BNP Paribas Arbitrage SA increased its stake in Parkway Properties Inc. (NYSE:PKY) by 11.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,778 shares of the real estate investment trust’s stock after purchasing an additional 2,838 shares during the quarter. BNP Paribas Arbitrage SA owned approximately 0.05% of Parkway Properties worth $613,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of PKY. BlackRock Inc. raised its holdings in shares of Parkway Properties by 9,309.9% in the 1st quarter. BlackRock Inc. now owns 6,478,241 shares of the real estate investment trust’s stock worth $128,853,000 after purchasing an additional 6,409,396 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Parkway Properties by 25.6% in the 1st 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 purchasing an additional 908,794 shares during the period. KRV Capital LP bought a new stake in shares of Parkway Properties in the 1st quarter worth approximately $12,929,000. Land & Buildings Investment Management LLC raised its holdings in shares of Parkway Properties by 91.7% in the 1st quarter. Land & Buildings Investment Management LLC now owns 1,288,426 shares of the real estate investment trust’s stock worth $25,627,000 after purchasing an additional 616,401 shares during the period. Finally, CORDA Investment Management LLC. bought a new stake in shares of Parkway Properties in the 1st quarter worth approximately $10,597,000. 97.26% of the stock is currently owned by institutional investors.
PKY has been the topic of a number of analyst reports. JMP Securities cut shares of 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. Stifel Nicolaus reissued a “hold” rating and set a $23.00 target price on shares of Parkway Properties in a report on Sunday, July 2nd. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Parkway Properties presently has a consensus rating of “Hold” and an average target price of $21.67.
Shares of Parkway Properties Inc. (PKY) opened at 22.96 on Wednesday. Parkway Properties Inc. has a one year low of $20.13 and a one year high of $23.17. The firm’s 50-day moving average is $22.95 and its 200-day moving average is $21.23. The company’s market cap is $1.15 billion.
Parkway Properties 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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