• Tue, Jan. 17, 9:30 AM
    • Stifel's John Guinee throws in the towel on his Sell rating, citing positive catalysts like the OPEC production cut deal, which should lead to new rig deployments by energy companies, which should be of benefit to Parkway's (NYSE:PKY) Houston office properties.
    • Source: TheFly
    • Guinee had started Parkway with a Sell rating in October after its spin from the Cousins/Parkway merger. The price was $18.67 then. Today, he upgrades to Hold with price target of $22.
    • Parkway closed on Friday at $21.79.
    Tue, Jan. 17, 9:30 AM
  • Oct. 18, 2016, 8:06 AM
    • The Houston office market is a long way from the bottom, says Stifel analyst John Guinee, starting Parkway Properties (NYSE:PKY) with a Sell rating and $17 price target.
    • The stock closed at $18.67 yesterday.
    • Parkway Properties is the Houston office portfolio spun out of the merger of Cousins Properties (NYSE:CUZ) and the what's now the old Parkway Properties.
    Oct. 18, 2016, 8:06 AM
  • Oct. 7, 2016, 1:01 PM
    Oct. 7, 2016, 1:01 PM
  • Oct. 7, 2016, 12:47 PM
    Oct. 7, 2016, 12:47 PM
  • Oct. 6, 2016, 9:47 AM
    • The combined company now trades under the Cousins symbol of CUZ, with Parkway (NYSE:PKY) owners receiving 1.63 shares of CUZ for each share of PKY they hold.
    • The spinoff of the Houston-based assets of the combined company into New Parkway (PKY) is set to be completed tomorrow, with a special stock dividend to all CUZ shareholders paid prior to the market open.
    Oct. 6, 2016, 9:47 AM
  • Oct. 5, 2016, 3:15 PM
    • By dint of its soon-to-close merger with Parkway Properties (NYSE:PKY), Cousins Properties (NYSE:CUZ) will gain entry into the S&P MidCap 400 as of the close today. It will also have a classification change to Office REIT following the purchase.
    • Ranked near the bottom of the S&P MidCap 400, Community Health Systems (NYSE:CYH) will be pushed out of the index as that company's market cap is more inline with that of a small-cap stock.
    Oct. 5, 2016, 3:15 PM | 3 Comments
  • Sep. 29, 2016, 10:10 AM
    • The merger with Parkway Properties (NYSE:PKY) is set to close on Oct. 6, with the spinoff of the Houston-based assets of the two companies to take place alongside.
    • Stifel today downgrades Cousins (NYSE:CUZ) to Sell, with PT cut to $9.50 from $11.50.
    • CUZ is lower by 3.05% to $10.46, and PKY by 2.45%.
    Sep. 29, 2016, 10:10 AM | 1 Comment
  • Sep. 27, 2016, 4:32 PM
    • Along with the merger of Cousins Properties (NYSE:CUZ) and Parkway Properties (NYSE:PKY) will be the spinoff of the Houston-based assets of the two. The record date for the spin of New Parkway will be Oct. 6, and distribution date will be the next day.
    • The spin will be accomplished via a pro rata dividend of one share of New Parkway for every eight shares of Cousins.
    Sep. 27, 2016, 4:32 PM
  • Aug. 17, 2016, 7:29 AM
    • Prologis (NYSE:PLD), Cousins Properties (NYSE:CUZ), Parkway Properties (NYSE:PKY), and Washington REIT (NYSE:WRE) are all downgraded to Neutral from Outperform.
    • The group is up between 10% and 25% for the year, and between 27% and 45% from the February lows, so they're sporting fancier valuations with the chance of rate hike(s) looming.
    Aug. 17, 2016, 7:29 AM | 2 Comments
  • Aug. 8, 2016, 4:20 PM
    • Parkway Properties (NYSE:PKY): Q2 FFO of $0.34 beats by $0.03.
    • Income from office properties of $106.25M (-7.0% Y/Y) misses by $2.54M.
    • Press Release
    Aug. 8, 2016, 4:20 PM
  • Aug. 7, 2016, 5:35 PM
  • Jul. 7, 2016, 4:19 PM
    • Parkway Properties Inc. (NYSE:PKY) declares $0.1875/share quarterly dividend, in line with previous.
    • Forward yield 4.59%
    • Payable Sept. 6; for shareholders of record Aug. 23; ex-div Aug. 19.
    Jul. 7, 2016, 4:19 PM
  • May 19, 2016, 4:45 PM
    • Parkway Properties Inc. (NYSE:PKY) declares $0.1875/share quarterly dividend, in line with previous.
    • Forward yield 4.45%
    • Payable June 29; for shareholders of record June 15; ex-div June 13.
    May 19, 2016, 4:45 PM
  • May 5, 2016, 4:33 PM
    • Parkway Properties (NYSE:PKY): Q1 FFO of $0.34 beats by $0.03.
    • Revenue of $109.63M (-6.2% Y/Y) beats by $1.81M.
    May 5, 2016, 4:33 PM
  • Apr. 29, 2016, 10:55 AM
    • The deal allows investors in Parkway Properties (PKY +9.8%) and Cousins Properties (CUZ flat) to continue to be owners of Sun Belt office properties, but without exposure to energy-exposed Houston.
    • Of Cousins' $237M in annual NOI, Houston is responsible for 45%. Of Parkway's $242M, Houston is responsible for 29%. All Houston properties will be spun off into a new publicly traded REIT with $177M of annual NOI.
    • Dropping Houston, the merged company will operate in seven markets, with Atlanta accounting for 49% of square footage. Next up is Charlotte at 16%, then Austin at 12%. Other markets are Tampa, Orlando, Phoenix, and Miami.
    • Presentation slides
    • Previously: Cousins Properties and Parkway Properties to merge, spin-off Houston assets (April 29)
    Apr. 29, 2016, 10:55 AM
  • Apr. 29, 2016, 7:36 AM
    • Parkway Property (NYSE:PKY) owners will receive 1.63 shares of Cousins (NYSE:CUZ) stock for each share of Parkway they own, and will own about 48% of the combined company.
    • Immediately after the merger, the combined entity will spin-off the Houston-based assets of each company into a new publicly-traded REIT. The Houston company will begin operations with five Class A office properties - allowing investors a pure-play bet on an energy recovery. It will be led by Parkway CEO Jim Heistand.
    • Back to the merger: Annual net G&A savings are expected to be about $18M, but FFO per share neutral in 2017. The deals are expected to close in Q4.
    Apr. 29, 2016, 7:36 AM