CNH Partners LLC Has $11.23 Million Stake in Parkway Properties Inc. (PKY)
CNH Partners LLC grew its position in Parkway Properties Inc. (NYSE:PKY) by 3,954.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 490,522 shares of the real estate investment trust’s stock after purchasing an additional 478,424 shares during the quarter. CNH Partners LLC owned approximately 0.98% of Parkway Properties worth $11,228,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of Montreal Can raised its holdings in shares of Parkway Properties by 310.0% in the 2nd quarter. Bank of Montreal Can now owns 4,604 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 3,481 shares in the last quarter. Pacad Investment Ltd. raised its holdings in shares of Parkway Properties by 128.1% in the 2nd quarter. Pacad Investment Ltd. now owns 5,164 shares of the real estate investment trust’s stock valued at $118,000 after purchasing an additional 2,900 shares in the last quarter. Vivaldi Capital Management LLC acquired a new stake in shares of Parkway Properties in the 2nd quarter valued at $122,759,000. Pinebridge Investments L.P. raised its holdings in shares of Parkway Properties by 1.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 5,629 shares of the real estate investment trust’s stock valued at $129,000 after purchasing an additional 55 shares in the last quarter. Finally, Dupont Capital Management Corp acquired a new stake in shares of Parkway Properties in the 2nd quarter valued at $158,000. Institutional investors and hedge funds own 97.11% of the company’s stock.
PKY has been the topic of several research analyst reports. Stifel Nicolaus reiterated a “hold” rating and set a $23.00 price target on shares of Parkway Properties in a research note on Sunday, July 2nd. JMP Securities lowered shares of Parkway Properties from an “outperform” rating to a “market perform” rating and set a $22.00 price target on the stock. in a research note on Thursday, July 6th.
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Shares of Parkway Properties Inc. (NYSE PKY) traded down 0.04% during midday trading on Friday, reaching $23.03. 396,590 shares of the company traded hands. The company has a 50 day moving average of $23.01 and a 200 day moving average of $23.01. The firm’s market capitalization is $1.15 billion. Parkway Properties Inc. has a 12 month low of $20.13 and a 12 month high of $23.17.
The business also recently disclosed a special dividend, which will be paid on Tuesday, October 10th. Shareholders of record on Monday, October 9th will be paid a dividend of $4.00 per share. The ex-dividend date of this dividend is Wednesday, October 11th.
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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