Mon, Feb. 23, 10:03 AM
Mon, Feb. 9, 4:30 PM
- Q4 recurring FFO of $42.1M or $0.36 per share vs. $22.8M and $0.31 one year ago. FAD of $14.4M or $0.12 per share vs. $12.5M and $0.17 one year ago. Dividend of $0.1875.
- Occupancy of 89.2% up 10 bps from Q3; portfolio 91.0% leased flat from Q3.
- 2015 recurring FFO per share guidance of $1.32-$1.42 vs. $1.47 in 2014.
- Conference call tomorrow at 9 ET
- Previously: Parkway Properties beats by $0.05, beats on revenue (Feb. 9)
- PKY flat after hours
Mon, Feb. 9, 4:21 PM| Comment!
Dec. 31, 2014, 2:25 AM
- Real-estate investment trusts were among the hottest stocks of the year, producing a total return of 32.3%, including dividends, according to the FTSE Nareit Equity REITs Index.
- Boosted by low interest rates and an improving economy, the sector has climbed this year to its biggest gains in nearly a decade.
- Analysts are predicting REIT shares to continue to perform well in 2015, as a stronger economy and increased M&A activity drown out the risk of possible rate rises.
- With its shares rising 68.3% this year, the top-performing REIT in 2014 was Winthrop Realty Trust (NYSE:FUR).
- Related tickers: ARCP, DEI, DCT, PEB, SHO, EXR, FRT, EPR, MPW, NYRT, MAC, AVIV, CPT, EQR , PKY, MAC, SKT, WRI
- ETFs: IYR, VNQ, DRN, URE, SRS, RWR, SCHH, ICF, DRV, KBWY, REK, FRI, FTY, PSR, WREI
Dec. 16, 2014, 9:40 AM
- Upgraded to Buy from Neutral are Camden Property Trust (CPT +0.2%) and Equity Residential (EQR +0.1%). Upgraded to Neutral from Sell is Parkway Properties (PKY +0.3%).
- Downgraded to Neutral from Buy are Douglas Emmet (DEI -0.9%), Macerich (MAC +0.1%), Tanger Factory Outlet (SKT -0.7%), and Weingarten Realty (WRI -0.5%).
Dec. 12, 2014, 10:46 AM
- Started with Buys are Highwoods Properties Trust (HIW +1.2%), Hudson Pacific Properties (HPP -0.2%), and Parkway Properties (PKY -0.8%).
- Stated with Neutrals are Boston Properties (BXP +0.1%), Brandywine Realty Trust (BDN), Douglas Emmet (DEI +0.7%), First Potomac Realty (FPO +0.3%), Kilroy Realty (KRC +0.7%), and Piedmont Office (PDM -0.2%).
Dec. 3, 2014, 7:36 AM
Nov. 20, 2014, 4:44 PM
Nov. 17, 2014, 4:13 PM
- As part of the deal, Parkway Properties (NYSE:PKY) acquired CalSTRS' 60% interest in San Jacinto Center and One Congress Plaza, and now has 100% ownership of these properties. Sold to CalSTRS was Parkway's 40% interest in Frost Bank Tower, 300 West 6th Street, and One American Center. Net proceeds of about $43.6M flowed to Parkway from CalSTRS in the transaction.
- Prior to the ending of the JV, Parkway had pro rata ownership of 967K square feet, but now has 926K.
- Source: Press Release
Oct. 30, 2014, 4:41 PM| Comment!
Oct. 7, 2014, 4:21 PM| Comment!
Sep. 22, 2014, 10:43 AM
- The deal calls for Parkway Properties (PKY -2.8%) to purchase 22 office properties in six states totaling more than 3M square feet. Parkway intends to sell 19 of the properties as they're not consistent with the company's investment strategy. Kept will be three Class A office buildings in Tampa totaling 974K square feet.
- The gross purchase price is 475M and the deal is expected to close in Q4.
- Noting the combined occupancy of the Tampa properties of just 69.7%, Parkway expect to be able to add value.
- Helping to fund the purchase, Parkway launches a 10M share secondary offering with underwriter greenshoe of 1.5M shares.
Sep. 9, 2014, 9:29 AM
- David O'Reilly will continue in the CFO spot at Parkway Properties (NYSE:PKY), but resigned from the CIO role, effective yesterday. The new CIO is Jason Bates who joined the company in 2011 and has been SVP Head of Transactions since last November.
- Source: Press Release
- Previously: Columbia Property boosted, Parkway Properties cut at JMP
Sep. 9, 2014, 9:14 AM
- It's a pairs trade of sorts from JMP Securities, which upgrades Columbia Property Trust (NYSE:CXP) to Outperform from Market Perform, while cutting Parkway Properties (NYSE:PKY) to Market Perform from Outperform.
- Both stocks are higher this year and year-over-year, but Parkway has outperformed by about 300 basis points over both time frames.
Aug. 14, 2014, 4:59 PM
Aug. 7, 2014, 5:11 PM| Comment!
PKY vs. ETF Alternatives
Parkway Properties Inc is a fully integrated, self-administered & self-managed real estate investment trust. It is engaged in the acquisition, ownership & management of office & parking properties in submarkets in the Sunbelt region of the United States.
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