Public Employees Retirement System of Ohio increased its holdings in shares of Park Hotels & Resorts Inc (NYSE:PK) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 314,283 shares of the financial services provider’s stock after purchasing an additional 3,276 shares during the period. Public Employees Retirement System of Ohio’s holdings in Park Hotels & Resorts were worth $9,626,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in Park Hotels & Resorts by 17.1% in the 2nd quarter. BlackRock Inc. now owns 16,256,506 shares of the financial services provider’s stock valued at $497,938,000 after acquiring an additional 2,368,733 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Park Hotels & Resorts by 7.6% in the 1st quarter. JPMorgan Chase & Co. now owns 8,230,938 shares of the financial services provider’s stock valued at $222,401,000 after acquiring an additional 581,941 shares in the last quarter. Brookfield Asset Management Inc. lifted its stake in Park Hotels & Resorts by 52.2% in the 1st quarter. Brookfield Asset Management Inc. now owns 6,872,340 shares of the financial services provider’s stock valued at $185,691,000 after acquiring an additional 2,356,231 shares in the last quarter. Centersquare Investment Management LLC lifted its stake in Park Hotels & Resorts by 13.1% in the 2nd quarter. Centersquare Investment Management LLC now owns 4,805,270 shares of the financial services provider’s stock valued at $147,186,000 after acquiring an additional 557,812 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in Park Hotels & Resorts by 8.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,192,643 shares of the financial services provider’s stock valued at $128,420,000 after acquiring an additional 327,965 shares in the last quarter.

PK has been the topic of several research reports. JPMorgan Chase & Co. cut Park Hotels & Resorts from an “overweight” rating to a “neutral” rating and set a $28.00 target price on the stock. in a research note on Tuesday, June 5th. Jefferies Financial Group initiated coverage on Park Hotels & Resorts in a research note on Thursday, May 31st. They issued a “buy” rating and a $37.00 target price on the stock. Barclays boosted their target price on Park Hotels & Resorts from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Friday, June 1st. Goldman Sachs Group cut Park Hotels & Resorts from a “neutral” rating to a “sell” rating and cut their target price for the company from $32.92 to $31.00 in a research note on Sunday, June 10th. Finally, Evercore ISI cut Park Hotels & Resorts from an “outperform” rating to an “in-line” rating in a research note on Monday, August 20th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $31.28.

NYSE:PK opened at $32.59 on Wednesday. The company has a market cap of $6.53 billion, a price-to-earnings ratio of 11.12, a P/E/G ratio of 2.34 and a beta of 0.49. Park Hotels & Resorts Inc has a twelve month low of $23.91 and a twelve month high of $34.27. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.51.

Park Hotels & Resorts (NYSE:PK) last posted its quarterly earnings results on Wednesday, August 1st. The financial services provider reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.11. The firm had revenue of $731.00 million for the quarter, compared to analyst estimates of $696.01 million. Park Hotels & Resorts had a return on equity of 8.41% and a net margin of 19.08%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.81 EPS. research analysts forecast that Park Hotels & Resorts Inc will post 2.86 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 5.28%. The ex-dividend date is Thursday, September 27th. Park Hotels & Resorts’s dividend payout ratio (DPR) is 61.87%.

Park Hotels & Resorts Company Profile

Park is a leading lodging REIT with a diverse portfolio of 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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