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Downgrade Alert for Parkway Properties (PKY)

By Shiri Gupta

Parkway Properties (NYSE:PKY) was downgraded from Hold to Sell at Stifel today. The stock closed yesterday at $17.57 on volume of 253,000 shares, below average daily volume of 1.1 million.

In the past 52 weeks, Parkway Properties share prices have been bracketed by a low of $11.54 and a high of $18.68 and closed yesterday at $17.63, 53% above that low price. The 200-day and 50-day moving averages have moved 0.18% lower and 2.11% higher over the past week, respectively.

Parkway Properties, Inc. is a self-administered real estate investment trust (REIT). The Company acquires, manages, finances and leases office properties in the southeastern United States and Texas.

There is potential upside of 6.6% for shares of Parkway Properties based on a current price of $17.63 and an average consensus analyst price target of $18.80. The stock should find initial support at its 200-day moving average (MA) of $15.56 and further support at its 50-day MA of $15.10.

SmarTrend is tracking the current trend status for Parkway Properties and will alert subscribers who have PKY in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades parkway properties

Ticker(s): PKY