Parkway Properties Inc (PKY) is Downgraded by Robert W. Baird to Neutral, Lowers Price Target to $ 18

Parkway Properties Inc (PKY) was Downgraded by Robert W. Baird to ” Neutral” while Lowering the Price Target of the company shares to $ 18 from a previous price target of $19 . Earlier the firm had a rating of “Outperform ” on the company shares. Robert W. Baird advised their investors in a research report released on Aug 17, 2016.

On the company’s financial health, Parkway Properties Inc reported $0.29 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Aug 8, 2016. Analyst had a consensus of $0.31. The company had revenue of $107.51 million for the quarter, compared to analysts expectations of $107.83 million. The company’s revenue was down -15.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.33 EPS.

Parkway Properties Inc opened for trading at $17.24 and hit $17.44 on the upside on Monday, eventually ending the session at $17.36, with a gain of 0.81% or 0.14 points. The heightened volatility saw the trading volume jump to 4,47,481 shares. Company has a market cap of $2,013 M.

Investors should note that on Jul 7, 2016, Parkway Properties Inc announced a cash dividend of $0.1875. The company’s management has announced Aug 19, 2016 as the ex-dividend date and fixed the record date on Aug 23, 2016. The payable date has been fixed on Sep 6, 2016.

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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