Last $21.23 USD
Change Today -0.41 / -1.89%
Volume 188.3K
PKY On Other Exchanges
Symbol
Exchange
New York
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As of 8:04 PM 07/24/14 All times are local (Market data is delayed by at least 15 minutes).

parkway properties inc (PKY) Snapshot

Open
$21.65
Previous Close
$21.64
Day High
$21.80
Day Low
$21.19
52 Week High
07/24/14 - $21.80
52 Week Low
09/3/13 - $15.95
Market Cap
2.1B
Average Volume 10 Days
324.8K
EPS TTM
$-0.48
Shares Outstanding
99.1M
EX-Date
06/9/14
P/E TM
--
Dividend
$0.75
Dividend Yield
3.36%
Current Stock Chart for PARKWAY PROPERTIES INC (PKY)

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parkway properties inc (PKY) Details

Parkway Properties, Inc., a real estate investment trust (REIT), engages in the operation, acquisition, ownership, management, and leasing of office properties. It operates and invests principally in office properties in the southeastern and southwestern United States and Chicago. The company also offers real estate services. As of April 1, 2005, Parkway Properties had an interest in 64 office properties located in 11 states. It leased office properties to approximately 1,317 customers that comprise various industries, including government agencies, banking, professional services, energy, financial services, and telecommunications. As a REIT, the company would not be subject to federal tax to the extent that it distributes at least 90% of its taxable income to its shareholders. Parkway Properties is based in Orlando, Florida.

326 Employees
Last Reported Date: 03/3/14

parkway properties inc (PKY) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $1.5M
Chief Financial Officer, Chief Investment Off...
Total Annual Compensation: $774.7K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $547.4K
Executive Vice President of Asset Management ...
Total Annual Compensation: $491.0K
Executive Vice President, General Counsel and...
Total Annual Compensation: $462.5K
Compensation as of Fiscal Year 2013.

parkway properties inc (PKY) Key Developments

Parkway Properties Seeks Acquisitions

Parkway Properties LP seeks acquisitions. Parkway Properties Inc. (NYSE:PKY) has filed a Follow-on Equity Offering in the amount of $150 million. Parkway Properties Inc. intends to contribute the net proceeds from these sales, if any, to Parkway Properties LP. Parkway Properties LP intends to use the net proceeds from this offering for general corporate purposes, which may include repaying temporarily amounts outstanding from time to time under the Parkway Properties Inc.'s unsecured revolving credit facility, working capital and capital expenditures, and to fund potential acquisitions or development of office properties.

Parkway Announces Quarterly Dividend, Payable on June 25, 2014

Parkway Properties Inc. announced that its Board of Directors has declared a quarterly dividend of $0.1875 per share, payable on June 25, 2014 to shareholders of record for Common Stock on June 11, 2014.

Parkway Properties Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Revises Earnings Guidance for the Full Year of 2014

Parkway Properties Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported total revenues of $104,113,000 compared with $68,165,000 for the same period a year ago. Operating income was $9,952,000 compared with $5,792,000 for the same period a year ago. Income before income taxes was $887,000 compared with loss before income taxes of $4,434,000 for the same period a year ago. Income from continuing operations was $546,000 or $0.00 per diluted share compared with loss from continuing operations of $3,927,000 or $0.09 per diluted share for the same period a year ago. Net income attributable to common stockholders was $10,845,000 or $0.11 per diluted share compared with net loss attributable to common stockholders of $3,879,000 or $0.07 per diluted share for the same period a year ago. FFO available to common stockholders was $35,026,000 compared with $17,282,000 for the same period a year ago. Recurring FFO was $37,786,000 compared with $18,726,000 for the same period a year ago. Parkway's share of net debt was $1,257,835,000 compared with $615,885,000 for the same period a year ago. Recurring EBITDA adjusted annualized was $223,508,000 compared with $127,466,000 for the same period a year ago. The company revised earnings guidance for the full year of 2014. Straight-line rent and amortization of above market rent is expected in the range of $31,000,000 to $32,000,000 compared with $30,500,000 to $31,500,000 previous guidance for the same period. General and administrative expense is expected in the range of $31,000,000 to $32,000,000 compared with $27,250,000 to $28,250,000 previous guidance for the same period. Recurring capital expenditures for building improvements, tenant improvements and leasing commissions is expected in the range of $32,000,000 to $36,000,000 compared with $30,000,000 to $34,000,000 previous guidance for the same period. Fully diluted EPS is expected in the range of $0.09 to $0.17, Parkway's share of depreciation and amortization is expected in the range of $1.64 to $1.72, reported FFO per diluted share is expected in the range of $1.32 to $1.40 and recurring FFO per diluted share is expected in the range of $1.36 to $1.44.

 

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Price/Sales 6.4x
Price/Book 1.9x
Price/Cash Flow 17.5x
TEV/Sales 1.1x
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