BlackRock Group LTD reduced its stake in shares of Parkway Properties Inc. (NYSE:PKY) by 2.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 625,944 shares of the real estate investment trust’s stock after selling 17,576 shares during the period. BlackRock Group LTD owned approximately 1.25% of Parkway Properties worth $10,647,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of PKY. Vanguard Group Inc. increased its position in Parkway Properties by 2.4% in the second quarter. Vanguard Group Inc. now owns 12,960,757 shares of the real estate investment trust’s stock valued at $216,833,000 after buying an additional 298,410 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Parkway Properties by 9.4% in the third quarter. BlackRock Fund Advisors now owns 5,868,441 shares of the real estate investment trust’s stock valued at $99,822,000 after buying an additional 505,282 shares during the period. Shinko Asset Management Co. Ltd. boosted its stake in shares of Parkway Properties by 77.9% in the third quarter. Shinko Asset Management Co. Ltd. now owns 2,846,146 shares of the real estate investment trust’s stock valued at $48,413,000 after buying an additional 1,246,291 shares during the period. State Street Corp boosted its stake in shares of Parkway Properties by 1.7% in the second quarter. State Street Corp now owns 2,792,721 shares of the real estate investment trust’s stock valued at $46,722,000 after buying an additional 45,373 shares during the period. Finally, Deprince Race & Zollo Inc. boosted its stake in shares of Parkway Properties by 29.4% in the second quarter. Deprince Race & Zollo Inc. now owns 2,659,029 shares of the real estate investment trust’s stock valued at $44,486,000 after buying an additional 604,630 shares during the period. 97.65% of the stock is currently owned by institutional investors.
Parkway Properties Inc. (NYSE:PKY) traded down 0.351% during midday trading on Wednesday, reaching $21.315. The company’s stock had a trading volume of 24,806 shares. Parkway Properties Inc. has a 12 month low of $20.89 and a 12 month high of $22.42. The company has a market cap of $1.07 billion, a PE ratio of 59.539 and a beta of 1.20. The stock has a 50-day moving average price of $21.74 and a 200 day moving average price of $21.74.
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PKY has been the subject of several recent research reports. DA Davidson set a $18.00 price target on Parkway Properties and gave the company a “hold” rating in a research note on Thursday, October 6th. Stifel Nicolaus cut Parkway Properties from a “hold” rating to a “sell” rating and cut their price target for the company from $18.50 to $15.50 in a research note on Wednesday, September 28th. They noted that the move was a valuation call. JMP Securities initiated coverage on Parkway Properties in a research note on Tuesday, November 29th. They issued an “outperform” rating and a $22.00 price target for the company. Finally, Zacks Investment Research upgraded Parkway Properties from a “hold” rating to a “strong-buy” rating and set a $22.00 price target for the company in a research note on Wednesday, October 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.64.
Parkway Properties Company Profile
Parkway, Inc is a real estate investment trust (REIT). The Company has a portfolio of approximately five Class A office assets totaling over 8.7 million rentable square feet in the Galleria, Greenway and Westchase submarkets of Houston, Texas. The Company offers fee-based real estate services through its subsidiaries, which in total manages or leases approximately 2.7 million square feet primarily for third-party owners.
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