Yes for the stress, no for the "ee": it is actually a two-sillable word. See my post above.It's pronounced pee-eh-TAH.
[Regarding the exact value for the "e" (I mean the "e" in "pietà", not "piezo"), it tends to be a close-mid vowel (not unlike long A in North American English apart from the offglide, hence my mention of Scottish English), except in some local accents, mine included, where it is indeed open, and more similar to English short E (Aussie accent excluded).]