Dimensional Fund Advisors LP Grows Position in Park Hotels & Resorts Inc (PK)

Dimensional Fund Advisors LP boosted its holdings in Park Hotels & Resorts Inc (NYSE:PK) by 10.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,574,138 shares of the financial services provider’s stock after purchasing an additional 240,609 shares during the quarter. Dimensional Fund Advisors LP owned about 1.28% of Park Hotels & Resorts worth $78,841,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PK. Legal & General Group Plc grew its stake in shares of Park Hotels & Resorts by 5.7% during the 2nd quarter. Legal & General Group Plc now owns 1,183,576 shares of the financial services provider’s stock worth $36,253,000 after purchasing an additional 64,006 shares during the period. Chicago Equity Partners LLC grew its stake in shares of Park Hotels & Resorts by 7.9% during the 2nd quarter. Chicago Equity Partners LLC now owns 287,380 shares of the financial services provider’s stock worth $8,802,000 after purchasing an additional 21,115 shares during the period. Janus Henderson Group PLC grew its stake in shares of Park Hotels & Resorts by 16.9% during the 2nd quarter. Janus Henderson Group PLC now owns 26,547 shares of the financial services provider’s stock worth $813,000 after purchasing an additional 3,847 shares during the period. BlackRock Inc. grew its stake in shares of Park Hotels & Resorts by 17.1% during the 2nd quarter. BlackRock Inc. now owns 16,256,506 shares of the financial services provider’s stock worth $497,938,000 after purchasing an additional 2,368,733 shares during the period. Finally, Standard Life Aberdeen plc grew its stake in shares of Park Hotels & Resorts by 163.4% during the 2nd quarter. Standard Life Aberdeen plc now owns 45,392 shares of the financial services provider’s stock worth $1,391,000 after purchasing an additional 28,159 shares during the period.

PK has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut shares of Park Hotels & Resorts from an “overweight” rating to a “neutral” rating and set a $28.00 price target on the stock. in a research note on Tuesday, June 5th. Jefferies Financial Group began coverage on shares of Park Hotels & Resorts in a research note on Thursday, May 31st. They issued a “buy” rating and a $37.00 price objective on the stock. Barclays increased their price objective on shares of Park Hotels & Resorts from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Friday, June 1st. Goldman Sachs Group cut shares of Park Hotels & Resorts from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $32.92 to $31.00 in a research note on Sunday, June 10th. Finally, Evercore ISI cut shares of Park Hotels & Resorts from an “outperform” rating to an “in-line” rating in a research note on Monday, August 20th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $31.28.

Shares of NYSE PK opened at $33.65 on Friday. The stock has a market capitalization of $6.68 billion, a P/E ratio of 12.10, a price-to-earnings-growth ratio of 2.39 and a beta of 0.49. Park Hotels & Resorts Inc has a 52 week low of $23.91 and a 52 week high of $34.27. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 1.79.

Park Hotels & Resorts (NYSE:PK) last issued its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.11. The firm had revenue of $731.00 million for the quarter, compared to analysts’ expectations of $696.01 million. Park Hotels & Resorts had a net margin of 19.08% and a return on equity of 8.41%. The firm’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the company earned $0.81 EPS. equities research analysts expect that Park Hotels & Resorts Inc will post 2.86 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be paid a dividend of $0.43 per share. The ex-dividend date is Thursday, September 27th. This represents a $1.72 annualized dividend and a dividend yield of 5.11%. Park Hotels & Resorts’s dividend payout ratio is currently 61.87%.

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 54 premium-branded hotels and resorts with over 32,000 rooms, a majority of which are located in prime United States markets with high barriers to entry.

Further Reading: How Important is Technical Analysis of Stocks

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.

Leave a Reply