total portfolio in Parkway Properties Inc representing a total of 224,067 shares. Another fund,Starwood Real Estate Securities Llc, is holding a total of 342,100 shares equating to 2.88% of their holdings. Additionally, Schneider Capital Management Corp has a 777,759 share stake in Parkway Properties Inc which represents 2.54% of their total portfolio. The Fund, Lombardia Capital Partners Llc, based out of California, has also built up a stake in the stock, which represents a total of 1.98% of their total portfolio. Finally Tpg Group Holdings (Sbs) Advisors Inc., a fund which is based in the state of Texas reported a total holdings of 23.66 million shares.
Parkway Properties, Inc. is an integrated, self-administered and self-managed real estate investment trust (REIT). The company has a market cap of $1.80 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 19 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.”