Shares of Parkway Properties (PKY) Sees Large Outflow of Money

Parkway Properties (PKY) : The money flow is calculated as the dollar value of composite uptick trades minus the dollar value of downtick trades, which was negative (2.03 million) in Parkway Properties (PKY). On Tuesday, The value of composite uptick trades was $0.83 million, whereas, the value of composite downtick trades was $2.86 million and the ratio between the two was 0.29, indicating selling on strength. Traders involved in block trades booked profits in their holdings as seen in the transactions on downticks valued at $1.7 million. The negative money flow of ($1.7 million) shows selling on strength. Parkway Properties (PKY) gained $0.05 intraday at $17.75 and registrered 0.25% for the week.


Also, Equity Analysts at the Brokerage Firm, Baird, downgrades their rating on the shares of Parkway Properties (NYSE:PKY). Baird has a Neutral rating on the shares. Previously, the analysts had a Outperform rating on the shares. The rating by the firm was issued on August 17, 2016.

Shares of Parkway Properties Inc. rose by 2.65% in the last five trading days and 5.67% for the last 4 weeks. Parkway Properties Inc. is up 3.52% in the last 3-month period. Year-to-Date the stock performance stands at 17.81%.

Parkway Properties (NYSE:PKY): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $17.74 and $17.56 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $17.83. The buying momentum continued till the end and the stock did not give up its gains. It closed at $17.79, notching a gain of 0.51% for the day. The total traded volume was 709,332 . The stock had closed at $17.70 on the previous day.

In a related news, OReilly David R., officer (EVP & CHIEF FINANCIAL OFFICER) of Parkway Properties Inc, unloaded 80,000 shares at an average price of $16.79 on December 3, 2015. The total amount of the transaction was worth $1,343,200, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

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.

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