Public Employees Retirement System of Ohio Increases Stake in Park Hotels & Resorts Inc (PK)

Public Employees Retirement System of Ohio grew its holdings in Park Hotels & Resorts Inc (NYSE:PK) by 1.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 314,283 shares of the financial services provider’s stock after buying an additional 3,276 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.16% of Park Hotels & Resorts worth $9,626,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PK. Institutional & Family Asset Management LLC acquired a new stake in Park Hotels & Resorts in the first quarter worth about $109,000. Envestnet Asset Management Inc. increased its position in Park Hotels & Resorts by 94.6% in the second quarter. Envestnet Asset Management Inc. now owns 5,371 shares of the financial services provider’s stock worth $165,000 after purchasing an additional 2,611 shares during the period. First Republic Investment Management Inc. acquired a new stake in Park Hotels & Resorts in the second quarter worth about $213,000. Comerica Bank acquired a new stake in Park Hotels & Resorts in the first quarter worth about $203,000. Finally, Hollencrest Capital Management acquired a new stake in Park Hotels & Resorts in the second quarter worth about $221,000.

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

Park Hotels & Resorts stock opened at $32.59 on Wednesday. The stock has a market cap of $6.53 billion, a PE ratio of 11.12, a P/E/G ratio of 2.34 and a beta of 0.49. Park Hotels & Resorts Inc has a 1 year low of $23.91 and a 1 year high of $34.27. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.79 and a quick ratio of 1.79.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Wednesday, August 1st. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.11. The company had revenue of $731.00 million during the quarter, compared to analyst estimates of $696.01 million. Park Hotels & Resorts had a return on equity of 8.41% and a net margin of 19.08%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.81 EPS. equities analysts forecast that Park Hotels & Resorts Inc will post 2.86 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.72 annualized dividend and a dividend yield of 5.28%. Park Hotels & Resorts’s 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: Stock Symbol

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

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