Mitsubishi UFJ Trust & Banking Corp Cuts Stake in Park Hotels & Resorts Inc. (NYSE:PK)

Mitsubishi UFJ Trust & Banking Corp lowered its position in shares of Park Hotels & Resorts Inc. (NYSE:PKGet Rating) by 85.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,326 shares of the financial services provider’s stock after selling 19,183 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Park Hotels & Resorts were worth $63,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Brookfield Asset Management Inc. lifted its holdings in shares of Park Hotels & Resorts by 6.0% in the third quarter. Brookfield Asset Management Inc. now owns 6,504,767 shares of the financial services provider’s stock valued at $124,501,000 after purchasing an additional 369,876 shares in the last quarter. Vulcan Value Partners LLC increased its stake in Park Hotels & Resorts by 176.1% during the third quarter. Vulcan Value Partners LLC now owns 4,020,246 shares of the financial services provider’s stock worth $76,948,000 after acquiring an additional 2,564,414 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Park Hotels & Resorts by 0.3% during the third quarter. Dimensional Fund Advisors LP now owns 3,405,169 shares of the financial services provider’s stock worth $65,179,000 after acquiring an additional 10,206 shares during the last quarter. Janus Henderson Group PLC increased its stake in Park Hotels & Resorts by 2,450.7% during the third quarter. Janus Henderson Group PLC now owns 2,967,361 shares of the financial services provider’s stock worth $56,753,000 after acquiring an additional 2,851,024 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Park Hotels & Resorts by 0.8% in the third quarter. Bank of New York Mellon Corp now owns 2,394,099 shares of the financial services provider’s stock valued at $45,822,000 after purchasing an additional 19,976 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently issued reports on PK. Zacks Investment Research raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Saturday, April 16th. Jefferies Financial Group lowered shares of Park Hotels & Resorts from a “buy” rating to a “hold” rating and lowered their price target for the stock from $25.00 to $19.00 in a research report on Wednesday, March 30th. TheStreet upgraded shares of Park Hotels & Resorts from a “d+” rating to a “c-” rating in a research report on Friday, February 18th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Park Hotels & Resorts from $26.00 to $28.00 in a research report on Tuesday, May 3rd. Finally, StockNews.com raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Tuesday, May 3rd. One equities research 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $21.86.

Park Hotels & Resorts stock opened at $18.41 on Friday. The firm has a market capitalization of $4.30 billion, a P/E ratio of -13.44 and a beta of 1.88. Park Hotels & Resorts Inc. has a 1 year low of $15.77 and a 1 year high of $22.42. The business has a 50-day moving average of $18.93 and a 200-day moving average of $18.81. The company has a current ratio of 3.02, a quick ratio of 3.02 and a debt-to-equity ratio of 1.09.

Park Hotels & Resorts (NYSE:PKGet Rating) last posted its earnings results on Monday, May 2nd. The financial services provider reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.25). The company had revenue of $479.00 million for the quarter, compared to analyst estimates of $420.53 million. Park Hotels & Resorts had a negative return on equity of 7.37% and a negative net margin of 19.45%. Park Hotels & Resorts’s quarterly revenue was up 190.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.48) earnings per share. Research analysts anticipate that Park Hotels & Resorts Inc. will post 1.16 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Thursday, March 31st were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend was Wednesday, March 30th. Park Hotels & Resorts’s payout ratio is -2.92%.

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.

Featured Stories

Want to see what other hedge funds are holding PK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Park Hotels & Resorts Inc. (NYSE:PKGet Rating).

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

Receive News & Ratings for Park Hotels & Resorts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park Hotels & Resorts and related companies with MarketBeat.com's FREE daily email newsletter.