Cantor Fitzgerald Starts Parkway Properties (PKY) at Buy; Confidence In New, But Seasoned Management Team

Cantor Fitzgerald initiates coverage on Parkway Properties (NYSE: PKY) with a Buy. PT $12.00.

Analyst, Sri Nagarajan, said, "We have forecasted submarket level job growth within each of Parkway’s markets and have in turn calculated proprietary rent and vacancy forecasts. The key takeaways are that Parkway’s core markets are at a turning point in terms of vacancy levels, and many of the markets are also close to experiencing rental rate growth on a sequential basis. While we contend that Parkway’s occupancy growth will be gradual, we expect that rental rate roll downs will remain negative for several years."

For an analyst ratings summary and ratings history on Parkway Properties click here. For more ratings news on Parkway Properties click here.

Shares of Parkway Properties closed at $10.48 yesterday.

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