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UPDATE: Cantor Fitzgerald Downgrades Parkway Properties to Sell on Valuation

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Cantor Fitzgerald downgraded Parkway Properties (NYSE: PKY) from Hold to Sell and raised the price target from $14.00 to $15.00.

Cantor Fitzgerald noted, "The stock has significantly outperformed year to date, returning 13% compared to 5% among office REITs and 4% for REITs overall (as well as 51% of outperformance over the prior 12 months). PKY continues to take significant strides in improving both the portfolio and balance sheet. The recent run in the stock is over-done, in our view, and is likely the result of the aforementioned improvements, coupled with the ongoing "beta rally.""

Parkway Properties closed at $15.82 on Wednesday.

Latest Ratings for PKY

DateFirmActionFromTo
Dec 2014Stifel NicolausDowngradesBuyHold
Sep 2014Wells FargoUpgradesMarket PerformOutperform
Sep 2014Capital One FinancialInitiates Coverage onEqual-weight

View More Analyst Ratings for PKY
View the Latest Analyst Ratings

Posted-In: Cantor FitzgeraldAnalyst Color Downgrades Intraday Update Analyst Ratings

 

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