Insider Selling: Parkway Properties Director Sells 46,599 Shares of Stock (PKY)
Parkway Properties (NYSE:PKY) Director James A. Thomas unloaded 46,599 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $20.78, for a total value of $968,327.22. Following the transaction, the director now directly owns 649 shares of the company’s stock, valued at approximately $13,486. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
PKY has been the subject of a number of recent research reports. Analysts at Capital One Financial Corp. initiated coverage on shares of Parkway Properties in a research note on Tuesday. They set an “equal weight” rating on the stock. Separately, 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. Finally, 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $21.04.
Parkway Properties (NYSE:PKY) remained flat at $20.75 during trading on Wednesday. 209,785 shares of the company’s stock traded hands. Parkway Properties has a 1-year low of $15.98 and a 1-year high of $21.80. The stock’s 50-day moving average is $20.89 and its 200-day moving average is $19.63. The company’s market cap is $2.151 billion.
Parkway Properties (NYSE:PKY) last released its earnings data on Thursday, August 7th. The company reported $0.35 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.28 earnings per share. Parkway Properties’s revenue was up 52.1% compared to the same quarter last year. 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 3.61%. The ex-dividend date of this dividend is Monday, September 8th.
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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