Parkway Properties Inc. (PKY) Shares Gap Down to $19.04

Parkway Properties Inc. (NYSE:PKY) shares gapped down before the market opened on Thursday . The stock had previously closed at $19.03, but opened at $19.04. Parkway Properties shares last traded at $19.04, with a volume of 0 shares.

PKY has been the topic of several research reports. Stifel Nicolaus restated a “hold” rating and set a $23.00 price objective on shares of Parkway Properties in a report on Sunday, July 2nd. JMP Securities downgraded shares of Parkway Properties from an “outperform” rating to a “market perform” rating and set a $22.00 price objective on the stock. in a report on Thursday, July 6th.

The firm’s market cap is $953.50 million. The firm has a 50-day moving average of $22.85 and a 200-day moving average of $22.85.

The company also recently disclosed a special dividend, which was paid on Tuesday, October 10th. Shareholders of record on Monday, October 9th were given a dividend of $4.00 per share. The ex-dividend date of this dividend was Wednesday, October 11th.

A number of institutional investors have recently made changes to their positions in PKY. First Trust Advisors LP purchased a new position in Parkway Properties during the first quarter valued at $283,000. Comerica Bank raised its position in shares of Parkway Properties by 4.2% in the 1st quarter. Comerica Bank now owns 47,169 shares of the real estate investment trust’s stock worth $956,000 after purchasing an additional 1,912 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Parkway Properties by 45.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 68,131 shares of the real estate investment trust’s stock worth $1,355,000 after purchasing an additional 21,445 shares during the last quarter. Karp Capital Management Corp purchased a new position in shares of Parkway Properties in the 1st quarter worth about $256,000. Finally, Ameriprise Financial Inc. raised its position in shares of Parkway Properties by 17.0% in the 1st quarter. Ameriprise Financial Inc. now owns 404,166 shares of the real estate investment trust’s stock worth $8,039,000 after purchasing an additional 58,628 shares during the last quarter. 97.11% of the stock is owned by institutional investors and hedge funds.

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About Parkway Properties

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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