Parkway Properties Inc (NYSE:PKY) was in 11 hedge funds' portfolio at the end of the first quarter of 2013. PKY investors should be aware of an increase in support from the world's most elite money managers lately. There were 9 hedge funds in our database with PKY holdings at the end of the previous quarter.
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Now, it's important to take a peek at the latest action surrounding Parkway Properties Inc (NYSE:PKY).
At the end of the first quarter, a total of 11 of the hedge funds we track were long in this stock, a change of 22% from the previous quarter. With the smart money's positions undergoing their usual ebb and flow, there exists a few noteworthy hedge fund managers who were boosting their holdings considerably.
When looking at the hedgies we track, Robert Rodriguez and Steven Romick's First Pacific Advisors LLC had the biggest position in Parkway Properties Inc (NYSE:PKY), worth close to $6 million, comprising 0.1% of its total 13F portfolio. Coming in second is Jim Simons of Renaissance Technologies, with a $5 million position; less than 0.1%% of its 13F portfolio is allocated to the stock. Other hedge funds that hold long positions include Cliff Asness's AQR Capital Management, Anand Parekh's Alyeska Investment Group and Israel Englander's Millennium Management.
As one would reasonably expect, specific money managers were breaking ground themselves. First Pacific Advisors LLC, managed by Robert Rodriguez and Steven Romick, initiated the biggest position in Parkway Properties Inc (NYSE:PKY). First Pacific Advisors LLC had 6 million invested in the company at the end of the quarter. Anand Parekh's Alyeska Investment Group also made a $4.3 million investment in the stock during the quarter. The other funds with new positions in the stock are Matthew Hulsizer's PEAK6 Capital Management, Ken Griffin's Citadel Investment Group, and Steven Cohen's SAC Capital Advisors.
Insider purchases made by high-level executives is best served when the company in focus has experienced transactions within the past 180 days. Over the latest six-month time period, Parkway Properties Inc (NYSE:PKY) has seen 2 unique insiders purchasing, and zero insider sales (see the details of insider trades here).
Let's also review hedge fund and insider activity in other stocks similar to Parkway Properties Inc (NYSE:PKY). These stocks are Select Income REIT (NYSE:SIR), Government Properties Income Trust (NYSE:GOV), Franklin Street Properties Corp. (NYSEAMEX:FSP), Hudson Pacific Properties Inc (NYSE:HPP), and American Assets Trust, Inc (NYSE:AAT). This group of stocks belong to the reit - office industry and their market caps match PKY's market cap.