UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 1,252,144 Shares of Park Hotels & Resorts Inc. $PK

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 15,514.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,260,215 shares of the financial services provider’s stock after purchasing an additional 1,252,144 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Park Hotels & Resorts were worth $17,958,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PK. Principal Securities Inc. grew its holdings in shares of Park Hotels & Resorts by 9.5% during the fourth quarter. Principal Securities Inc. now owns 10,684 shares of the financial services provider’s stock worth $112,000 after purchasing an additional 927 shares during the last quarter. California State Teachers Retirement System increased its position in Park Hotels & Resorts by 0.5% in the 2nd quarter. California State Teachers Retirement System now owns 192,452 shares of the financial services provider’s stock valued at $1,969,000 after acquiring an additional 968 shares in the last quarter. Versant Capital Management Inc increased its position in Park Hotels & Resorts by 10.5% in the 2nd quarter. Versant Capital Management Inc now owns 10,838 shares of the financial services provider’s stock valued at $154,000 after acquiring an additional 1,030 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of Park Hotels & Resorts by 68.8% in the first quarter. Fifth Third Bancorp now owns 2,604 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 1,061 shares during the last quarter. Finally, Caitlin John LLC raised its stake in shares of Park Hotels & Resorts by 4.6% in the fourth quarter. Caitlin John LLC now owns 24,774 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.

Park Hotels & Resorts Trading Up 1.3%

Shares of NYSE PK opened at $15.27 on Friday. The company’s 50 day simple moving average is $14.94 and its 200 day simple moving average is $12.86. Park Hotels & Resorts Inc. has a fifty-two week low of $9.84 and a fifty-two week high of $16.20. The firm has a market capitalization of $3.07 billion, a P/E ratio of -18.40, a P/E/G ratio of 1.96 and a beta of 1.33. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.53 and a quick ratio of 1.53.

Park Hotels & Resorts (NYSE:PK) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates of $0.24. The firm had revenue of $680.00 million during the quarter, compared to analyst estimates of $659.68 million. Park Hotels & Resorts had a negative net margin of 6.41% and a negative return on equity of 5.23%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 EPS. On average, analysts predict that Park Hotels & Resorts Inc. will post 1.83 EPS for the current year.

Park Hotels & Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.00 annualized dividend and a yield of 6.5%. Park Hotels & Resorts’s dividend payout ratio is presently -120.48%.

Analyst Ratings Changes

Several research firms have recently commented on PK. Barclays increased their price target on shares of Park Hotels & Resorts from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Thursday, August 27th. JPMorgan Chase & Co. upped their price objective on Park Hotels & Resorts from $13.00 to $14.00 and gave the stock an “underweight” rating in a report on Monday, August 10th. BMO Capital Markets upgraded Park Hotels & Resorts from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $14.00 to $18.00 in a research report on Tuesday. Cantor Fitzgerald lifted their target price on Park Hotels & Resorts from $12.00 to $15.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Finally, Morgan Stanley boosted their target price on Park Hotels & Resorts from $10.50 to $11.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Three analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Park Hotels & Resorts currently has an average rating of “Hold” and a consensus target price of $14.42.

About Park Hotels & Resorts

Park Hotels & Resorts Inc is a publicly traded real estate investment trust (REIT) specializing in luxury and upper-upscale hospitality properties. The company’s primary business activity involves owning and leasing premier hotels and resorts across major urban and resort destinations. Through long-term management and franchise agreements with leading hotel operators, Park generates revenue from room nights, food and beverage offerings, meetings and events, and ancillary services.

Since its spin-off from Hilton Worldwide in January 2017, Park Hotels & Resorts has assembled a diversified portfolio of more than 60 properties.