JMP Securities initiated coverage on shares of Parkway Properties Inc. (NYSE:PKY) in a research note issued to investors on Tuesday. The brokerage issued an outperform rating and a $22.00 price target on the real estate investment trust’s stock.

Several other brokerages have also issued reports on PKY. Zacks Investment Research upgraded shares of Parkway Properties from a hold rating to a strong-buy rating and set a $22.00 target price for the company in a research report on Wednesday, October 12th. Stifel Nicolaus started coverage on shares of Parkway Properties in a research report on Tuesday, October 18th. They issued a sell rating and a $17.00 price target for the company. Raymond James Financial Inc. lowered shares of Parkway Properties from an outperform rating to a market perform rating in a research report on Wednesday, August 31st. Citigroup Inc. lowered shares of Parkway Properties from an outperform rating to a market perform rating in a research report on Wednesday, August 31st. Finally, Robert W. Baird lowered shares of Parkway Properties from an outperform rating to a neutral rating and dropped their price target for the stock from $19.00 to $18.00 in a research report on Wednesday, August 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $18.64.

Parkway Properties (NYSE:PKY) opened at 18.97 on Tuesday. Parkway Properties has a 12-month low of $11.54 and a 12-month high of $23.20. The company has a market cap of $947.91 million, a price-to-earnings ratio of 52.99 and a beta of 1.21. The company’s 50 day moving average is $17.90 and its 200 day moving average is $17.46.

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Several institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new position in Parkway Properties during the second quarter valued at approximately $117,000. PineBridge Investments L.P. increased its position in Parkway Properties by 3.9% in the second quarter. PineBridge Investments L.P. now owns 10,343 shares of the real estate investment trust’s stock valued at $173,000 after buying an additional 386 shares during the period. Teacher Retirement System of Texas increased its position in Parkway Properties by 15.1% in the second quarter. Teacher Retirement System of Texas now owns 11,825 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 1,549 shares during the period. Hsbc Holdings PLC increased its position in Parkway Properties by 1.7% in the second quarter. Hsbc Holdings PLC now owns 12,298 shares of the real estate investment trust’s stock valued at $206,000 after buying an additional 210 shares during the period. Finally, GSA Capital Partners LLP bought a new position in Parkway Properties during the second quarter valued at approximately $213,000. 98.28% of the stock is currently owned by hedge funds and other institutional investors.

Parkway Properties Company Profile

Parkway Properties, Inc is an integrated real estate investment trust. The Company is engaged in the acquisition, ownership, development and management of office properties in various submarkets in the Sunbelt region of the United States. The Company 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.

5 Day Chart for NYSE:PKY

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