Parkway Properties Director Sells $56,079 in Stock (PKY)
Parkway Properties (NYSE:PKY) Director James A. Thomas unloaded 2,700 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $20.77, for a total transaction of $56,079.00. Following the transaction, the director now directly owns 649 shares of the company’s stock, valued at approximately $13,480. The sale was disclosed in a filing with the SEC, which is available at this link.
Parkway Properties (NYSE:PKY) traded up 0.34% during mid-day trading on Friday, hitting $20.75. The stock had a trading volume of 196,752 shares. Parkway Properties has a one year low of $15.95 and a one year high of $21.80. The stock’s 50-day moving average is $20.92 and its 200-day moving average is $19.54. The company’s market cap is $2.151 billion.
Parkway Properties (NYSE:PKY) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.02. The company had revenue of $110.46 million for the quarter, compared to the consensus estimate of $105.32 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 52.1% on a year-over-year basis. Analysts expect that Parkway Properties will post $1.40 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 24th. Shareholders of record on Wednesday, September 10th will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend is Monday, September 8th.
PKY has been the subject of a number of recent research reports. Analysts at Raymond James reiterated an “outperform” rating on shares of Parkway Properties in a research note on Monday, August 18th. They now have a $21.00 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of Parkway Properties from $21.00 to $24.00 in a research note on Thursday, August 14th. Finally, analysts at Zacks downgraded shares of Parkway Properties from an “outperform” rating to a “neutral” rating in a research note on Thursday, July 31st. They now have a $23.40 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $21.04.
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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