S. Muoio & CO. LLC bought a new stake in Parkway Properties Inc. (NYSE:PKY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,000 shares of the real estate investment trust’s stock, valued at approximately $458,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in PKY. Dupont Capital Management Corp bought a new position in shares of Parkway Properties during the second quarter valued at about $158,000. First Trust Advisors LP increased its stake in shares of Parkway Properties by 133.9% in the second quarter. First Trust Advisors LP now owns 33,285 shares of the real estate investment trust’s stock worth $762,000 after buying an additional 19,057 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Parkway Properties by 0.5% in the second quarter. Arizona State Retirement System now owns 22,315 shares of the real estate investment trust’s stock worth $511,000 after buying an additional 100 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Parkway Properties by 8.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 419,580 shares of the real estate investment trust’s stock worth $9,605,000 after buying an additional 31,190 shares during the last quarter. Finally, Texas Permanent School Fund increased its stake in shares of Parkway Properties by 0.8% in the second quarter. Texas Permanent School Fund now owns 31,195 shares of the real estate investment trust’s stock worth $714,000 after buying an additional 260 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.
Shares of Parkway Properties Inc. (NYSE PKY) opened at 22.96 on Wednesday. The firm’s market capitalization is $1.15 billion. Parkway Properties Inc. has a one year low of $16.39 and a one year high of $26.20. The firm’s 50-day moving average price is $22.70 and its 200-day moving average price is $20.89.
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A number of analysts have weighed in on PKY shares. Zacks Investment Research upgraded Parkway Properties from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. Stifel Nicolaus reiterated a “hold” rating and set a $23.00 price target on shares of Parkway Properties in a report on Sunday, July 2nd. Finally, JMP Securities downgraded Parkway Properties from an “outperform” rating to a “market perform” rating and set a $22.00 price target for the company. in a report on Thursday, July 6th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $21.14.
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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