State of New Jersey Common Pension Fund D boosted its stake in shares of Park Hotels & Resorts Inc. (NYSE:PK) by 4.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 221,963 shares of the financial services provider’s stock after buying an additional 9,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Park Hotels & Resorts were worth $5,984,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Adelante Capital Management LLC purchased a new stake in shares of Park Hotels & Resorts during the first quarter valued at approximately $2,106,000. State of Alaska Department of Revenue purchased a new stake in shares of Park Hotels & Resorts during the second quarter valued at approximately $1,690,000. Cascade Investment Advisors Inc. increased its stake in shares of Park Hotels & Resorts by 24.8% in the second quarter. Cascade Investment Advisors Inc. now owns 28,358 shares of the financial services provider’s stock valued at $765,000 after buying an additional 5,637 shares in the last quarter. Aperio Group LLC increased its stake in shares of 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 in the last quarter. Finally, Forsta AP Fonden purchased a new stake in shares of Park Hotels & Resorts during the second quarter valued at approximately $1,429,000. Institutional investors own 97.07% of the company’s stock.

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

Park Hotels & Resorts (NYSE:PK) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.04. The business had revenue of $733 million for the quarter, compared to analysts’ expectations of $716.51 million. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. Equities analysts forecast that Park Hotels & Resorts Inc. will post $11.93 earnings per share for the current fiscal year.

The firm also recently declared 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. This represents a $1.72 annualized dividend and a dividend yield of 6.59%. The ex-dividend date is Thursday, September 28th.

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PK has been the subject of several analyst reports. Boenning Scattergood reiterated an “outperform” rating and issued a $30.00 target price on shares of Park Hotels & Resorts in a report on Tuesday, April 18th. Zacks Investment Research upgraded shares of Park Hotels & Resorts from a “sell” rating to a “hold” rating in a report on Wednesday, April 19th. Susquehanna Bancshares Inc assumed coverage on shares of Park Hotels & Resorts in a report on Wednesday, April 26th. They issued a “neutral” rating and a $28.00 target price for the company. UBS AG assumed coverage on shares of Park Hotels & Resorts in a research report on Wednesday, April 26th. They set a “neutral” rating for the company. Finally, Evercore ISI assumed coverage on shares of Park Hotels & Resorts in a research report on Wednesday, May 31st. They set an “outperform” 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 company. The stock currently has an average rating of “Hold” and a consensus price target of $34.80.

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

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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