Park Hotels & Resorts Inc. (NYSE:PK) had its price target decreased by Canaccord Genuity from $30.00 to $29.00 in a report published on Friday morning. Canaccord Genuity currently has a buy rating on the financial services provider’s stock.

PK has been the topic of a number of other research reports. Zacks Investment Research lowered Park Hotels & Resorts from a buy rating to a hold rating in a research note on Tuesday, July 25th. Boenning Scattergood reissued an outperform rating on shares of Park Hotels & Resorts in a research note on Wednesday, April 12th. Susquehanna Bancshares Inc began coverage on Park Hotels & Resorts in a research note on Wednesday, April 26th. They issued a neutral rating and a $28.00 price objective on the stock. Deutsche Bank AG began coverage on Park Hotels & Resorts in a research note on Wednesday, April 12th. They issued a hold rating and a $28.00 price objective on the stock. Finally, UBS AG began coverage on Park Hotels & Resorts in a research note on Wednesday, April 26th. They issued a neutral rating on the stock. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $34.80.

Shares of Park Hotels & Resorts (NYSE PK) traded up 1.65% on Friday, hitting $26.44. The stock had a trading volume of 1,640,268 shares. The firm has a 50 day moving average price of $27.16 and a 200-day moving average price of $26.56. The company has a market cap of $5.68 billion and a price-to-earnings ratio of 2.26. Park Hotels & Resorts has a 52 week low of $24.65 and a 52 week high of $33.40.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. The business had revenue of $733 million during the quarter, compared to analyst estimates of $716.51 million. Park Hotels & Resorts’s quarterly revenue was up 1.1% compared to the same quarter last year. Analysts anticipate that Park Hotels & Resorts will post $11.94 EPS for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a dividend of $0.43 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 6.51%.

In other news, major shareholder Hlt Holdco Iii Prime Llc sold 15,000,000 shares of the business’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its stake in Park Hotels & Resorts by 7.1% in the second quarter. CIBC Asset Management Inc now owns 9,416 shares of the financial services provider’s stock worth $254,000 after buying an additional 624 shares during the last quarter. Federated Investors Inc. PA increased its stake in Park Hotels & Resorts by 4,029.2% in the second quarter. Federated Investors Inc. PA now owns 9,745 shares of the financial services provider’s stock worth $263,000 after buying an additional 9,509 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Park Hotels & Resorts by 9.2% in the second quarter. Teacher Retirement System of Texas now owns 10,437 shares of the financial services provider’s stock worth $281,000 after buying an additional 878 shares during the last quarter. Balasa Dinverno & Foltz LLC purchased a new stake in Park Hotels & Resorts during the second quarter worth $307,000. Finally, Daiwa Securities Group Inc. increased its stake in Park Hotels & Resorts by 41.8% in the second quarter. Daiwa Securities Group Inc. now owns 12,900 shares of the financial services provider’s stock worth $348,000 after buying an additional 3,800 shares during the last quarter. Institutional investors own 97.44% of the company’s stock.

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.

Analyst Recommendations for Park Hotels & Resorts (NYSE:PK)

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