Parkway Properties Inc. (NYSE:PKY) shares dropped 2.2% during mid-day trading on Tuesday . The company traded as low as $17.34 and last traded at $17.39, with a volume of 314,545 shares trading hands. The stock had previously closed at $17.78.

PKY has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Parkway Properties from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Wednesday, July 13th. Raymond James Financial Inc. downgraded shares of Parkway Properties from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 31st. Citigroup Inc. downgraded shares of Parkway Properties from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 31st. Finally, Robert W. Baird downgraded shares of Parkway Properties from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $19.00 to $18.00 in a research report on Wednesday, August 17th. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Parkway Properties currently has a consensus rating of “Hold” and an average target price of $17.86.

The stock has a 50 day moving average of $17.47 and a 200-day moving average of $16.65. The stock has a market capitalization of $2.01 billion, a PE ratio of 18.50 and a beta of 1.41.

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Parkway Properties (NYSE:PKY) last issued its earnings results on Monday, August 8th. The real estate investment trust reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by $0.02. Parkway Properties had a return on equity of 6.36% and a net margin of 23.58%. The firm earned $107.51 million during the quarter, compared to the consensus estimate of $107.59 million. During the same quarter in the prior year, the business posted $0.33 EPS. The firm’s revenue for the quarter was down 15.3% on a year-over-year basis. Equities research analysts expect that Parkway Properties Inc. will post $1.28 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd were issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 4.32%. The ex-dividend date was Friday, August 19th. Parkway Properties’s dividend payout ratio is 81.52%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Shinko Asset Management Co. Ltd. boosted its stake in Parkway Properties by 19.8% in the second quarter. Shinko Asset Management Co. Ltd. now owns 1,599,855 shares of the real estate investment trust’s stock valued at $26,766,000 after buying an additional 264,055 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Parkway Properties by 3.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,296,260 shares of the real estate investment trust’s stock valued at $51,619,000 after buying an additional 118,902 shares during the period. OLD National Bancorp IN boosted its stake in Parkway Properties by 3.5% in the first quarter. OLD National Bancorp IN now owns 19,892 shares of the real estate investment trust’s stock valued at $312,000 after buying an additional 664 shares during the period. Frontier Capital Management Co. LLC boosted its stake in Parkway Properties by 17.8% in the second quarter. Frontier Capital Management Co. LLC now owns 2,193,683 shares of the real estate investment trust’s stock valued at $36,700,000 after buying an additional 331,549 shares during the period. Finally, Silvercrest Asset Management Group LLC boosted its stake in Parkway Properties by 112.3% in the first quarter. Silvercrest Asset Management Group LLC now owns 166,010 shares of the real estate investment trust’s stock valued at $2,600,000 after buying an additional 87,822 shares during the period. Hedge funds and other institutional investors own 98.30% of the company’s stock.

Parkway Properties Company Profile

Parkway Properties, Inc is an integrated real estate investment trust. The Company is engaged in the acquisition, ownership, development and management of office properties in various submarkets in the Sunbelt region of the United States. The Company holds interests in a portfolio of approximately 40 office properties located in over six states with an aggregate of approximately 14.3 million square feet of leasable space.

5 Day Chart for NYSE:PKY

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