Park Hotels & Resorts Inc. (NYSE:PK) Stock Holdings Lessened by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System reduced its holdings in Park Hotels & Resorts Inc. (NYSE:PKGet Rating) by 2.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 289,799 shares of the financial services provider’s stock after selling 7,944 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.12% of Park Hotels & Resorts worth $3,933,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. lifted its position in Park Hotels & Resorts by 54.9% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,883 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 1,022 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Park Hotels & Resorts in the 2nd quarter valued at about $45,000. Lindbrook Capital LLC lifted its position in Park Hotels & Resorts by 143.9% in the 2nd quarter. Lindbrook Capital LLC now owns 3,410 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 2,012 shares during the last quarter. Prospera Financial Services Inc bought a new stake in shares of Park Hotels & Resorts during the 1st quarter worth about $133,000. Finally, Walleye Trading LLC bought a new stake in shares of Park Hotels & Resorts during the 1st quarter worth about $228,000. 91.73% of the stock is currently owned by institutional investors.

Park Hotels & Resorts Stock Performance

Park Hotels & Resorts stock opened at $12.33 on Tuesday. The firm’s 50 day simple moving average is $12.59 and its 200-day simple moving average is $14.68. The company has a market cap of $2.77 billion, a P/E ratio of 42.52 and a beta of 1.95. The company has a debt-to-equity ratio of 1.08, a current ratio of 3.24 and a quick ratio of 3.24. Park Hotels & Resorts Inc. has a fifty-two week low of $10.98 and a fifty-two week high of $20.58.

Park Hotels & Resorts (NYSE:PKGet Rating) last released its earnings results on Wednesday, November 2nd. The financial services provider reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.23). The firm had revenue of $662.00 million during the quarter, compared to analysts’ expectations of $651.62 million. Park Hotels & Resorts had a return on equity of 1.41% and a net margin of 2.67%. As a group, equities research analysts predict that Park Hotels & Resorts Inc. will post 1.42 EPS for the current year.

Park Hotels & Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 17th. Stockholders of record on Friday, September 30th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend was Thursday, September 29th. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 13.79%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Park Hotels & Resorts from $26.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, October 25th. UBS Group dropped their price target on shares of Park Hotels & Resorts to $15.00 in a research report on Tuesday, September 6th. Wells Fargo & Company upgraded shares of Park Hotels & Resorts from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $20.00 to $17.00 in a research report on Monday, August 29th. BMO Capital Markets downgraded shares of Park Hotels & Resorts from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $21.00 to $18.00 in a research report on Tuesday, August 16th. Finally, StockNews.com started coverage on shares of Park Hotels & Resorts in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Park Hotels & Resorts currently has a consensus rating of “Hold” and an average price target of $19.05.

About Park Hotels & Resorts

(Get Rating)

Park is the second largest publicly traded lodging REIT with a diverse portfolio of market-leading hotels and resorts with significant underlying real estate value. Park's portfolio currently consists of 60 premium-branded hotels and resorts with over 33,000 rooms primarily located in prime city center and resort locations.

Further Reading

Institutional Ownership by Quarter for Park Hotels & Resorts (NYSE:PK)

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