Parkway Properties Inc. (PKY) Shares Sold by Nationwide Fund Advisors
Nationwide Fund Advisors cut its stake in shares of Parkway Properties Inc. (NYSE:PKY) by 2.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 120,498 shares of the real estate investment trust’s stock after selling 3,434 shares during the period. Nationwide Fund Advisors owned about 0.10% of Parkway Properties worth $2,016,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new stake in Parkway Properties during the second quarter valued at about $213,000. Nisa Investment Advisors LLC increased its stake in Parkway Properties by 3.1% in the second quarter. Nisa Investment Advisors LLC now owns 13,200 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 400 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in Parkway Properties during the second quarter valued at about $254,000. Mizuho Trust & Banking Co. Ltd. increased its stake in Parkway Properties by 2.9% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 15,841 shares of the real estate investment trust’s stock valued at $265,000 after buying an additional 443 shares in the last quarter. Finally, KBC Group NV increased its stake in Parkway Properties by 70.0% in the second quarter. KBC Group NV now owns 21,346 shares of the real estate investment trust’s stock valued at $357,000 after buying an additional 8,787 shares in the last quarter. Hedge funds and other institutional investors own 98.06% of the company’s stock.
Parkway Properties Inc. (NYSE:PKY) traded down 0.90% on Friday, hitting $18.80. The stock had a trading volume of 526,822 shares. The stock has a market cap of $2.18 billion, a P/E ratio of 20.02 and a beta of 1.32. The company’s 50-day moving average is $17.81 and its 200-day moving average is $17.00. Parkway Properties Inc. has a one year low of $11.54 and a one year high of $23.20.
Parkway Properties (NYSE:PKY) last issued its earnings results on Monday, August 8th. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.31 by $0.02. The firm earned $107.51 million during the quarter, compared to analysts’ expectations of $107.59 million. Parkway Properties had a return on equity of 6.36% and a net margin of 23.58%. The company’s quarterly revenue was down 15.3% compared to the same quarter last year. During the same period last year, the business posted $0.33 earnings per share. On average, analysts anticipate that Parkway Properties Inc. will post $1.29 earnings per share for the current fiscal year.
PKY has been the topic of several research analyst reports. Zacks Investment Research upgraded Parkway Properties from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Wednesday, July 13th. DA Davidson set a $18.00 price objective on Parkway Properties and gave the company a “hold” rating in a report on Thursday, October 6th. Raymond James Financial Inc. cut Parkway Properties from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 31st. Citigroup Inc. cut Parkway Properties from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 31st. Finally, Robert W. Baird cut Parkway Properties from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $19.00 to $18.00 in a research note on Wednesday, August 17th. One analyst has rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $17.83.
Parkway Properties Company Profile
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.
Want to see what other hedge funds are holding PKY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parkway Properties Inc. (NYSE:PKY).
Receive News & Ratings for Parkway Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parkway Properties Inc. and related companies with MarketBeat.com's FREE daily email newsletter.