Cascade Investment Advisors Inc. Has $929,000 Stake in Park Hotels & Resorts Inc (PK)

Cascade Investment Advisors Inc. lifted its stake in shares of Park Hotels & Resorts Inc (NYSE:PK) by 11.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,318 shares of the financial services provider’s stock after purchasing an additional 3,246 shares during the quarter. Cascade Investment Advisors Inc.’s holdings in Park Hotels & Resorts were worth $929,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PK. Bank of New York Mellon Corp lifted its position in shares of Park Hotels & Resorts by 40.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 607,762 shares of the financial services provider’s stock worth $16,385,000 after buying an additional 175,624 shares during the last quarter. Federated Investors Inc. PA lifted its position in shares of Park Hotels & Resorts by 4,029.2% during the 2nd quarter. Federated Investors Inc. PA now owns 9,745 shares of the financial services provider’s stock worth $263,000 after buying an additional 9,509 shares during the last quarter. Schroder Investment Management Group bought a new stake in shares of Park Hotels & Resorts during the 2nd quarter worth $4,883,000. Wells Fargo & Company MN lifted its position in shares of Park Hotels & Resorts by 61.5% during the 2nd quarter. Wells Fargo & Company MN now owns 91,068 shares of the financial services provider’s stock worth $2,455,000 after buying an additional 34,672 shares during the last quarter. Finally, Aberdeen Asset Management PLC UK bought a new stake in shares of Park Hotels & Resorts during the 2nd quarter worth $444,000. 99.13% of the stock is currently owned by institutional investors.

Park Hotels & Resorts Inc (NYSE PK) traded up $0.22 during trading on Wednesday, reaching $29.27. The company’s stock had a trading volume of 2,028,769 shares, compared to its average volume of 1,545,055. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $6,290.00 and a P/E ratio of 2.44. Park Hotels & Resorts Inc has a 1 year low of $24.65 and a 1 year high of $29.90.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Thursday, November 2nd. The financial services provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.65 by $0.01. The firm had revenue of $688.00 million during the quarter, compared to the consensus estimate of $676.76 million. Park Hotels & Resorts had a return on equity of 46.66% and a net margin of 93.04%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the company earned $0.66 earnings per share. equities research analysts forecast that Park Hotels & Resorts Inc will post 2.73 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were given a $0.55 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.43. This represents a $2.20 annualized dividend and a yield of 7.52%. Park Hotels & Resorts’s dividend payout ratio (DPR) is currently 18.32%.

Several analysts recently weighed in on PK shares. SunTrust Banks upgraded Park Hotels & Resorts from a “hold” rating to a “buy” rating in a research report on Thursday, December 21st. Evercore ISI upgraded Park Hotels & Resorts from an “in-line” rating to an “outperform” rating in a research report on Monday, December 4th. Boenning Scattergood set a $29.00 price objective on Park Hotels & Resorts and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Nomura upped their price objective on Park Hotels & Resorts from $32.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Finally, Zacks Investment Research downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research report on Saturday, December 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $36.08.

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Park Hotels & Resorts Company Profile

Park Hotels & Resorts Inc is a lodging real estate company. The Company has a portfolio of hotels and resorts. The Company operates through ownership segment, which includes all of its hotel properties. As of December 31, 2016, the Company’s portfolio consisted of 67 hotels and resorts with over 35,000 rooms located in the United States and international markets.

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

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