Parkway Properties Inc. (NYSE:PKY)’s share price traded down 0.1% during trading on Wednesday . The stock traded as low as $19.04 and last traded at $19.04. 2,899,275 shares changed hands during trading, an increase of 656% from the average session volume of 383,596 shares. The stock had previously closed at $19.05.
Several equities research analysts have recently weighed in on PKY shares. JMP Securities downgraded shares of Parkway Properties from an “outperform” rating to a “market perform” rating and set a $22.00 target price on the stock. in a research note on Thursday, July 6th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $23.00 price target on shares of Parkway Properties in a research note on Sunday, July 2nd.
The stock has a 50-day moving average of $23.01 and a 200 day moving average of $23.01. The firm’s market cap is $953.50 million.
The firm also recently declared a special dividend, which was paid on Tuesday, October 10th. Shareholders of record on Monday, October 9th were given a dividend of $4.00 per share. The ex-dividend date of this dividend was Wednesday, October 11th.
Hedge funds have recently made changes to their positions in the business. Bank of Montreal Can boosted its position in Parkway Properties by 310.0% during the 2nd quarter. Bank of Montreal Can now owns 4,604 shares of the real estate investment trust’s stock worth $105,000 after acquiring an additional 3,481 shares during the period. Pacad Investment Ltd. boosted its position in Parkway Properties by 128.1% during the 2nd quarter. Pacad Investment Ltd. now owns 5,164 shares of the real estate investment trust’s stock worth $118,000 after acquiring an additional 2,900 shares during the period. Pinebridge Investments L.P. boosted its position in Parkway Properties by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 5,629 shares of the real estate investment trust’s stock worth $129,000 after acquiring an additional 55 shares during the period. Dupont Capital Management Corp acquired a new position in Parkway Properties during the 2nd quarter worth $158,000. Finally, State of Alaska Department of Revenue boosted its position in Parkway Properties by 78.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 8,437 shares of the real estate investment trust’s stock worth $193,000 after acquiring an additional 3,717 shares during the period. Institutional investors own 97.11% of the company’s stock.
Parkway Properties Company Profile
Parkway, Inc is a self-managed real estate investment trust (REIT). The Company owns and operates office properties located in submarkets in Houston, Texas. As of December 31, 2016, the Company’s portfolio consisted of five Class A assets comprising 19 buildings and totaling approximately 8.7 million rentable square feet in the Greenway, Galleria and Westchase submarkets of Houston.
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