The stock of Parkway Properties Inc (NYSE:PKY) is a huge mover today! The stock decreased 2.76% or $0.47 on October 3, hitting $16.53. Parkway Properties Inc (NYSE:PKY) has risen 19.78% since March 1, 2016 and is uptrending. It has outperformed by 7.57% the S&P500.
The move comes after 7 months negative chart setup for the $1.84 billion company. It was reported on Oct, 4 by Barchart.com. We have $15.21 PT which if reached, will make NYSE:PKY worth $147.20M less.
Analysts await Parkway Properties Inc (NYSE:PKY) to report earnings on November, 7. They expect $0.31 EPS, down 6.06% or $0.02 from last year’s $0.33 per share. PKY’s profit will be $34.51 million for 13.33 P/E if the $0.31 EPS becomes a reality. After $0.34 actual EPS reported by Parkway Properties Inc for the previous quarter, Wall Street now forecasts -8.82% negative EPS growth.
Parkway Properties Inc (NYSE:PKY) Ratings Coverage
Out of 9 analysts covering Parkway Properties (NYSE:PKY), 2 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 22% are positive. Parkway Properties has been the topic of 22 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The rating was downgraded by Stifel Nicolaus to “Sell” on Thursday, September 29. Barclays Capital maintained the stock with “Overweight” rating in Tuesday, July 19 report. The firm has “Neutral” rating by Mizuho given on Monday, May 2. RBC Capital Markets downgraded it to “Outperform” rating and $18.0 target price in Monday, August 10 report. The stock of Parkway Properties Inc (NYSE:PKY) has “Overweight” rating given on Friday, March 11 by Barclays Capital. As per Wednesday, August 31, the company rating was downgraded by Raymond James. The stock has “Neutral” rating given by DA Davidson on Friday, May 13. The firm earned “Market Perform” rating on Wednesday, October 7 by Wells Fargo. On Monday, May 2 the stock rating was downgraded by Sandler O’Neill to “Hold”. The rating was upgraded by Mizuho on Monday, November 23 to “Buy”.
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.”
Insitutional Activity: The institutional sentiment increased to 1.2 in Q2 2016. Its up 0.20, from 1 in 2016Q1. The ratio improved, as 19 funds sold all Parkway Properties Inc shares owned while 56 reduced positions. 33 funds bought stakes while 57 increased positions. They now own 105.55 million shares or 2.37% less from 108.11 million shares in 2016Q1.
Fmr Ltd Liability Company holds 0.02% or 8.32 million shares in its portfolio. Comml Bank Of Montreal Can accumulated 2,143 shares or 0% of the stock. Lombardia Cap Partners Llc accumulated 1.69 million shares or 1.86% of the stock. The California-based California State Teachers Retirement Sys has invested 0.01% in Parkway Properties Inc (NYSE:PKY). Forum Ltd owns 3,992 shares or 0.2% of their US portfolio. Blackrock Japan Limited last reported 4,321 shares in the company. Strs Ohio accumulated 147,080 shares or 0.01% of the stock. Thrivent Fincl For Lutherans holds 0.04% of its portfolio in Parkway Properties Inc (NYSE:PKY) for 555,870 shares. The Illinois-based Ubs Asset Americas has invested 0% in Parkway Properties Inc (NYSE:PKY). Springbok Cap Management Limited Co last reported 313,169 shares in the company. Walleye Trading Limited Liability has 54,200 shares for 0.01% of their US portfolio. Moreover, Daiwa Grp has 0% invested in Parkway Properties Inc (NYSE:PKY) for 2,900 shares. Geode Management Ltd Liability Company has invested 0.01% of its portfolio in Parkway Properties Inc (NYSE:PKY). Us Bank De has 0% invested in the company for 708 shares. Clearbridge Investments Lc, a New York-based fund reported 298,400 shares.
More recent Parkway Properties Inc (NYSE:PKY) news were published by: Jaxdailyrecord.com which released: “TPG buys Parkway Properties portfolio for $195M” on September 30, 2016. Also Bizjournals.com published the news titled: “What we know about the properties in Cousins and Parkway’s Houston spinoff” on May 03, 2016. Bizjournals.com‘s news article titled: “Cousins Properties and Parkway Properties stockholders approve merger” with publication date: August 24, 2016 was also an interesting one.
PKY Company Profile
Parkway Properties, Inc., incorporated on May 17, 1996, is an integrated, self-administered and self-managed real estate investment trust. The Firm is engaged in the acquisition, ownership, development and management of office properties in various submarkets in the Sunbelt region of the United States. The Firm 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. The Firm offers fee real estate services through its subsidiaries.
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