The stock of Parkway Properties Inc (NYSE:PKY) hit a new 52-week high and has $33.78 target or 61.00% above today’s $20.98 share price. The 5 months bullish chart indicates low risk for the $2.29 billion company. The 1-year high was reported on Oct, 7 by Barchart.com. If the $33.78 price target is reached, the company will be worth $1.40 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. Parkway Properties Inc (NYSE:PKY) has risen 16.82% since March 4, 2016 and is uptrending. It has outperformed by 8.78% the S&P500.
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 $33.80M for 16.94 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 firm has “Overweight” rating by Barclays Capital given on Tuesday, July 19. The firm has “Market Perform” rating by Raymond James given on Wednesday, August 31. The firm earned “Market Perform” rating on Wednesday, October 7 by Wells Fargo. The company was upgraded on Tuesday, December 1 by Stifel Nicolaus. The company was downgraded on Thursday, September 29 by Stifel Nicolaus. RBC Capital Markets downgraded the shares of PKY in a report on Monday, August 10 to “Outperform” rating. Barclays Capital maintained it with “Overweight” rating and $16 target price in Friday, March 11 report. DA Davidson downgraded Parkway Properties Inc (NYSE:PKY) on Friday, May 13 to “Neutral” rating. Zacks upgraded the stock to “Sell” rating in Wednesday, August 5 report. The rating was upgraded by Mizuho to “Buy” on Monday, November 23.
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.
Aqr Cap Mngmt Ltd Co has invested 0% of its portfolio in Parkway Properties Inc (NYSE:PKY). Sphinx Trading Ltd Partnership accumulated 0.13% or 4,000 shares. Susquehanna Gru Limited Liability Partnership reported 12,414 shares or 0% of all its holdings. Tiaa Cref Investment Ltd Liability Corporation accumulated 250,689 shares or 0% of the stock. Bnp Paribas Arbitrage owns 26,158 shares or 0% of their US portfolio. Nationwide Fund has 0.01% invested in the company for 120,498 shares. Fdx Advsr Inc holds 0.01% or 12,425 shares in its portfolio. Nuveen Asset Management Ltd last reported 0.03% of its portfolio in the stock. Pnc Fincl Services Gru Inc holds 0% of its portfolio in Parkway Properties Inc (NYSE:PKY) for 431 shares. Goldman Sachs accumulated 0% or 836,062 shares. State Board Of Administration Of Florida Retirement System holds 63,104 shares or 0% of its portfolio. State Street Corporation accumulated 2.79M shares or 0.01% of the stock. First Advisors L P reported 64,937 shares or 0% of all its holdings. First Mercantile Tru holds 0.12% or 57,470 shares in its portfolio. Omers Administration Corporation last reported 454,200 shares in the company.
More important recent Parkway Properties Inc (NYSE:PKY) news were published by: Bizjournals.com which released: “Cousins closes on Parkway Properties merger” on October 06, 2016, also Bizjournals.com published article titled: “After $2B deal, some of Tampa’s biggest corporate names have a new landlord”, Bizjournals.com published: “Cousins Properties and Parkway Properties stockholders approve merger” on August 24, 2016. More interesting news about Parkway Properties Inc (NYSE:PKY) was released by: Jaxdailyrecord.com and their article: “TPG buys Parkway Properties portfolio for $195M” with publication date: September 30, 2016.
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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