Municipal Employees Retirement System of Michigan continued to hold its stake in Parkway Properties Inc. (NYSE:PKY) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,626 shares of the real estate investment trust’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in Parkway Properties were worth $191,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in shares of Parkway Properties by 25.6% in the first quarter. Bank of New York Mellon Corp now owns 4,454,205 shares of the real estate investment trust’s stock worth $88,594,000 after buying an additional 908,794 shares during the period. Waterfront Capital Partners LLC increased its stake in shares of Parkway Properties by 64.3% in the first quarter. Waterfront Capital Partners LLC now owns 1,135,951 shares of the real estate investment trust’s stock worth $22,594,000 after buying an additional 444,357 shares during the period. Frontier Capital Management Co. LLC increased its stake in shares of Parkway Properties by 3.1% in the first quarter. Frontier Capital Management Co. LLC now owns 608,900 shares of the real estate investment trust’s stock worth $12,111,000 after buying an additional 18,309 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Parkway Properties by 209.7% in the first quarter. Russell Investments Group Ltd. now owns 559,033 shares of the real estate investment trust’s stock worth $11,122,000 after buying an additional 378,551 shares during the period. Finally, CORDA Investment Management LLC. acquired a new stake in shares of Parkway Properties during the first quarter worth about $10,597,000. Hedge funds and other institutional investors own 96.20% of the company’s stock.

Shares of Parkway Properties Inc. (NYSE PKY) traded down 0.22% on Monday, hitting $23.01. The stock had a trading volume of 75,832 shares. The stock’s market cap is $1.15 billion. Parkway Properties Inc. has a 12 month low of $16.39 and a 12 month high of $26.20. The company has a 50 day moving average price of $21.93 and a 200-day moving average price of $20.81.

Parkway Properties (NYSE:PKY) last posted its quarterly earnings results on Monday, May 8th. The real estate investment trust reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. The firm had revenue of $71.40 million for the quarter, compared to analyst estimates of $70.67 million. On average, equities research analysts anticipate that Parkway Properties Inc. will post ($0.60) earnings per share for the current year.

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A number of equities research analysts have weighed in on PKY shares. Zacks Investment Research upgraded Parkway Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, May 3rd. Stifel Nicolaus restated a “hold” rating and set a $23.00 price target on shares of Parkway Properties in a research 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 on the stock. in a research report on Thursday, July 6th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.14.

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.

Institutional Ownership by Quarter for Parkway Properties (NYSE:PKY)

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