Cascade Investment Advisors Inc. Lowers Holdings in Park Hotels & Resorts Inc (PK)

Cascade Investment Advisors Inc. trimmed its stake in Park Hotels & Resorts Inc (NYSE:PK) by 1.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,911 shares of the financial services provider’s stock after selling 509 shares during the period. Cascade Investment Advisors Inc.’s holdings in Park Hotels & Resorts were worth $1,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in PK. Cohen & Steers Inc. increased its stake in shares of Park Hotels & Resorts by 18.9% in the fourth quarter. Cohen & Steers Inc. now owns 23,422,923 shares of the financial services provider’s stock worth $608,528,000 after acquiring an additional 3,721,425 shares during the period. Norges Bank acquired a new stake in shares of Park Hotels & Resorts in the fourth quarter worth $50,442,000. BlackRock Inc. increased its stake in shares of Park Hotels & Resorts by 10.9% in the fourth quarter. BlackRock Inc. now owns 18,853,963 shares of the financial services provider’s stock worth $489,827,000 after acquiring an additional 1,855,859 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd increased its stake in shares of Park Hotels & Resorts by 230.0% in the fourth quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,902,122 shares of the financial services provider’s stock worth $49,417,000 after acquiring an additional 1,325,779 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Park Hotels & Resorts by 3.8% in the third quarter. Vanguard Group Inc. now owns 30,594,200 shares of the financial services provider’s stock worth $1,004,101,000 after acquiring an additional 1,107,521 shares during the period.

A number of analysts recently issued reports on PK shares. JPMorgan Chase & Co. set a $29.00 price target on shares of Park Hotels & Resorts and gave the stock a “hold” rating in a report on Thursday, February 28th. TheStreet downgraded shares of Park Hotels & Resorts from a “b-” rating to a “c” rating in a report on Tuesday, January 22nd. Goldman Sachs Group raised shares of Park Hotels & Resorts from a “sell” rating to a “neutral” rating and set a $27.00 price target on the stock in a report on Thursday, January 10th. Barclays reissued a “buy” rating and set a $35.00 price target on shares of Park Hotels & Resorts in a report on Sunday, March 3rd. Finally, Nomura increased their price target on shares of Park Hotels & Resorts from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, February 28th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $33.00.



PK opened at $31.90 on Monday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.53. The firm has a market cap of $6.43 billion, a price-to-earnings ratio of 10.78, a P/E/G ratio of 2.16 and a beta of 1.28. Park Hotels & Resorts Inc has a 52-week low of $25.30 and a 52-week high of $34.27.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Wednesday, February 27th. The financial services provider reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.40). The business had revenue of $686.00 million during the quarter, compared to analysts’ expectations of $659.09 million. Park Hotels & Resorts had a return on equity of 8.29% and a net margin of 17.25%. The business’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the business posted $0.68 earnings per share. On average, research analysts anticipate that Park Hotels & Resorts Inc will post 2.95 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 5.64%. The ex-dividend date is Thursday, March 28th. Park Hotels & Resorts’s dividend payout ratio is currently 60.81%.

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Park Hotels & Resorts Company Profile

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 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.

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

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