Bank of New York Mellon Corp increased its holdings in Park Hotels & Resorts Inc. (NYSE:PK) by 14.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 693,802 shares of the financial services provider’s stock after purchasing an additional 86,040 shares during the period. Bank of New York Mellon Corp owned approximately 0.32% of Park Hotels & Resorts worth $19,120,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PK. Vanguard Group Inc. lifted its position in Park Hotels & Resorts by 15.1% during the 2nd quarter. Vanguard Group Inc. now owns 22,577,650 shares of the financial services provider’s stock worth $608,693,000 after acquiring an additional 2,963,035 shares during the last quarter. BlackRock Inc. raised its position in shares of Park Hotels & Resorts by 57.5% during the second quarter. BlackRock Inc. now owns 9,743,370 shares of the financial services provider’s stock valued at $262,679,000 after buying an additional 3,558,810 shares during the last quarter. Cbre Clarion Securities LLC raised its position in shares of Park Hotels & Resorts by 883.4% during the second quarter. Cbre Clarion Securities LLC now owns 6,037,093 shares of the financial services provider’s stock valued at $162,760,000 after buying an additional 5,423,181 shares during the last quarter. Lasalle Investment Management Securities LLC raised its position in shares of Park Hotels & Resorts by 0.7% during the second quarter. Lasalle Investment Management Securities LLC now owns 4,607,476 shares of the financial services provider’s stock valued at $124,218,000 after buying an additional 32,606 shares during the last quarter. Finally, Southeastern Asset Management Inc. TN acquired a new position in shares of Park Hotels & Resorts during the second quarter valued at about $110,520,000. Hedge funds and other institutional investors own 99.14% of the company’s stock.

A number of research analysts have recently commented on the stock. Evercore ISI raised shares of Park Hotels & Resorts from an “in-line” rating to an “outperform” rating in a research report on Monday, December 4th. Boenning Scattergood reaffirmed a “buy” rating on shares of Park Hotels & Resorts in a research report on Monday, November 6th. Finally, Nomura upped their price objective on shares of Park Hotels & Resorts from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Park Hotels & Resorts currently has a consensus rating of “Hold” and an average target price of $34.87.

Shares of Park Hotels & Resorts Inc. (NYSE PK) opened at $28.53 on Friday. Park Hotels & Resorts Inc. has a 52 week low of $24.65 and a 52 week high of $31.46. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.26 and a quick ratio of 1.26.

Park Hotels & Resorts (NYSE:PK) last posted its earnings results on Thursday, November 2nd. The financial services provider reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. The business had revenue of $688.00 million for the quarter, compared to analysts’ expectations of $676.76 million. Park Hotels & Resorts had a net margin of 93.04% and a return on equity of 46.66%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share. equities analysts expect that Park Hotels & Resorts Inc. will post 2.74 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a $0.55 dividend. The ex-dividend date is Thursday, December 28th. This represents a $2.20 dividend on an annualized basis and a yield of 7.71%. This is a boost from Park Hotels & Resorts’s previous quarterly dividend of $0.43.

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Park Hotels & Resorts Company Profile

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.

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

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