Parkway Properties Inc. (PKY) Shares Bought by IndexIQ Advisors LLC
IndexIQ Advisors LLC boosted its position in Parkway Properties Inc. (NYSE:PKY) by 14.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,299 shares of the real estate investment trust’s stock after buying an additional 6,421 shares during the period. IndexIQ Advisors LLC owned 0.11% of Parkway Properties worth $1,197,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PKY. CORDA Investment Management LLC. purchased a new position in Parkway Properties during the first quarter worth approximately $10,597,000. Bank of New York Mellon Corp increased its position in 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 in the last quarter. Macquarie Group Ltd. increased its position in Parkway Properties by 127.9% in the fourth quarter. Macquarie Group Ltd. now owns 42,494 shares of the real estate investment trust’s stock worth $946,000 after buying an additional 23,852 shares in the last quarter. Prudential Financial Inc. increased its position in Parkway Properties by 4.4% in the first quarter. Prudential Financial Inc. now owns 110,568 shares of the real estate investment trust’s stock worth $2,199,000 after buying an additional 4,635 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Parkway Properties by 1.3% in the first quarter. Vanguard Group Inc. now owns 6,991,103 shares of the real estate investment trust’s stock worth $139,052,000 after buying an additional 90,557 shares in the last quarter. 97.26% of the stock is currently owned by institutional investors.
Shares of Parkway Properties Inc. (NYSE PKY) opened at 22.97 on Thursday. The firm’s market capitalization is $1.15 billion. The stock’s 50 day moving average price is $22.93 and its 200-day moving average price is $20.99. Parkway Properties Inc. has a 12 month low of $16.39 and a 12 month high of $26.20.
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A number of research analysts have commented on PKY shares. Stifel Nicolaus reaffirmed a “hold” rating and set a $23.00 target price on shares of Parkway Properties in a report on Sunday, July 2nd. Zacks Investment Research raised Parkway Properties from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. Finally, JMP Securities downgraded Parkway Properties from an “outperform” rating to a “market perform” rating and set a $22.00 target price on the stock. in a report on Thursday, July 6th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Parkway Properties presently has a consensus rating of “Hold” and an average target price of $21.67.
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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