Parkway Properties (PKY) Trading With Heavy Volume Before Market Open

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Parkway Properties ( PKY) as a pre-market mover with heavy volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Parkway Properties as such a stock due to the following factors:

  • PKY has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $9.4 million.
  • PKY traded 111,275 shares today in the pre-market hours as of 9:03 AM, representing 23.7% of its average daily volume.

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More details on PKY:

Parkway Properties, Inc., a real estate investment trust (REIT), engages in the operation, acquisition, ownership, management, and leasing of office properties. It operates and invests principally in office properties in the southeastern and southwestern United States and Chicago. The stock currently has a dividend yield of 3.9%. Currently there are 6 analysts that rate Parkway Properties a buy, 1 analyst rates it a sell, and 4 rate it a hold.

The average volume for Parkway Properties has been 735,500 shares per day over the past 30 days. Parkway has a market cap of $2.1 billion and is part of the financial sector and real estate industry. The stock has a beta of 1.16 and a short float of 4.6% with 7.62 days to cover. Shares are up 0.3% year-to-date as of the close of trading on Tuesday.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Parkway Properties as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income and increase in stock price during the past year. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and poor profit margins.

Highlights from the ratings report include:
  • PKY's very impressive revenue growth greatly exceeded the industry average of 13.8%. Since the same quarter one year prior, revenues leaped by 56.5%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • PARKWAY PROPERTIES INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. This trend suggests that the performance of the business is improving. During the past fiscal year, PARKWAY PROPERTIES INC continued to lose money by earning -$0.58 versus -$1.57 in the prior year. This year, the market expects an improvement in earnings (-$0.09 versus -$0.58).
  • Compared to where it was 12 months ago, the stock is up, but it has so far lagged the appreciation in the S&P 500. Despite the fact that it has already risen in the past year, there is currently no conclusive evidence that warrants the purchase or sale of this stock.
  • The gross profit margin for PARKWAY PROPERTIES INC is currently extremely low, coming in at 8.56%. Regardless of PKY's low profit margin, it has managed to increase from the same period last year. Despite the mixed results of the gross profit margin, PKY's net profit margin of -0.41% significantly underperformed when compared to the industry average.
  • Net operating cash flow has decreased to $20.88 million or 39.37% when compared to the same quarter last year. In addition, when comparing the cash generation rate to the industry average, the firm's growth is significantly lower.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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