Parkway Properties Inc. (NYSE:PKY) fell 3.2% during mid-day trading on Wednesday . The stock traded as low as $17.05 and last traded at $17.07, with a volume of 305,774 shares trading hands. The stock had previously closed at $17.64.

Several research firms recently issued reports on PKY. DA Davidson downgraded Parkway Properties from a “buy” rating to a “neutral” rating in a report on Friday, May 13th. Zacks Investment Research upgraded Parkway Properties from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Wednesday, July 13th. Sandler O’Neill downgraded Parkway Properties from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Finally, Mizuho downgraded Parkway Properties from a “buy” rating to a “neutral” rating and set a $17.50 price target on the stock. in a report on Monday, May 2nd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $17.63.

The firm has a market capitalization of $1.98 billion and a price-to-earnings ratio of 15.77. The stock has a 50-day moving average of $17.09 and a 200-day moving average of $15.51.

Parkway Properties (NYSE:PKY) last posted its quarterly earnings data on Thursday, May 5th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. The business had revenue of $111.10 million for the quarter, compared to analyst estimates of $108.45 million. Parkway Properties’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.34 EPS. Equities analysts predict that Parkway Properties Inc. will post $1.29 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd will be issued a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend is Friday, August 19th.

Other hedge funds and institutional investors have recently modified their holdings of the company. First Trust Advisors LP boosted its position in shares of Parkway Properties by 131.1% in the fourth quarter. First Trust Advisors LP now owns 68,560 shares of the real estate investment trust’s stock worth $1,072,000 after buying an additional 38,895 shares during the last quarter. Advantus Capital Management Inc purchased a new position in shares of Parkway Properties during the fourth quarter worth $1,990,000. Rhumbline Advisers boosted its position in shares of Parkway Properties by 5.1% in the fourth quarter. Rhumbline Advisers now owns 133,161 shares of the real estate investment trust’s stock worth $2,081,000 after buying an additional 6,475 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Parkway Properties by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 156,832 shares of the real estate investment trust’s stock worth $2,451,000 after buying an additional 2,455 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in shares of Parkway Properties by 9.3% in the fourth quarter. Mutual of America Capital Management LLC now owns 159,473 shares of the real estate investment trust’s stock worth $2,493,000 after buying an additional 13,624 shares during the last quarter.

Parkway Properties, Inc is an integrated real estate investment trust. The Company is engaged in the acquisition, ownership, development and management of office properties in various submarkets in the Sunbelt region of the United States. The Company holds interests in a portfolio of approximately 40 office properties located in over six states with an aggregate of approximately 14.3 million square feet of leasable space.

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