Park Hotels & Resorts Inc. (PK) Holdings Boosted by California Public Employees Retirement System

California Public Employees Retirement System boosted its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 11.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 259,480 shares of the financial services provider’s stock after buying an additional 26,527 shares during the quarter. California Public Employees Retirement System owned 0.12% of Park Hotels & Resorts worth $7,151,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. QS Investors LLC grew its stake in shares of Park Hotels & Resorts by 0.3% during the 2nd quarter. QS Investors LLC now owns 7,535 shares of the financial services provider’s stock valued at $203,000 after purchasing an additional 22 shares during the period. Teacher Retirement System of Texas grew its stake in shares of Park Hotels & Resorts by 19.4% during the 3rd quarter. Teacher Retirement System of Texas now owns 12,466 shares of the financial services provider’s stock valued at $344,000 after purchasing an additional 2,029 shares during the period. Pacer Advisors Inc. grew its stake in shares of Park Hotels & Resorts by 53.9% during the 2nd quarter. Pacer Advisors Inc. now owns 5,938 shares of the financial services provider’s stock valued at $160,000 after purchasing an additional 2,080 shares during the period. Amalgamated Bank grew its stake in shares of Park Hotels & Resorts by 12.0% during the 3rd quarter. Amalgamated Bank now owns 25,956 shares of the financial services provider’s stock valued at $715,000 after purchasing an additional 2,791 shares during the period. Finally, State of Wisconsin Investment Board grew its stake in shares of Park Hotels & Resorts by 13.0% during the 2nd quarter. State of Wisconsin Investment Board now owns 25,669 shares of the financial services provider’s stock valued at $692,000 after purchasing an additional 2,950 shares during the period. 99.13% of the stock is owned by institutional investors and hedge funds.

Park Hotels & Resorts Inc. (PK) opened at $28.85 on Wednesday. The stock has a market capitalization of $6,200.00 and a P/E ratio of 2.40. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.26 and a current ratio of 1.26. Park Hotels & Resorts Inc. has a 52 week low of $24.65 and a 52 week high of $31.46.

Park Hotels & Resorts (NYSE:PK) last announced its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. The company 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 firm’s revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 EPS. research analysts predict that Park Hotels & Resorts Inc. will post 2.73 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, December 28th. This is an increase from Park Hotels & Resorts’s previous quarterly dividend of $0.43. This represents a $2.20 dividend on an annualized basis and a dividend yield of 7.63%. Park Hotels & Resorts’s payout ratio is 18.32%.

A number of equities research analysts have issued reports on the company. Zacks Investment Research downgraded Park Hotels & Resorts from a “hold” rating to a “sell” rating in a research note on Saturday. Boenning Scattergood restated a “buy” rating on shares of Park Hotels & Resorts in a research note on Monday, November 6th. Nomura boosted their price target on Park Hotels & Resorts from $32.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, November 6th. Evercore ISI upgraded Park Hotels & Resorts from an “in-line” rating to an “outperform” rating in a research note on Monday, December 4th. Finally, SunTrust Banks upgraded Park Hotels & Resorts from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $34.87.

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Park Hotels & Resorts 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.

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

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