Parkway Properties, Inc. (NYSE:PKY)

CAPS Rating: 3 out of 5

A self-administered and self-managed real estate investment trust specializing in the acquisition, operations, leasing and ownership of office properties.


Player Avatar TheGarcipian (32.93) Submitted: 7/23/2007 7:51:35 PM : Underperform Start Price: $44.06 PKY Score: +2.96

REITs are over-valued, as BfloBull's been telling us. This one in particular has a high trailing P/E of nearly 38, a very high PEG of 2.46, a marginally positive RoA (2.3%) and RoE (4%), only $8M in cash (on a revenue stream of $229M for the last 12 months), negative quarterly earnings growth (-75.4%), a Debt/Equity ratio of 182% but an Asset/Liability ratio of only 144% (there's a disconnect there!), and only a small percent of the stock (2.75%) is owned by insiders (not a great sign for such a small company). If the real estate market were in better shape across the USA, I might think again about this stock, but I don't see a whole lot of positives, at least for the next 9 months or so.

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