Parkway Properties Inc (PKY) Releases Earnings Results, Beats Expectations By $0.03 EPS

Parkway Properties Inc (PKY) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $0.34 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.31. The company posted revenue of $111.10 million in the period, compared to analysts expectations of $106.93 million. The company’s revenue was down -7.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS.

Many Wall Street Analysts have commented on Parkway Properties Inc. Mizuho Downgraded Parkway Properties Inc on May 2, 2016 to ” Neutral”, Price Target of the shares are set at $17.50.Parkway Properties Inc was Downgraded by Sandler O’Neill to ” Hold” on May 2, 2016. Company shares were Reiterated by Barclays on Mar 11, 2016 to “Overweight”, Firm has raised the Price Target to $ 16 from a previous price target of $15 .

Parkway Properties Inc closed down -0.18 points or -1.05% at $16.93 with 17,08,812 shares getting traded on Wednesday. Post opening the session at $17.1, the shares hit an intraday low of $16.93 and an intraday high of $17.22 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Dec 4, 2015, David R. O’reilly (EVP & CHIEF FINANCIAL OFFICER) sold 80,000 shares at $16.79 per share price. According to the SEC, on Dec 4, 2015, M. Jayson Lipsey (EVP, CHIEF OPERATING OFFICER) sold 16,500 shares at $16.71 per share price. On Mar 2, 2015, Edward Manuel Casal (director) purchased 1,000 shares at $17.76 per share price, according to the Form-4 filing with the securities and exchange commission.

Parkway Properties Inc. (Parkway) is an integrated self-administered and self-managed real estate investment trust (REIT). The Company is engaged in the acquisition ownership and management of office and parking properties in high-growth submarkets in the Sunbelt region of the United States. The Company offers fee-based real estate services through wholly owned subsidiaries which in total managed and/or leased approximately six million square feet for third-party property owners. The Company serves as the general partner of Fund II and provides asset management property management leasing and construction management services to the fund. Fund II owns seven properties totaling approximately 2.5 million square feet in Atlanta Georgia; Phoenix Arizona; Jacksonville Florida and Philadelphia Pennsylvania.

Parkway Properties Inc

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