Alpine Woods Capital Investors LLC held its position in Park Hotels & Resorts Inc. (NYSE:PK) during the second quarter, Holdings Channel reports. The fund owned 474,953 shares of the financial services provider’s stock at the end of the second quarter. Alpine Woods Capital Investors LLC’s holdings in Park Hotels & Resorts were worth $12,805,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PK. Schwab Charles Investment Management Inc. increased its position in Park Hotels & Resorts by 278.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,219,821 shares of the financial services provider’s stock valued at $32,887,000 after buying an additional 897,527 shares during the period. APG Asset Management US Inc. increased its position in Park Hotels & Resorts by 66.3% in the second quarter. APG Asset Management US Inc. now owns 1,550,000 shares of the financial services provider’s stock valued at $41,788,000 after buying an additional 618,229 shares during the period. Aperio Group LLC increased its position in Park Hotels & Resorts by 1,065.3% in the second quarter. Aperio Group LLC now owns 413,435 shares of the financial services provider’s stock valued at $11,146,000 after buying an additional 377,955 shares during the period. Strs Ohio increased its position in Park Hotels & Resorts by 122,116.2% in the second quarter. Strs Ohio now owns 166,214 shares of the financial services provider’s stock valued at $4,481,000 after buying an additional 166,078 shares during the period. Finally, Adelante Capital Management LLC acquired a new position in Park Hotels & Resorts during the first quarter valued at $2,106,000. Hedge funds and other institutional investors own 97.07% of the company’s stock.

Shares of Park Hotels & Resorts Inc. (NYSE PK) opened at 26.10 on Friday. The firm’s 50-day moving average price is $26.83 and its 200 day moving average price is $26.56. The firm has a market capitalization of $5.61 billion and a price-to-earnings ratio of 2.24. Park Hotels & Resorts Inc. has a 52 week low of $24.65 and a 52 week high of $30.74.

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 the consensus estimate of $716.51 million. The company’s revenue was up 1.1% compared to the same quarter last year. On average, analysts anticipate that Park Hotels & Resorts Inc. will post $11.93 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a dividend of $0.43 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.72 annualized dividend and a yield of 6.59%.

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Several equities analysts recently weighed in on PK shares. Jefferies Group LLC increased their target price on Park Hotels & Resorts from $58.00 to $69.00 and gave the stock a “hold” rating in a research report on Tuesday, June 20th. Cowen and Company upped their price target on Park Hotels & Resorts from $61.00 to $70.00 and gave the stock a “market perform” rating in a research note on Tuesday, June 20th. Zacks Investment Research upgraded Park Hotels & Resorts from a “sell” rating to a “hold” rating in a research note on Wednesday, April 19th. Evercore ISI assumed coverage on Park Hotels & Resorts in a research note on Wednesday, May 31st. They set an “outperform” rating and a $28.00 price target for the company. Finally, Susquehanna Bancshares Inc assumed coverage on Park Hotels & Resorts in a research note on Wednesday, April 26th. They set a “neutral” rating and a $28.00 price target for the company. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $34.80.

In related news, major shareholder Hlt Holdco Iii Prime Llc sold 15,000,000 shares of the business’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $26.05, for a total transaction of $390,750,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stephen I. Sadove purchased 9,600 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were purchased at an average price of $25.97 per share, for a total transaction of $249,312.00. Following the completion of the purchase, the director now directly owns 20,151 shares of the company’s stock, valued at $523,321.47. The disclosure for this purchase can be found here. Insiders own 0.25% 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.

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

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