Parkway Properties EVP Henry F. Pratt III Sells 5,983 Shares (PKY)
Parkway Properties (NYSE:PKY) EVP Henry F. Pratt III sold 5,983 shares of the stock on the open market in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $20.94, for a total transaction of $125,284.02. Following the completion of the sale, the executive vice president now directly owns 178,426 shares of the company’s stock, valued at approximately $3,736,240. The sale was disclosed in a filing with the SEC, which is available at this link.
Parkway Properties (NYSE:PKY) traded up 0.63% during mid-day trading on Friday, hitting $20.84. The stock had a trading volume of 265,260 shares. Parkway Properties has a 1-year low of $15.95 and a 1-year high of $21.38. The stock has a 50-day moving average of $20.06 and a 200-day moving average of $18.65. The company’s market cap is $2.153 billion.
Parkway Properties (NYSE:PKY) last announced its earnings results on Monday, May 12th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. The company had revenue of $104.11 million for the quarter, compared to the consensus estimate of $101.57 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 52.7% on a year-over-year basis. On average, analysts predict that Parkway Properties will post $1.38 earnings per share for the current fiscal year.
A number of research firms have recently commented on PKY. Analysts at Zacks upgraded shares of Parkway Properties from a “neutral” rating to an “outperform” rating in a research note on Tuesday, June 3rd. They now have a $21.30 price target on the stock. Separately, analysts at Citigroup Inc. reiterated a “sell” rating on shares of Parkway Properties in a research note on Friday, May 23rd. They now have a $17.00 price target on the stock, up previously from $15.00. Finally, analysts at RBC Capital raised their price target on shares of Parkway Properties from $20.00 to $21.00 in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $20.37.
Parkway Properties, Inc (NYSE:PKY), is a self-administered real estate investment trust (REIT) specializing in the ownership of office properties in higher growth submarkets in the Sunbelt region of the United States.
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