Parkway, Inc. (NYSE:PKY):
Parkway Announces Short-Term Renewal With Apache Corporation At Post Oak Central.
The company is unchanged since yesterday’s close of $19.9.
Parkway, Inc. also announced a dividend for shareholders that will be paid on Friday June 30th, 2017. The dividend payment will be $0.100 per share for the quarter or $0.40 annualized. This dividend represents a yeild of $2.01 which is the dividend as a percentage of the current share price. The ex-dividend date will be on Tuesday the 14th of March 2017.
Parkway, Inc., launched on June 3, 2016, 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 Business’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. In addition, the Company operates a fee-based real estate service (the Third-Party Services Business) through a subsidiary, Eola Office Partners, LLC and its subsidiaries (collectively, Eola), which in total managed approximately 3.8 million square feet (unaudited) for primarily third-party owners, as of December 31, 2016..
Shares are trading at $19.90 a tad under $20.00, the 50 day moving average and which is just a bit below the 200 day moving average of $20.52. The 50 day moving average moved down $-0.10 and the 200 day average was down $-0.62.
As of the latest earnings report the EPS was $-0.42 and is projected to be $-0.60 for the current year with 50,053,000 shares presently outstanding. Analysts expect next quarter’s EPS to be $-0.06 with next year’s EPS anticipated to be $-0.28.
Several investment firms have issued ratings on Parkway, Inc. recently. On November 29 the company was upgraded from “” to “Market Outperform” and a price target of $22.00 was set in a report issued by JMP Securities. On September 29 the stock rating was downgraded to “Sell” from “Hold” in a report from Stifel Nicolaus.
On August 31, 2016 the stock rating was rated “Market Perform” in a report from Raymond James which was a cut from the previous “Outperform” rating. On August 17 the company was set at “Neutral” by Baird down from the previous “Outperform” rating.
July 19 investment analysts at Barclays kept the stock rating at “Overweight” but raised the price expectation to $18.00 from $16.00. On May 13, 2016 the stock rating was changed to a “Neutral” according to a DA Davidson report which is down from the previous “” rating.