Park Hotels & Resorts (PK) Holdings Raised by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Park Hotels & Resorts (NYSE:PK) by 12.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 199,265 shares of the financial services provider’s stock after acquiring an additional 22,116 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.09% of Park Hotels & Resorts worth $5,384,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PK. Comerica Bank acquired a new stake in shares of Park Hotels & Resorts during the first quarter worth about $203,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Park Hotels & Resorts by 36.6% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 31,868 shares of the financial services provider’s stock worth $861,000 after purchasing an additional 8,546 shares during the period. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Park Hotels & Resorts by 2,193.3% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,784 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 3,619 shares during the period. Rhumbline Advisers lifted its holdings in shares of Park Hotels & Resorts by 23.9% during the first quarter. Rhumbline Advisers now owns 187,586 shares of the financial services provider’s stock worth $5,069,000 after purchasing an additional 36,242 shares during the period. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Park Hotels & Resorts by 21,734.3% during the first quarter. Daiwa Securities Group Inc. now owns 3,864,678 shares of the financial services provider’s stock worth $104,424,000 after purchasing an additional 3,846,978 shares during the period.

Park Hotels & Resorts opened at $30.44 on Friday, Marketbeat Ratings reports. The company has a market capitalization of $6.13 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 2.17 and a beta of 0.21. Park Hotels & Resorts has a 12 month low of $30.52 and a 12 month high of $30.70. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.35 and a quick ratio of 1.35.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Thursday, May 3rd. The financial services provider reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.08. The business had revenue of $668.00 million during the quarter, compared to analysts’ expectations of $646.90 million. Park Hotels & Resorts had a return on equity of 6.57% and a net margin of 15.31%. The business’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 earnings per share. equities analysts predict that Park Hotels & Resorts will post 2.8 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 16th. Stockholders of record on Friday, June 29th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 5.65%. The ex-dividend date of this dividend is Thursday, June 28th. Park Hotels & Resorts’s dividend payout ratio (DPR) is presently 61.87%.

In related news, EVP Matthew Abram Sparks sold 12,877 shares of the business’s stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $29.87, for a total transaction of $384,635.99. Following the completion of the sale, the executive vice president now directly owns 46,931 shares in the company, valued at $1,401,828.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is owned by insiders.

PK has been the subject of a number of research reports. Deutsche Bank lifted their target price on Park Hotels & Resorts from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Friday, February 9th. Boenning Scattergood cut Park Hotels & Resorts from an “outperform” rating to a “neutral” rating in a research report on Wednesday, February 21st. Citigroup assumed coverage on Park Hotels & Resorts in a research report on Tuesday, February 27th. They set a “neutral” rating and a $27.50 price target for the company. Nomura reduced their price target on Park Hotels & Resorts from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, March 1st. Finally, Bank of America cut Park Hotels & Resorts from a “neutral” rating to an “underperform” rating in a research report on Monday, March 5th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $37.45.

Park Hotels & Resorts Profile

Park is a leading lodging REIT with a diverse portfolio of hotels and resorts with significant underlying real estate value. Park's portfolio consists of 55 premium-branded hotels and resorts with over 32,000 rooms located in prime United States and international markets with high barriers to entry.

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

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