Strs Ohio raised its position in Park Hotels & Resorts Inc. (NYSE:PK) by 122,116.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 166,214 shares of the financial services provider’s stock after buying an additional 166,078 shares during the period. Strs Ohio owned about 0.08% of Park Hotels & Resorts worth $4,481,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Adelante Capital Management LLC acquired a new position in Park Hotels & Resorts during the first quarter worth approximately $2,106,000. State of Alaska Department of Revenue acquired a new position in Park Hotels & Resorts during the second quarter worth approximately $1,690,000. Cascade Investment Advisors Inc. increased its position in Park Hotels & Resorts by 24.8% in the second quarter. Cascade Investment Advisors Inc. now owns 28,358 shares of the financial services provider’s stock worth $765,000 after buying an additional 5,637 shares in the last quarter. Aperio Group LLC increased its position in Park Hotels & Resorts by 1,065.3% in the second quarter. Aperio Group LLC now owns 413,435 shares of the financial services provider’s stock worth $11,146,000 after buying an additional 377,955 shares in the last quarter. Finally, Forsta AP Fonden acquired a new position in Park Hotels & Resorts during the second quarter worth approximately $1,429,000. 96.96% of the stock is owned by hedge funds and other institutional investors.
Park Hotels & Resorts Inc. (NYSE PK) traded down 0.212% during midday trading on Friday, reaching $25.925. The company’s stock had a trading volume of 900,792 shares. The firm has a 50 day moving average price of $26.71 and a 200 day moving average price of $26.53. The firm has a market capitalization of $5.57 billion and a PE ratio of 2.222. Park Hotels & Resorts Inc. has a 1-year low of $24.65 and a 1-year high of $33.40.
Park Hotels & Resorts (NYSE:PK) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.77 by $0.04. The business had revenue of $733 million for the quarter, compared to the consensus estimate of $716.51 million. The business’s revenue was up 1.1% compared to the same quarter last year. On average, analysts predict that Park Hotels & Resorts Inc. will post $11.99 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 6.62%. The ex-dividend date of this dividend is Thursday, September 28th.
COPYRIGHT VIOLATION WARNING: This story was originally posted by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this story on another site, it was stolen and reposted in violation of international copyright & trademark legislation. The correct version of this story can be viewed at https://stocknewstimes.com/2017/08/18/park-hotels-resorts-inc-nysepk-shares-bought-by-strs-ohio-updated.html.
PK has been the subject of a number of research reports. Susquehanna Bancshares Inc initiated coverage on shares of Park Hotels & Resorts in a report on Wednesday, April 26th. They issued a “neutral” rating and a $28.00 price objective for the company. UBS AG initiated coverage on shares of Park Hotels & Resorts in a report on Wednesday, April 26th. They issued a “neutral” rating for the company. Zacks Investment Research raised shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Thursday, May 18th. Evercore ISI began coverage on Park Hotels & Resorts in a research note on Wednesday, May 31st. They issued an “outperform” rating and a $28.00 target price on the stock. Finally, J P Morgan Chase & Co began coverage on Park Hotels & Resorts in a research note on Thursday, June 15th. They issued an “overweight” rating and a $30.00 target price on the stock. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $34.80.
In other news, major shareholder Hlt Holdco Iii Prime Llc sold 15,000,000 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $26.05, for a total transaction of $390,750,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stephen I. Sadove bought 9,600 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were acquired at an average price of $25.97 per share, for a total transaction of $249,312.00. Following the acquisition, the director now directly owns 20,151 shares of the company’s stock, valued at approximately $523,321.47. The disclosure for this purchase can be found here. 0.25% of the stock is currently owned by corporate insiders.
About Park Hotels & Resorts
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.
Receive News & Ratings for Park Hotels & Resorts Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Park Hotels & Resorts Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
