Teacher Retirement System of Texas Raises Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Teacher Retirement System of Texas raised its position in Park Hotels & Resorts Inc. (NYSE:PK) by 34.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,199 shares of the financial services provider’s stock after acquiring an additional 7,724 shares during the quarter. Teacher Retirement System of Texas’ holdings in Park Hotels & Resorts were worth $323,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PK. Donald Smith & CO. Inc. increased its holdings in shares of Park Hotels & Resorts by 13.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 9,200,125 shares of the financial services provider’s stock valued at $129,446,000 after acquiring an additional 1,122,839 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Park Hotels & Resorts by 18.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 6,692,233 shares of the financial services provider’s stock valued at $94,160,000 after acquiring an additional 1,056,188 shares during the period. Norges Bank acquired a new position in shares of Park Hotels & Resorts in the 4th quarter valued at $41,087,000. Invesco Ltd. increased its holdings in shares of Park Hotels & Resorts by 84.0% in the 4th quarter. Invesco Ltd. now owns 2,837,917 shares of the financial services provider’s stock valued at $39,929,000 after acquiring an additional 1,295,548 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Park Hotels & Resorts by 38.9% in the 4th quarter. Northern Trust Corp now owns 2,742,348 shares of the financial services provider’s stock valued at $38,585,000 after acquiring an additional 767,818 shares during the period. Hedge funds and other institutional investors own 92.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PK. JPMorgan Chase & Co. began coverage on shares of Park Hotels & Resorts in a research note on Monday, June 23rd. They issued an “underweight” rating and a $10.00 price objective on the stock. Citigroup reissued a “buy” rating on shares of Park Hotels & Resorts in a research note on Thursday, May 22nd. Evercore ISI lowered shares of Park Hotels & Resorts from an “outperform” rating to an “in-line” rating and set a $13.00 target price on the stock. in a research report on Friday, May 16th. Wall Street Zen cut shares of Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Morgan Stanley reaffirmed an “outperform” rating on shares of Park Hotels & Resorts in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.11.

Park Hotels & Resorts Stock Performance

Park Hotels & Resorts stock opened at $10.77 on Friday. The company has a market cap of $2.15 billion, a PE ratio of 18.25, a P/E/G ratio of 1.43 and a beta of 1.72. The company has a fifty day moving average price of $10.54 and a two-hundred day moving average price of $11.38. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.07 and a quick ratio of 1.07. Park Hotels & Resorts Inc. has a 12 month low of $8.27 and a 12 month high of $16.23.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Monday, May 5th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. The company had revenue of $630.00 million for the quarter, compared to analysts’ expectations of $620.17 million. Park Hotels & Resorts had a return on equity of 2.65% and a net margin of 4.90%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the business posted $0.52 earnings per share. Research analysts expect that Park Hotels & Resorts Inc. will post 2.11 earnings per share for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.29%. The ex-dividend date was Monday, June 30th. Park Hotels & Resorts’s dividend payout ratio is currently 169.49%.

Park Hotels & Resorts Profile

Park Hotels & Resorts, Inc operates as a real estate investment trust, which owns and operates hotels and resorts. It operates through the Consolidated Hotels and Unconsolidated Hotels segments. Its portfolio of hotels and resorts include the Waldorf Astoria Hotels and Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, and Curio.