Parkway Properties Updates 2014 FFO Guidance - Quick Facts

(RTTNews) - Parkway Properties, Inc. (PKY) announced preliminary leasing results for its fourth quarter ended December 31, 2014. The company leased a total of 936,000 square feet at $32.20 per square foot in the fourth quarter 2014, which included 304,000 square feet of new leasing at $35.98 per square foot.

The company updated its 2014 FFO guidance to a range of $1.32 to $1.34 per share, reflecting impact of recent management company impairment and other non-recurring items. Parkway updated 2014 recurring FFO guidance to a range of $1.45 to $1.47 per share. Analysts polled by Thomson Reuters expect the company to report full year earnings per share of $1.37. Analysts' estimates typically exclude special items.

The company issued a 2015 FFO outlook range of $1.32 to $1.42 per share and 2015 EPS outlook range of $0.02 to $0.12. Analysts expect the company to report full year 2015 earnings per share of $1.43.