NEW YORK ( Stockpickr) -- Following the moves of insiders can be quite lucrative. If they're buying their own company stock, investors may be glimpsing a sign of hidden value. But insiders are notoriously bad market timers. Their buying is often premature, and shares can fall much further before they rise up to reflect that insider bullishness.To protect against that risk, it pays to looks at companies with insider buying and also a great deal stock price support, whether it's a very strong balance sheet or simply a very low multiple on profits or cash flow. >>5 Hated Stocks That You Should Love Here are five stocks that have seen both insider buying and low valuations. Parkway Properties Real estate investment trust Parkway Properties ( PKY) fell from $18 last summer, and its shares have been in a funk ever since, recently changing at hands at around $10.50. That's the level at which insiders have been buying, and a series of changes could help bolster shares from their current levels. Parkway has been steadily selling commercial properties in fairly strong markets and redeploying funds into more distressed markets such as Florida and Arizona. Management is betting that these regions possess the most upside when the commercial housing sector finally rebounds, if only because they have fallen so far from the peak. To be sure, Parkway's operations looked a bit sickly in recent years, as occupancy rates at office buildings fell, and customers were able to get rent concessions. The good news: Occupancy rates are no longer falling sharply and as just-released quarterly results show, leases that are up for renewal are now flat with prior contracts, much better than the nearly 10% drops seen in the past few years. In the quarters ahead, the stage is setting for a continuing rise in occupancy rates and perhaps the early signs of long-awaited rent increases. >>3 Financial Stocks With Huge Dividends for Weak Growth Cantor Fitzgerald believes that Parkway's current net asset value works out to be $13 a share, which should help limit any downside. In an improving real estate market, that NAV calculation is bound to rise as well. Parkway also shows up on a recent list of 12 Bargain Stocks With Insider Support.