Parkway Inc (PKY) Shares Sold by State Street Corp

State Street Corp decreased its stake in Parkway Inc (NYSE:PKY) by 46.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,579,745 shares of the real estate investment trust’s stock after selling 1,396,457 shares during the period. State Street Corp owned 3.16% of Parkway worth $35,147,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PKY. Mizuho Trust & Banking Co. Ltd. increased its stake in Parkway by 28.2% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 20,306 shares of the real estate investment trust’s stock valued at $345,000 after buying an additional 4,465 shares during the last quarter. KBC Group NV increased its stake in Parkway by 38.9% in the third quarter. KBC Group NV now owns 29,660 shares of the real estate investment trust’s stock valued at $505,000 after buying an additional 8,314 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Parkway by 1.0% in the third quarter. Municipal Employees Retirement System of Michigan now owns 31,800 shares of the real estate investment trust’s stock valued at $541,000 after buying an additional 300 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Parkway by 1.1% in the third quarter. Louisiana State Employees Retirement System now owns 36,500 shares of the real estate investment trust’s stock valued at $621,000 after buying an additional 400 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in Parkway by 1.2% in the third quarter. Arizona State Retirement System now owns 42,815 shares of the real estate investment trust’s stock valued at $728,000 after buying an additional 500 shares during the last quarter. 97.65% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Parkway (NYSE:PKY)

Parkway Inc (NYSE:PKY) traded down 0.78% on Friday, reaching $20.23. The company’s stock had a trading volume of 68,658 shares. The stock’s 50 day moving average price is $19.85 and its 200 day moving average price is $20.77. Parkway Inc has a 52-week low of $16.39 and a 52-week high of $26.20. The firm’s market cap is $1.01 billion.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 30th. Investors of record on Thursday, March 16th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, March 14th. This represents a $0.40 annualized dividend and a yield of 1.96%. Parkway’s payout ratio is 60.87%.

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Several equities research analysts have issued reports on PKY shares. Mizuho reaffirmed a “neutral” rating and set a $20.00 price target on shares of Parkway in a report on Monday, March 27th. Stifel Nicolaus raised Parkway from a “sell” rating to a “hold” rating and lifted their target price for the stock from $17.00 to $22.00 in a report on Tuesday, January 17th. Capital One Financial Corp. raised Parkway from an “equal weight” rating to an “overweight” rating and set a $25.00 target price for the company in a report on Tuesday, February 21st. Finally, Zacks Investment Research cut Parkway from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 19th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $21.00.

About Parkway

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.

5 Day Chart for NYSE:PKY

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