Mitsubishi UFJ Trust & Banking Corp Purchases 18,232 Shares of Park Hotels & Resorts Inc. (NYSE:PK)

Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Park Hotels & Resorts Inc. (NYSE:PKGet Rating) by 1,119.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,861 shares of the financial services provider’s stock after purchasing an additional 18,232 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Park Hotels & Resorts were worth $269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in PK. Mutual of America Capital Management LLC increased its stake in Park Hotels & Resorts by 2.0% during the 1st quarter. Mutual of America Capital Management LLC now owns 215,652 shares of the financial services provider’s stock worth $4,212,000 after acquiring an additional 4,139 shares during the period. Victory Capital Management Inc. increased its stake in Park Hotels & Resorts by 76.2% during the 1st quarter. Victory Capital Management Inc. now owns 52,118 shares of the financial services provider’s stock worth $1,027,000 after acquiring an additional 22,534 shares during the period. Prospera Financial Services Inc bought a new position in Park Hotels & Resorts during the 1st quarter worth $133,000. Wolverine Asset Management LLC increased its stake in Park Hotels & Resorts by 172.3% during the 1st quarter. Wolverine Asset Management LLC now owns 61,039 shares of the financial services provider’s stock worth $1,192,000 after acquiring an additional 38,625 shares during the period. Finally, Twin Capital Management Inc. increased its stake in Park Hotels & Resorts by 49.8% during the 1st quarter. Twin Capital Management Inc. now owns 85,996 shares of the financial services provider’s stock worth $1,680,000 after acquiring an additional 28,590 shares during the period. Institutional investors own 91.73% of the company’s stock.

Park Hotels & Resorts Trading Up 2.1 %

NYSE PK opened at $12.42 on Wednesday. The company has a quick ratio of 3.24, a current ratio of 3.24 and a debt-to-equity ratio of 1.08. Park Hotels & Resorts Inc. has a twelve month low of $10.98 and a twelve month high of $20.58. The company has a market cap of $2.79 billion, a price-to-earnings ratio of 42.83 and a beta of 1.95. The business’s fifty day moving average is $12.35 and its 200 day moving average is $14.38.

Park Hotels & Resorts (NYSE:PKGet Rating) last released its quarterly earnings data 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). Park Hotels & Resorts had a net margin of 2.67% and a return on equity of 1.41%. The firm had revenue of $662.00 million for the quarter, compared to analyst estimates of $651.62 million. As a group, sell-side analysts expect that Park Hotels & Resorts Inc. will post 1.43 EPS for the current fiscal year.

Park Hotels & Resorts Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have commented on the company. StockNews.com assumed coverage on Park Hotels & Resorts in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on Park Hotels & Resorts from $26.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday, October 25th. Sumitomo Mitsui Financial Group lowered Park Hotels & Resorts from an “outperform” rating to a “neutral” rating and set a $16.00 price objective on the stock. in a research note on Monday, August 8th. Wells Fargo & Company raised Park Hotels & Resorts from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $20.00 to $17.00 in a report on Monday, August 29th. Finally, BMO Capital Markets downgraded Park Hotels & Resorts from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $21.00 to $18.00 in a report on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $19.38.

Park Hotels & Resorts Profile

(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.

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

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