Parkway Properties Inc. (PKY)

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 Jackson, Mississippi.

For the nine months ended 30 September 2006, Parkway Properties, Inc.'s revenues increased 11% to $158.9M. Net income from cont. ops. applic. to Common increased 70% to $12.7M. Revenues reflect increased income from office & parking properties due to higher same store sales and a rise in management company income. Net income also reflects improved operating margins and higher gain on sale of joint venture interests, real estate & other assets.