Russell Investments Group Ltd. Has $11.13 Million Position in Parkway Properties Inc. (NYSE:PKY)
Russell Investments Group Ltd. lowered its stake in shares of Parkway Properties Inc. (NYSE:PKY) by 11.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 492,672 shares of the real estate investment trust’s stock after selling 66,361 shares during the period. Russell Investments Group Ltd.’s holdings in Parkway Properties were worth $11,131,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of Parkway Properties during the fourth quarter valued at approximately $9,982,000. Macquarie Group Ltd. raised its stake in shares of Parkway Properties by 127.9% in the fourth quarter. Macquarie Group Ltd. now owns 42,494 shares of the real estate investment trust’s stock valued at $946,000 after buying an additional 23,852 shares in the last quarter. Honkamp Krueger Financial Services Inc. acquired a new stake in shares of Parkway Properties during the first quarter valued at approximately $199,000. Louisiana State Employees Retirement System raised its stake in shares of Parkway Properties by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 17,449 shares of the real estate investment trust’s stock valued at $347,000 after buying an additional 300 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of Parkway Properties by 1,122.3% in the first quarter. ProShare Advisors LLC now owns 232,613 shares of the real estate investment trust’s stock valued at $348,000 after buying an additional 213,583 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.
Shares of Parkway Properties Inc. (NYSE PKY) traded up 0.04% during trading on Monday, reaching $22.98. The company had a trading volume of 160,677 shares. The firm’s market capitalization is $1.15 billion. Parkway Properties Inc. has a 1-year low of $16.39 and a 1-year high of $26.20. The firm has a 50-day moving average of $22.56 and a 200 day moving average of $20.88.
PKY has been the subject of several analyst reports. Zacks Investment Research upgraded Parkway Properties from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. Stifel Nicolaus reiterated a “hold” rating and set a $23.00 price objective on shares of Parkway Properties in a report on Sunday, July 2nd. Finally, JMP Securities lowered Parkway Properties from an “outperform” rating to a “market perform” rating and set a $22.00 price objective for the company. in a report on Thursday, July 6th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $21.14.
About Parkway Properties
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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